While it’s virtually impossible to predict the timeline for the transition of healthcare reimbursement from fee-for-service to value based, there is absolute certainty that the impending shift will place significant downward pressure on a provider’s financial performance. Attempts to grow lingering FFS volumes and profits cannot keep pace with the reimbursement shift to value-based reimbursements.
When Centers for Medicare and Medicaid Services introduced the Hospital Value-Based Purchasing Program in FY2013, the direct link between patient experience and hospital financial performance was proven. This program rewards – or penalizes, hospitals based on a combination of core measures, hospital-acquired conditions and the facility’s score on the Hospital Consumer Assessment of Healthcare Providers
No one understands the continuous turmoil of healthcare services better than those who work within the industry. Reimbursement declines, ever-increasing focus on quality, and a steady march toward population health/active consumer participation in health management, healthcare leaders are recognizing the need for culture changes within their organizations. How Does Culture Change Start? Culture change begins
When it comes to healthcare utility management, medical facilities are faced with a growing number of questions and challenges. With each passing day, resource productivity and sustainability become more important to companies throughout the world. This is particularly true within the healthcare industry, with hospitals constantly seeking ways to save money while becoming more efficient.
With UDI (unique device identifier) labeling making major headway, medical providers and facilities throughout the United States need to adjust accordingly. While this identification system has come a long way in a short period of time, it’s far from complete (more on this below). Its important for all healthcare professionals to fully understand the finer
Regardless of the business or industry, effective communication is essential. Perhaps, even more, when it comes to the healthcare field. Over the years, research has shown that regardless of how knowledgeable a medical professional may be, if he or she is unable to communicate effectively with the patient, the end result can be an unsatisfied
With clinical outcomes improving across the board, it’s imperative for all hospitals to keep a close watch on this metric. How does your hospital stack up to the competition? Has the facility experienced an increase in clinical outcomes over the past 12 to 24 months? In short, a clinical outcome, also known as a patient-reported
There’s a lot that goes on behind the scenes in a hospital setting, but patient flow isn’t one of them. This plays out in front of every patient and visitor who walks through the door. Over the years, patient flow has deteriorated to the point of being a major problem for many hospitals. Becoming so
Hospitals have many expenses, all of which are important to running a highly efficient operation that provides the best patient care possible. Hospitals are often wasting money on telecom expenses. Some of which may be unnecessary. Let’s focus on two ideas:: Ways to save money. How to adjust the service without compromising quality and performance.
For all healthcare organizations, the mandate to improve clinical processes and ensure a high-quality patient experience is an outcome that is dependent on the commitment, skills, and dedication of an organization’s employees who have an enormous impact on the overall patient experience. With a potential 2% loss in reimbursements for organizations that do not meet patient