Measuring Practice Success and Patient Care:
Monitoring Hospitalization and Readmissions Trends
Eric Urquiza, Sr. Vice President of Operations & Client Experience at AristaMD
Control costs by monitoring hospitalization and readmission trends. eConsults can help prevent hospitalization and readmission by allowing PCPs to build:
- More robust preventive care plans.
- Address nuances related to chronic conditions.
- Identify patients at risk for readmission and prioritize interventions.
The average hospital stay cost is $11,7001 – the most expensive type of care utilization. Preventing even one hospital stay delivers significant shared savings.
The 30-day readmission cost is about $15,000 per patient, and about 14% of patients are readmitted. AristaMD eConsults related to the care of patients following a hospitalization. These requests are often associated with chronic conditions – COPD, Congestive Heart Failure, and Hypertension.
How eConsults Improve Health System Revenue Strategy by Optimizing Referral Management
Fee-for-service (FFS) remains the most common health system revenue strategy across the United States. For FFS health systems, it’s imperative to support network optimization strategies to solidify revenue flow and efficiency. FFS health systems must balance competing issues such as improving patient retention, reducing readmissions, and efficiently distributing low- and high-acuity cases to maximize the value of specialty care within these systems. In addressing each of these and other initiatives, communication is essential.
1. Improve Patient Retention
For healthcare organizations across the board, improving patient retention, or reducing patient leakage, is a vitally important goal for shoring up revenue. The reason for this is apparent: patient leakage is expensive.
- According to 2018 survey data, 43% of healthcare organizations are losing more than 10% of their revenue
- 19% of healthcare organizations are losing more than 20% of revenue as a result of patient leakage
- 54% of referrals lead to completed specialist appointments
- According to Health Care Dive, almost half of doctors struggle to determine what specialists are in-network
Eric Urquiza
Sr. Vice President of Operations & Client Experience at AristaMD
Eric has 20 years of experience driving transformational healthcare IT programs, advancing patient care, improving access and outcomes for patients through technological solutions. He has been successful in leading many strategic client relationships and increasing provider adoption of telehealth solutions, ultimately leading to strong efficacy for underserved populations throughout the country. Eric holds a Master of Business Administration from the University of Redlands.