Driving Value-Based Care through Effective Healthcare Operations
Manage Costs, Improve Outcomes
The economic pressure on the healthcare value chain has created significant margin compression for the past several years. For providers, the difference between year-over-year marginal cost of care increases vs. reimbursement has consistently left a gap to overcome.
Regardless of practice size, operational efficiency is table stakes to both manage costs and maximize revenue. Confident practice and revenue cycle management is a prerequisite to success in the age of value-based care — it demands future-ready technology and innovative solutions.
Medical Practice Management
Medical practice management represents an important intersection between process, oversight and technology. Great management requires well-suited technology to empower practice directors to know and understand all major administrative and clerical aspects of their practice.
Revenue Cycle Management
Similarly, excellence in revenue cycle management requires confident control of end-to-end finances across the entire care continuum. Healthcare costs continue to grow as a percentage of GDP; at the same time, the average American household is in the worst economic condition in post-industrial history. With people’s ability to pay decreasing, reimbursement rates lagging and costs increasing, the healthcare revenue cycle has a challenging landscape ahead.
Realize Efficiency through Tailored Solutions
A variety of technologies exist to handle these administrative and financial needs, but many tools can be hard to use or poorly tailored to the average administrative healthcare professional’s needs. Often, significant training is required to manage these tools. Some practices still rely on homegrown tools that have retained their original form from a pre-consumer digital era. The impact of these inefficiencies can increase the administrative cost of care significantly, while also allowing revenue capture to slip through the cracks.
Nerdery’s expertise and custom software capabilities help practice directors:
Leverage Artificial Intelligence for automated insights
Make the most out of existing technologies
Create better user experience for critical administrative workflows
Capture financial value across the entire healthcare value chain
Develop custom solutions that help their existing ecosystems return cumulative value
Appointment No-Show Dashboard
No-shows plague healthcare providers, costing them an estimated $150 billion a year. When patients don’t show up to an appointment, it hurts other patients that may have more urgent conditions that otherwise couldn’t get in sooner, thus hurting overall outcomes. Leveraging Artificial Intelligence, the dashboard below illustrates how providers can identify patients at risk of not showing up.
A provider view would show a queue of patients that need to reschedule canceled appointments based on identifying slots that are opened from predicted no-shows. The patients would then be prompted to reschedule via texts or by requesting a callback.