Tag: Healthcare spending

Hospitals-Comply-with-the-Price-Transparency-Rule

Only a Few Hospitals Comply with the Price Transparency Rule

Over 1,500 hospitals reviewed in the report were noncompliant with at least one requirement of the price transparency rule between December 2022 and January 2023. Less than a quarter of hospitals are complying with the hospital price transparency rule over two years after the regulation went into effect, according to a report from PatientRightsAdvocate.org. The […]
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Automating-Claims-Management-Processes-May-Reduce-Costs

Automating Claims Management Processes May Reduce Costs

The adoption of electronic transactions increased in 2021, but further automation of claims management processes could save healthcare providers nearly $25 billion annually. Automating claims management processes could help healthcare providers curb the high spending on administrative transactions they saw in 2021, according to the 2022 Index report from the Council for Affordable Quality Healthcare, […]
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Value-Based-Payment-Models-Can-Limit-Healthcare-Spending

Value-Based Payment Models Can Limit Healthcare Spending

Value-based payment models, including accountable care organizations, bundled payment models, and capitation models, can generate savings for providers and limit healthcare spending. As healthcare spending escalates in the US, stakeholders have started looking at value-based payment models to address rising costs, but many payments are still tied to fee-for-service models, according to a Health Affairs […]
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Inflation-Driving-Financial-Challenges-for-Consumers

Inflation Driving Financial Challenges for Consumers

Almost a third of consumers cited inflation as their top reason for being concerned about covering unexpected healthcare costs. More than 70 million adults feel unprepared to pay for healthcare costs, while health systems are facing a tight labor market and ongoing supply chain issues, highlighting the financial repercussions of inflation in the healthcare industry. […]
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Role-of-Compliance-in-Protecting-Patients

Role of Compliance in Protecting Patients

Digital technologies are transforming healthcare by reducing human errors, facilitating the coordination of care, and improving efficiencies within medical practices. Healthcare IT enables providers to more easily manage the practice, big or small, so they can focus on serving their patients. Because of the sensitive personal and health information stored and transmitted via digital health […]
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Hospitals To Take Drastic Cost-Cutting Measures

Hospitals To Take Drastic Cost-Cutting Measures

Economists say hospitals will have to enact “aggressive cost-cutting measures,” including department or service line closures, to stabilize profit margins. Hospitals will need to take drastic cost-cutting measures to stabilize balance sheets after one of the worst financial years in decades, according to economists. Those measures may include department and service line closures or even […]
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COVID-19-Booster-Campaign-Saves-$44B

COVID-19 Booster Campaign Saves $44B in Healthcare Spending

In addition to healthcare spending reductions, Commonwealth Fund also reports that a COVID-19 booster vaccination campaign would also prevent over 75K deaths and 745K hospitalizations. A COVID-19 boost vaccination campaign could seriously impact potential healthcare spending this fall and winter, according to a new analysis from the Commonwealth Fund. The private think tank recently examined […]
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ED-ICU-Model-Improves-Value-of-Healthcare-Delivery

ED-ICU Model Improves Value of Healthcare Delivery

The ED-ICU model has the potential to improve the value of healthcare delivery, as it has been shown to improve care quality and have little impact on emergency department costs. Total cost per emergency department (ED) patient encounter remained unchanged at an academic medical center after it implemented an emergency department-based intensive care unit (ED-ICU), […]
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Hospital-Expenses-Since-2016

Hospital Expenses Have Increased 23 Percent Since 2016

Supply chain issues, medication costs, and labor challenges sparked by the COVID-19 pandemic have contributed to the spiking hospital expenses. Hospital expenses have increased 23 percent since 2016, a spike researchers attributed to continuous COVID-19 challenges, according to a recent analysis. By analyzing American Hospital Association data, investigators noticed hospital expenses increased 47 percent in 2020when […]
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