One of the biggest obstacles to value analysis teams within hospitals is physicians who are reluctant to switch devices or vendors. Physicians often grow attached to certain medical devices, with good reason – they have been proven to work for them and their patients. Often times, showing evidence that a substitute item with similar functionality […]
Be Transparent With Physicians on Pricing to Drive More Value Read More »
In talking with our hospital customers, case mix index (CMI) often comes up as a source of confusion and misunderstanding by clinical staff. CMI is widely tracked by employees on the financial side of the hospital, but not monitored nearly as closely on the clinical side, so its impact is widely misunderstood. CMI is an
Why Case Mix Index Matters To Your Hospital And How To Maximize It Read More »
A recent survey conducted by Cardinal Health showed that 24% of hospital staff have seen or heard of an expired product being used on a patient during a procedure. This comes as no surprise, as we have witnessed the usage of expired inventory at hospitals first-hand. Without the proper processes and vigilance to prevent these
3 Dangers of Expired Medical Devices Read More »
Each year, the US healthcare system wastes $765 billion according to a 2012 National Academy of Medicine study. According to the same study, that total eclipses the annual budget of the Defense Department and the amount could be used to cover the insurance coverage of 150 million American workers. While the numbers are staggering, there
The Cost of Hospital Waste Read More »
As adoption of EMRs at hospitals reaches saturation, hospitals and health systems are now trying to figure out how to make the most of the vast amounts of data being collected by their information systems. Focusing on data analytics in the perioperative setting can drive significant value for a hospital, given the large share of
How Hospitals Can Drive More Value From Data Analytics Read More »
Geisinger Health System, a leading health system in Eastern Pennsylvania, has begun realizing tremendous benefits from a data analytics program established in 2015. The hospital’s Unified Data Architecture (UDA) collects and stores data from electronic medical records and other data sources to provide a holistic view of a patient’s health. Benefits of the UDA so
How One Hospital Uses Advanced Analytics to Drive Savings and Improve Outcomes Read More »
Moving to buying medical devices direct from manufacturers can yield huge financial benefits for hospitals. Loma Linda University Medical Center in California drastically eliminated reps in orthopedics after a long internal struggle to do so. They reported savings of about $1 million annually, or 50 percent on the cost of the devices, without affecting outcomes.
Moving to the ‘Rep-Less’ Model For Medical Devices to Save Money and Reduce Risk Read More »
What is Case Mix Index (CMI)? Medicare and Medicaid created a CMI score to help properly reimburse hospitals for services provided to inpatients (CMI doesn’t apply to outpatients). The CMI is an attempt to measure the resources needed to provide proper care for patients. An article from Health Leaders Media titled CDI Programs Drive Up Case
Increase Surgical Revenue – Part 3 of 3 (Case Mix Index) Read More »
Why is documentation so important for proper reimbursement for surgical procedures? In order to get properly reimbursed for a surgical procedure, you must be able to prove through documentation what you’re are trying to get reimbursedfor. If you can’t prove it, then you will not get paid for it. Government programs such as Medicare and
Increase Surgical Revenue – Part 2 of 3 (Documentation Improvement) Read More »
In the past and for most of healthcare today, inventory has been managed independently from the rest of the business of providing healthcare. Recent articles ( 7 Reasons to Merge Revenue Cycle and Supply Chain Management ) have suggested the benefits of combining supply chain and revenue cycle. When you step back and look at
Increase Surgical Revenue – Part 1 of 3 (Charge Capture) Read More »