Efficient Data Connectivity Mitigates Economic Impact of Pandemic
Following a checklist improves data capture, enhances patient engagement, and increases access to care.
In the wake of revenue loss related to COVID-19, smaller hospitals, public hospitals and rural hospitals are among those most likely to face financial challenges and may be at risk of closing or merging. If patients don’t receive non-emergent care, health outcomes will decline. This will impact patient outcomes and performance, which are increasingly tied to financial incentives by private payers and CMS.
Furthermore, payers have seen an overall reduction in claim volume, particularly in commercial lines of business, as members lose employer-sponsored coverage. Additionally, there has been a drop in emergency department, inpatient and office visit claims across all plan types.
In this uncertain environment, healthcare leaders must take proactive steps to close care gaps and ensure patients can access the level of care they need to prevent disease and control chronic conditions. This means finding new ways to tap into operational efficiencies and adopt tools that deliver a 360-degree view of the patient and intelligent analytics to identify care gaps and closure opportunities for quality and risk adjustment.