In the News: May 28–June 4
Health System Adopts Successful Holistic Care Model
A recent Healthcare Finance article describes a successful implementation of data analytics to deliver better patient outcomes, as a large health system standardized a holistic care model within its palliative care service line, ultimately hoping to expand across others.
The system focused on palliative care because it is unique, requiring attention to physical, psychological and spiritual needs. This care resembles value-based care in that key elements include whole-person views, coordination between providers and shared-decision making. However, one of the most prominent obstacles for value-based care is the lack of consistent and widely available patient outcome measurements. The health system implemented personalized care plans tailored to patient individual goals, saved advanced care plans in EHR and documented goal conversations for the palliative care population. It also developed several dashboards to define the value of care that focused on process and outcome measures. A key component to its success was implementing widespread data visibility across the organization to facilitate goal-aligned care.
Today’s heightened focus on patient outcomes is prominent within the palliative care model, with objectives of coordinating care through a holistic approach, and health systems are adopting successful models with other service lines to help improve patient outcomes. Please read the Sg2 FAQ Community-Based Palliative Care to learn more about various ways providers have created holistic care models through palliative care models.
Start-up Plans to Scale Women’s Health Services
A recent Forbes article highlights Tia, a 3-year-old start-up that held more than 200,000 individual conversations with women in the first few months of launching their WebMD-like app. After its initial success, Tia scaled the app to offer end-to-end services for women and launched their first in-person Tia Clinic in New York City early last year—they currently serve around 3,000 women.
Interested women can pay $15 per month to gain unlimited messaging access with Tia’s in-house gynecologist, primary care provider, acupuncturist and licensed therapists, and health insurance can be used for same-day appointments. Tia has recently added virtual video consults and behavioral health services, while its integrated medical record platform provides seamless care coordination.
Women are powerful drivers of health care utilization, both directly and indirectly, and many organizations recognize the need for consumer-driven strategies to better understand, segment and capture utilization in this key consumer population. To learn more about how to build a comprehensive women’s health program, please read the Sg2 FAQ Comprehensive Women’s Health: How to Develop Services and Engagement.
Early Predictions Underestimated COVID-19’s Impact
A recent Healthcare Finance article highlights research from University of California Berkeley and Kaiser Permanente showing that some factors, like number of patients needing ICU care and ALOS, are putting a larger strain on hospitals resources than was anticipated.
Initial estimates based on data from China forecasted 30% of coronavirus patients would need ICU care, but probability of ICU admission in the US was 40.7%. ALOS was also higher than previously estimated, with 9.3 days for survivors and 12.7 days for nonsurvivors, with the long LOS suggesting virus transmission could threaten hospital capacity. Such challenges place extreme financial burden on hospitals, with operating EBITDA margins falling to –19%.
To truly assess financial position and alter strategic plans as necessary, health system strategy and finance teams need a unique, long-term view of how COVID-19 will continue to impact revenue, and the levers that can be manipulated to dampen its effect. To gain a clear line of sight into normal operations and revenue/contribution margin recoupment, access the Sg2 COVID-19 Financial Recovery Calculator to help assess your organization’s financial picture.
Tags: community-based care, consumer-driven strategies, contribution margin, coronavirus, financial burden of COVID-19, holistic care, palliative care, patient outcomes, revenue, value-based care, women's health