New online interactive tools are available from BerylHealth to help hospitals considering a change in delivery models in the wake of healthcare reform..
The calculators highlight potential hospital revenue based on patient call volume. By using data collected from patients and hospitals, the company is able to quantify physician referrals, identify patient demographics, and project downstream revenue received for the hospital or health system.
The tools also help calculate the potential financial return for referring ED patients back into the hospital network or available community resources, when appropriate. Retaining that patient within the hospital system for follow-up care ensures consistent patient care and experience between settings and yields significant downstream revenue. Compliance with follow-up care has also yielded lower readmission rates and unnecessary emergency department visits, saving hospitals additional cost associated with repeat episodes of care.
“With the release of the return on investment calculators, hospital leaders can identify potential reimbursement exposure through 2017 as it relates to avoidable readmissions and hospital HCAHPS scoring,” said Steve Whitehurst, chief customer and strategy officer for BerylHealth, in a statement. “When we engage our clients, we look for ways to support them strategically to improve the patient experience. We know hospitals and health systems are looking for ways to engage patients and retain them long-term. Our ROI calculators are able to measure the financial impact of keeping patients in the hospital system, while utilizing the appropriate level of care.”
The return on investment calculators will initially be launched at the Society for Healthcare Strategy and Market Development annual conference, on Sept. 19 in Philadelphia. These calculators produce financial returns and estimates unique to each hospital system.