Community Benefit
The nation's complex healthcare system is often challenging for those who work in it. For those who don't - patients - a new brand of companies is rising up to help. Patient navigation companies may be patient-centric but they will impact the way the traditional healthcare system does business.
A study published last week by The Commonwealth Fund found that hospital sustainability efforts could save the healthcare industry up to $5.4 billion over five years and $15 billion over 10 years.
Patient participation in the payment for healthcare services has become more complex and challenging for healthcare providers. It is critical that providers receive payment in full for the services they provide as quickly as possible by overcoming some of the basic challenges in the payment collection process and by better understanding their customers and their propensity to pay.
As it looks to both reduce out-of-pockets costs for employees, while also lowering its total healthcare costs, global retailer Walmart announced last month a new program that will pay 100 percent of the costs for certain spine and cardiac surgeries plus travel expenses at six selected healthcare systems across the country.
The National Quality Forum (NQF) announced Monday it has endorsed 10 behavioral health quality measures aimed at addressing such issues as alcohol and tobacco abuse, antipsychotic medication adherence and follow-up after hospitalization for mental illness.
A new global study by the IMS Institute for Healthcare Informatics identifies six levers that can be used to increase medication adherence, possibly saving some $500 billion in healthcare spending worldwide.
Eliminating surgical complications is something all hospitals strive towards, however, for some hospitals, savings gained by reducing or eliminating surgical complications can lead to reduced revenues.
When it comes to making difficult financial decisions at hospitals, it's crucial to maintain transparent communications with employees and the community. How one small hospital weathered a financial crisis was the focus of a presentation Oct. 26 at a hospital best practices workshop presented by the Maine chapter of the Healthcare Financial Management Association in Auburn, Maine.
To get better care for patients and lower costs, it's important to stitch together the experience of patients both while they're in the hospital and immediately afterwards.