The converse side of saving money from the implementation of performance improvement, incident reporting systems, and a culture of quality, is losing a whole lot more due to bad outcomes, poor incident management and patient readmissions.
According to a report out by the Agency for Healthcare Research and Quality (AHRQ), between January and November 2011 hospitals spent $41.3 billion treating patients readmitted within 30 days of discharge. Of that number, nearly 1.8 million readmissions cost the Medicare program $24 billion, 600,000 privately insured patient readmissions totaled $8.1 billion, 700,000 Medicaid patient readmissions cost hospitals $7.6 billion and uninsured patients were readmitted at a cost of $1.5 billion.
Highlighting the need for the healthcare industry adopt new means of tracking adverse incidents, the AHRQ said in the study, “[I]dentifying conditions that contribute the most to the total number of readmissions and related costs for all payers may aid healthcare stakeholders in deciding which conditions to target to maximize quality improvement and cost-reduction efforts,”.
It is this simple task of tracking adverse events which most hospitals have no efficient means of recording and acting on. Recent statistics report that nearly 75% of all hospitals in the United States are utilizing antiquated systems, relying on paper or spreadsheets, for their Risk and Quality Management. However, healthcare is coming around to performance improvement technologies pioneered and perfected in other industries — such as manufacturing — which provide real-time, accurate insight into a hospital’s quality program.
At first it takes some time to understand why an IT approach, to what has traditionally just been a passive reporting method of quality improvement, is preferable. But, it is the real-time insight that a thoughtful algorithm, within an Incident Management Software like ActionCue Clinical Intelligence, can provide which is so invaluable.
In today’s day-and-age, it is no longer necessary for patient safety and hospital management data to be delayed by days, weeks or months. Inexpensive, web-based systems, like ActionCue, deliver immediate information to staff at all levels of a hospital’s organization, allowing for a prompt and precise response to patient safety and healthcare quality issues — improving patient care and reducing hospital costs.
In 2012, more than 1,500 hospitals participated with the Hospital Engagement Network (HEN) in an initiative aimed at reducing harm and cutting readmissions of patients, which led to saving more than $1.3 billion, according to a statement from the Health Research & Educational Trust (HRET).
HEN, a collaboration between Health Research & Educational Trust (HRET) and the American Hospital Association (AHA), is focused on improving healthcare quality, improve hospital infrastructures and promote a culture of quality.
In a news release by HRET, the program prevented:
“The latest results from the HEN effort are outstanding and highlight the success that quality improvement professionals can make within their hospitals and health systems,” said Maulik Joshi, president of HRET and senior vice president for AHA.
This should be beacon for hospital executives and administrators who are searching for ROI on the quality and performance initiatives they are funding. Innovations in healthcare quality IT incident management and hospital management software, like the ActionCue application, are revolutionizing how hospitals provide care to patients. By introducing IT technologies perfected in other industries to the performance and quality management of hospitals, it is now becoming possible for administrators and front-line staff to visualize, in real-time, the performance of their hospital — allowing for near immediate actions to correct adverse incidents — preventing bad outcomes, improving patient care and dramatically reducing hospital costs.
The Prista team is looking forward to attending and exhibiting at this year’s Texas CAH Critical Access Hospital Conference & Tradeshow.
The 2014 CAH Conference & Tradeshow, hosted by TORCH (http://www.torchnet.org) at the Hyatt Regency Lost Pines Resort in Cedar Creek, Texas, June 25-26, includes two days of networking, sessions, a trade exhibit hall, and is the only educational and networking event of its kind for CAHs in Texas.
For our part, Prista will be in attendance to listen to David Pearson, MPA FACHE, President/CEO of TORCH, who is scheduled to speak on advocacy issues facing CAH facilities; and to hear Brad Denton, Director, Texas State Office of Rural Health (SORH) provide updates on the Medicare Rural Hospital Flexibility (FLEX) Program, and to stay up-to-date on Meaningful Use requirements.
We will also be showcasing our flagship healthcare online application, ActionCue® Clinical Intelligence, a patient safety software, helping hospitals around the country to reduce costs and improve patient care through an insightful, integrated Quality Management, Incident Reporting, and Performance Improvement platform.
If you are planning to attend the 2014 CAH Conference & Tradeshow, drop by our booth and learn more about the ActionCue Clinical Intelligence application. You can register online for the 2014 Texas CAH Conference & Tradeshow on the TORCH.org site, or download the registration form and mail it in. Click here for PDF of the program agenda. Find out how ActionCue Clinical Intelligence can improve your hospital’s patient safety and dramatically reduce adverse incidents; saving your organization hundreds of thousands of dollars.
We had a terrific time at last year’s conference, and are excited to be attending and participating as an exhibitor again. It’s already shaping up to be a great gathering, with over 370 healthcare professionals from across Nebraska coming to learn and network. Be sure to RSVP today to get event updates.