No-Divert Policy, Strategic Growth Help Erlanger Increase Revenue by $300 Million
A strategic plan that focused on growth and expanding specialty services helped Erlanger Health System improve its balance sheet while maintaining high-quality performance. A pay-for-performance program also increased nurse productivity.
Annual Hospital Costs for Opioid Overdose Patients Approaches $2 Billion
The average cost for an overdose patient who was treated and released totaled $504, but the average cost rose to $11,731 for those that were treated and admitted to a hospital.
Evaluating Cost-of-Care Progress
Although more time and evidence are needed to prove the efficacy of population-based VBP models, there are other models that may be more appropriate for different populations.
The Hospital’s New Agenda: Pharmacy Cost Savings
Pharmacists who have defined roles focused on effective and efficient use of medications in hospitals are the best-equipped leaders to control rising and unsustainable drug costs. For example, one health system realized a $6 million cost savings through a combination of surveillance technology and empowered, motivated pharmacy leaders.
When Indirect EHR Communication Drives Up Medical Costs
Indirect communication among primary care team members using EHRs is associated with increased hospital visits and higher medical costs for their patients with diabetes, according to one study. Researchers found that medical costs rose by $223 per patient with diabetes in a six-month period for every increase in one percentage point in indirect communication.
Community Paramedicine Saves Organization $6M in 1 Year
By training paramedics to treat patients at home under a physician’s supervision, Commonwealth Care Alliance is reducing unnecessary emergency department visits and hospitalizations.
Determining the Long-Term Value of Labor Costs
Various methods can help healthcare leaders express the savings realized from a reduction in staff time and effort required to complete a task.
A Data-Driven Approach to Physician Performance Improvement
With a data-driven understanding of how and where they can improve, physicians will be eager to close the gap where current outcomes lag behind expected performance.
Implementing Green Strategies That Contain Costs and Reduce Waste
A campaign to educate clinicians on proper waste segregation can improve compliance with regulations and keep regular waste out of more costly waste streams.
Small Percentage of Uninsured Patients Generate Most of Hospitals’ Self-Pay Payments
Focusing on accounts that are most likely to be paid in full and identifying billable insurance can help hospitals tackle self-pay challenges.