An increased dependency on telehealth services last year prompted hospital systems and clinics to settle for patchwork solutions rather than address the larger problem: delivering value-based healthcare in the midst of a pandemic.
Patients now expect the at-home healthcare capabilities that virtual care promises. Improved technology, with the help of advanced APIs, has expanded the scope of remote patient monitoring. Health systems must now work diligently to keep the momentum going, meet patients where they are, and keep up with the growing demand for high-quality, flexible healthcare.
Implementation of a value-based virtual care solution is mutually beneficial. Not only do patients enjoy a more streamlined and customized version of care, but physicians and hospitals reap the financial rewards associated with delivering more cost efficient care.
Opportunities to Manage Resources and Maximize Efficiency
One of the most pressing concerns for hospital systems and clinics turning to virtual care is how to manage resources more efficiently while continuing to provide patients with excellent care. Optimized efficiency can drastically increase a health system’s ROI and earnings for individual physicians.
Improve the quality of patient care.
In the early days of COVID-19, clinicians struggled to triage and care for all patients based on the level of urgency. Virtual care allows physicians to conduct higher acuity monitoring using devices and patient monitoring programs. To begin, virtual care diverts patients from more expensive alternative healthcare. This, in turn, expands access while reducing costs. Within the value-based care model, accountable care organizations include a network of physicians, hospitals, and other providers that offer care to Medicare recipients. It’s a program that ensures high quality of care for patients while avoiding unnecessary and redundant services to keep costs low.
Keep healthcare costs low.
According to a Jefferson Health study, redirecting nonemergency visits from the emergency room saved an average of $309-$1,500 per visit. As a result, patients on average saved $19-$121.
A well-designed virtual care system enables more efficient processing, significantly increases the number of visits per day, and eases use for doctors and patients. It offers easy ER integration, an operational dashboard, single sign-on integration, shareable APIs, and around-the-clock support via email, live chat, and 24/7 dedicated support.
Improved staff utilization means patients benefit from immediate support from specialists and other ancillary services. Competitors don’t have systems in place to embed and map your workflows to bring others in on calls. Luckily, Bluestream offers clinicians and patients comprehensive support to accelerate the process of value-based care.
Furthermore, value-based care employs bundled payments, or episode-based payments. The payment represents the total amount of care a patient has received from physicians, specialists, and others involved in a patient’s cumulative visit rather than paying for each aspect of care separately.
In some cases, this method of payment is beneficial for providers who are able to keep costs low and pocket the savings. On the other hand, if costs balloon beyond the original cost scoped, it could set physicians back. In the end, bundle payments become another critical incentive for physicians to choose virtual care models as a method for keeping costs down.
Optimize remote care solutions.
Higher acuity monitoring using devices and patient monitoring programs allows medical support staff to triage more effectively. Patients receive home care that, in many cases, exceeds previous hospital visits that were similar in scope. Meanwhile, physicians can coordinate with their teams to deliver the level of care they need to check in on a patient seamlessly.
Some providers are even turning to patient-centered medical homes (PCMH) as an avenue toward value-based care. The goal of PCMH is to provide patient-centered care and encourage care management, care coordination, and routine quality care. Similar to virtual care models, physicians have time to build rapport with their patients and deliver holistic care.
Methods for Increased Patient Intake
Luckily for hospital systems, those who choose holistic virtual health solutions focused on value-based care increase patient intake and retention.
Manage savings.
In the wake of COVID-19, the federal government issued COVID emergency waivers, although these waivers are set to run out by the end of 2021. In the meantime, hospitals can keep costs low by introducing technology that’s easy to implement and simple for clinicians, patients, and families to master. Hospitals can train staff on the use of a framework for healthcare systems providing non-COVID-19 clinical care to facilitate a smooth transition.
Offer outreach support.
Though hospitals can take numerous steps to improve patients’ and clinicians’ experiences with virtual technology, all users benefit from readily available support. Choose a platform that allows users to interact with patient support regularly through chat, videoconferencing, and FAQs.
Bluestream Health is dedicated to facilitating a smooth transition for everyone on your term. Learn more today about the ways to quickly transition to these better models of care.
