In the News: November 9-15
Staffing Costs Rise as US Hospitals Face Nursing Shortage
A recent Reuters infographic highlights some repercussions hospitals face when dealing with the nationwide nursing shortage. According to Staffing Industry Analysts estimates, the travel nurse market has grown from $2.5 billion in 2014 to an estimated $4.8 billion in 2017.
Mountain States Health Alliance relied heavily on traveling nurses before implementing a predictive analytics tool to create a more cost-effective workforce model. Read more about their approach and results, highlighted in the Sg2 Case Study: Analytics Wring Out Staffing Costs.
Academic Surgical Partnerships Can Reduce Surgical Costs
A recent study presented at the 2017 American College of Surgeons Clinical Congress explored the placement of academic surgeons in rural hospitals. These partnerships between rural hospitals and academic surgery departments were found to reduce the rural hospitals‘ surgeon recruitment and staffing costs, with an average increase in net revenue of $4.7 million. With increased availability of surgical services in the community, patient transfers were reduced by 70%, resulting in higher patient satisfaction.
Sg2 believes that successful partnerships between rural hospitals and health systems depend on developing low-cost, high-impact collaboration options that improve access to care in rural communities and support health systems’ strategic goals. To learn more about collaboration options between health systems and rural providers, read the Sg2 Expert Insight: Collaborating with Rural Providers to Find Growth.
PCMH Elements That Drive Outcome Improvement Are Identified
A working paper titled “The Economics of Patient-Centered Care” found that implementation choice for a patient-centered medical home (PCMH) affects performance, suggesting that generally unobserved features of primary care reorganization influence patient outcomes. A research group at The Wharton School at the University of Pennsylvania notably had unique access to both patient-level claims data from Independence Blue Cross of Philadelphia and detailed National Committee for Quality Assurance data on specific capabilities for medical home practices.
The PCMH care delivery model is seen as a way to transform primary care for the better, but the evidence regarding the model’s impacts on patient experience, utilization and expenditures remains mixed. Adopting new models of care like PCMH requires implementation strategies to successfully revamp care delivery in your organization. To learn which strategies organizations should take, check out the Expert Insight: Sg2 Strategic Countdown: The Case for Well-Timed Care Redesign.