September 6, 2011
Healthcare providers are searching for ways to wisely invest in capital equipment that positively impacts patient care and the bottom line. Here are six points to consider when engaging in the capital equipment investment process:
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Consider In-Sourced Service Models: One of the primary areas often overlooked for savings opportunities or potential expense reduction is service contracts.
- Manage Equipment Through Extended Warranties
- Make Medical Devices A Biomed Purchase
- Standardize
- Don’t Overspend on Equipment Extras
- Partner With a Vendor-Neutral Third Party
Posted in Mass Media Articles, READ Portal | Tagged with Cost effectiveness, Economics, Efficiency, Health care costs | No Comments
August 25, 2011
As private and public employers strive to improve workforce health and control healthcare costs, the patient centered medical home (PCMH) is emerging as an important strategic component
to achieve these goals. The PCMH enables clinicians to deliver better quality care more efficiently. Central attributes of the PCMH include a holistic, team-based approach to primary care that is accessible, coordinated, and comprehensive. PCMH incorporates re-engineering of office processes and payment systems to reward an ongoing primary care physician-patient relationship and high-quality, coordinated care. Through better informa- tion management, use of guidelines and coordinated care, PCMH can contribute to better quality of care, which, in turn, drives cost reductions through avoided hospitalizations and emergency department visits.
While employer interest in PCMH continues to rise, an important issue facing employers concerns the measurement of value of PCMH implementation. From a pragmatic perspective, this information is necessary to help justify initial and ongoing employer investments in PCMH. And despite this observation, there is no consensus regarding specific measures or metrics to evaluate PCMH program effectiveness.
Posted in READ Portal, Reports & Papers | Tagged with Cost effectiveness, Indicators, Patient-centered care, Program evaluation | No Comments
August 17, 2011
“Despite widespread acknowledgment of waste and inefficiency in the U.S. health care system, there have not been dramatic breakthroughs that point the way to more cost-effective alternatives. The problems that contribute to high costs and mediocre quality are complex and intertwined with the organization and financing of health services. There are, however, changes under way within leading organizations that suggest significant improvements in quality and value can be achieved. In 2008, the Leapfrog Group’s Hospital Recognition Program began identifying hospitals that have made “big leaps in health care safety, quality, and customer value.” Thirteen hospitals out of nearly 1,300 who voluntarily submitted data in 2008 achieved top scores in quality of care while keeping resource use low.
To learn what opportunities exist for all hospitals to achieve greater efficiency, we conducted case studies of four of the 13 Leapfrog Group–designated “Highest Value Hospitals.” These included Fairview Southdale Hospital in Edina, Minn., North Mississippi Medical Center in Tupelo, Miss., Park Nicollet Methodist Hospital in St. Louis Park, Minn., and Providence St. Vincent Medical Center in Portland, Ore. This paper offers a synthesis of lessons from their experiences.”
Posted in READ Portal, Reports & Papers | Tagged with Benchmarking, Cost effectiveness, Efficiency, Quality assessment, Quality improvement | No Comments
August 3, 2011
“Clinician dependent costs are the costs of care that are under the discretion of the healthcare provider. These costs include the costs of drugs, tests and investigations, and discretionary outpatient visits and impatient stays. The purpose of this review was to summarize recent evidence, relevant to both developed and developing countries on whether evidence based clinical guidelines can change hospitals variable costs which are clinician dependent, and the degree of financial savings achieved at hospital level. Potential studies for inclusion were identified using structured searches of Econlit, J-Stor, and Pubmed databases. Two reviewers independently evaluated retrieved studies for inclusion. The methodological quality of the selected articles was assessed using the Oxford Centre for Evidence- Based Medicine (CEBM) levels of evidence. The results suggest that 10 of the 11 interventions were successful reducing financial costs. Most of the interventions, either in modeling studies or real interventions generate significant financial saving, although the former reported higher savings because the studies assumed 100 percent compliance. “
Posted in Journal Articles, READ Portal | Tagged with Cost effectiveness, Economics, Health care costs | No Comments
May 5, 2011
“The objective of the report was to review the evidence on the impact of health information technology (IT) on all phases of the medication management process (MMIT) (prescribing and ordering, order communication, dispensing, administration and monitoring as well as education and reconciliation), to identify the gaps in the literature and to make recommendations for future research.
(The results show) physicians were more often the subject of evaluation than other participants. Other health care professionals, patients, and families are important but not studied as thoroughly as physicians. These nonphysicians groups often value different aspects of MMIT, have diverse needs, and use systems differently. Hospitals and ambulatory clinics were well-represented in the literature with less emphasis placed on long-term care facilities, communities, homes, and nonhospital pharmacies. Most studies evaluated changes in process and outcomes of use, usability, and knowledge, skills, and attitudes. Most showed moderate to substantial improvement with implementation of MMIT. Economics studies and those with clinical outcomes were less frequently studied. Those articles that did address economics and clinical outcomes often showed equivocal findings on the effectiveness and cost-effectiveness of MMIT systems. Qualitative studies provided evidence of strong perceptions, both positive and negative, of the effects of MMIT and unintended consequences. We found little data on the effects of forms of medications, conformity, standards, and open source status. Much descriptive literature discusses implementation issues but little strong evidence exists. Interest is strong in MMIT and more groups and institutions will implement systems in the next decades, especially with the Federal Government’s push toward more health IT to support better and more cost-effective health care.”
Posted in READ Portal, Reports & Papers | Tagged with Cost effectiveness, Health care costs, Health technology, Technology | No Comments
