Better Blood Management Helps Johns Hopkins Reduce Length of Stay, Save Nearly $3 Million
Johns Hopkins Medical Institutions saved money and improved on quality metrics by implementing a blood management program.
Decline in Hospital-Acquired Conditions Saves Almost $3B
AHRQ reports that hospital-acquired conditions fell by 350,000 between 2014 and 2016. With an adverse drug event costing a hospital anywhere from $1,200 to $9,000 and a catheter-associated urinary tract infection costing between $5,000 and almost $30,000, this reduction is a positive indicator for reducing health costs.
Improving Patient Experience May Reduce Readmissions
Providers should ask high-risk patients about their care experiences before discharge to help reduce costly readmissions.
Advanced Analytics Must Drive the Next Round of Productivity Initiatives
To achieve the next round of cost-reduction goals facing hospitals, care delivery models that use a different mix and quantity of healthcare professionals must be put in place. Supported by advanced analytics and statistical modeling, hospital leadership can demonstrate how fewer labor hours and lower total costs can deliver consistent and excellent clinical outcomes.
Multimodal Approach Saves MedStar Health $13M in 8 Years
Many hospital leaders focus on price negotiations with manufacturers to reduce pharmacy costs. However, pharmacists at one 10-hospital health system recognize the cost-saving benefits of engaging physicians, standardizing 340B program processes, and employing other strategies.
NewYork-Presbyterian Curbs Costs with a Structured Redesign Approach
By pairing project management professionals with operational leaders on key initiatives, the organization achieved $96 million in cost savings in 2017 while maintaining high-quality care.
Integrating Care to Improve Surgical Outcomes and Reduce Costs
As a hospital’s major source of income, surgical procedures present the biggest opportunities for cost savings and process improvement.
Getting to Know Patients in Their Homes
Joe Shen describes EmblemHealth's collaboration with an independent physician association to conduct in-home visits for members, boosting patient engagement and member satisfaction.
Grant Thornton: Optimizing the Ambulatory Workforce
One of Grant Thornton’s senior healthcare consultants addresses the topic of workforce management and the importance of a data-driven approach.
A New World Order for Hospital Margins
As expenses grow faster than revenues, hospitals are looking for ways to maintain margins.