Innovative Ways To Increase RevenueRead Time: 4 minutes
In rural areas, hospitals can often struggle to bring in revenue. These facilities serve an important purpose: providing healthcare for communities who often lack resources and options. However, due to a variety of factors, these facilities can struggle to maintain a strong financial profile. One innovative way to increase revenue for the small hospital is to utilize remote case management.
Working with a smaller pool of resources
There are many factors that tie into increasing revenue. Part of increasing revenue is maximizing resources and reducing inefficiencies. Small hospitals have a smaller pool of resources, but remote case management can be a cost-effective solution for improving efficiency. These centers serve as a triage center for patient calls after-hours when the full-time case management team has gone home. And in many rural areas, these nighttime hours are when the majority of patients come to admissions.
Another aspect of increasing revenue is maximizing reimbursement. The Centers for Medicare and Medicaid Services (CMS) has shifted the fee-for-service model to a value-based payment model. Rural hospitals often have a large percentage of Medicare and Medicaid patients, so maximizing reimbursement is vital. However, these community hospitals sometimes lack the staffing to adequately document the quality measures that are crucial for reimbursement.
Reduce strain on staff for quality reporting
Employing a telecase management team takes the burden off of other full-time employees. This means that these staff have more time for documentation, and clinicians have more time for direct patient care. Remote case management teams help to ensure that the appropriate patient sees the appropriate provider. This reduces inefficiencies, improves quality metrics, decreases the length of stay, and can add up to increased revenue.
Crucial strategies in the ER
Particularly in the emergency department (ED), rural healthcare facilities can struggle to make ends meet. In many rural communities, patients don’t have strong primary care provider relationships and, instead, present at the ED even when an outpatient setting would have been sufficient. Telehealth can play an essential role in the emergency room. Having these remote case management resources reduces the need to have robust staffing round the clock and reduces strain on physicians.
Telemedicine has proven success rates
Many facilities have already employed remote case management strategies with great success. One hospital used a strategy where patients in the emergency room had a short virtual consultation with a physician during triage. Because the overhead associated with a telehealth consultation versus an in-office visit is so much lower, this process not only improved efficiency in triage but also significantly lowered costs for the institution.
A growing field
The field of telemedicine is projected to continue to grow. With today’s technology, a remote case management strategy can lower costs, maximize resources, and increase revenue. Remote telecase management is a crucial strategy, especially for rural hospitals. Start the conversation today about how telemedicine can be a gamechanger.