Financial Challenges Ranked #1
In a recent survey by the American College of Healthcare Executives, financial challenges again ranked No. 1 on the list of hospital CEOs’ top concerns followed by patient safety and quality. In third place was government mandates.
“Part of the solution”, according to Lynn Nichols, president and CEO, Massachusetts Hospital Association, “is to see the transition to global payments, whether it be bundles, full capitation models or some kind of risk-based incentive payment.
Medicare and Medicaid are growing every year as an overall percentage of payments to hospitals, but the actual payments per patient encounter are shrinking.
Hospitals need to integrate services and care delivery throughout the full continuum and not just focus on the inpatient portion of care”.
Connected Health is Better Health
Through its In-Home Monitoring solution, MyVitalz™ provides that continuum of care. MyVitalz™ improves clinical outcomes and reduces the overall cost of care in accordance with Healthcare Reform. By reducing readmissions and improving patient engagement, MyVitalz™ eases the transition to capitation from individual fee for service plans. Costs are minimal and 14 States are now reimbursing remote patient monitoring through Medicaid.
Near real time patient-specific biometric data can be shared with the entire care team through a HIPAA secure portal. Costly readmissions can be prevented and continuous rather than episodic monitoring can pinpoint when intervention by a healthcare professional may be most efficacious and least costly.