Behavioral Economics: A New Approach to Healthcare Improvement
Behavioral economics goes beyond information sharing and financial incentives to give providers tools that can nudge both patients and clinicians to make beneficial healthcare decisions.
Pressure Ulcer Prevention Can Save Costs
Pressure ulcer treatment can be as high as $150,000 and can add approximately $40,000 to a hospital stay.
Mercy Saves Millions in the OR Through Standardization and Automation
Surgeons from Mercy’s 41 hospitals worked with perioperative directors to reduce costly physician preference items. The health system also used an inventory management system to improve charge capture and eliminate time-wasting manual processes. Overall, Mercy has cut its supply costs by $3.6 million in 12 months.
7 Focus Areas for Reducing Healthcare Expenses
Healthcare providers should focus on seven areas to control costs and maximize savings while continuing to deliver high-quality patient care.
Hospital Saves $49M by Engaging Department Leaders
Small-scale projects to reduce waste and improve efficiency can add up to boost hospital bottom lines. The key is tapping leaders’ knowledge of what processes need to change.
From Professional Evaluation to Clinical Excellence
Leading hospitals are stretching farther and using actionable data on physician performance to accelerate overall performance improvement.
Purchased Services Contracting for Employed Physician Practices Cuts Cost, Improves Service
Piedmont Healthcare saved almost $90,000 for its employed physician practices by securing a purchased services contract for after-hours answering services.
Achieving Care Integration Boosts Hospital’s Quality Metrics
Parrish Medical Center gained integrated certification by implementing a series of process improvements, starting with gaining physician buy-in and installing interdisciplinary teams.
Developing Talent in the Revenue Cycle
A health system created a training program for revenue cycle leaders, resulting in improved performance.
6 Steps for Effective Use of Peer Comparisons and Analytics
Peer comparisons help hospitals recognize that performance improvement opportunities exist and give them evidence that their peers are executing on those opportunities. With that information, leadership teams are motivated to pursue targeted corrective actions.