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One analysis found overall, inpatient and/or observational admissions dropped by 30%, readmissions decreased by 46%, and total costs of care fell by 20%. According to recent data, just 1% of patients account for more than 20% of healthcare expenses related to use of emergency rooms, hospitalisations, and readmissions to hospitals. The 30-day readmission rate for patients with complicated and expensive medical illnesses at University of Virginia Health was as high as 17% to 18% per year in 2017. This positioned the health system close to the bottom among academic medical centres in the state and in the 50th percentile of comparable academic medical institutions nationwide. Two factors made this problematic. Penalties for readmissions reduce revenue solely from a commercial standpoint. Second, from a practical standpoint, readmitted patients might take up beds and resources that could be allocated to patients who require more intensive medical attention.
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The Innovator’s Canvas 3 can help you understand how to prepare and deploy various business models much more quickly and cost effectively. The canvas can be helpful in working with vendors and …
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