The healthcare industry’s economic and regulatory environment can be unpredictable, and the transition to value-based care is coming on fast. New industry watchwords such as “quality,” “outcomes,” and “value” are everywhere. How hospitals and health systems adapt can make the difference for a healthy bottom line and the ability to continue servicing the communities in which they exist.
The statistics below are in reverse chronological order and will be updated.
**Updated March 22, 2018**
92% of clinicians say lengthy prior authorization protocols have impeded timely patient access to care and harmed patient clinical outcomes, according to an American Medical Association survey. Such delays can be frustrating for patients and providers.
Source: “Most Docs Say Prior Authorization Harms Patient Access to Care,” Patient Engagement HIT, March 20, 2018
75% of readmissions could have been prevented with better care coordination, according to estimates from the Medicare Payment Advisory Commission.
Source: “Readmission Cost Savings are a Reality with Enhanced Patient Engagement,” Managed Healthcare Executive, March 18, 2018
89% of senior patients (age 55 and older) surveyed said they want to manage their own healthcare and will need health technology access to do so.
35% said their health plans do not adequately use health technology to make healthcare easier.
76% want more information about how to improve their own health.
60% said they need this information in more understandable, everyday language.
10% want home visits from their doctors and complimentary transportation to office visits.
21% want on-demand access to a doctor via telehealth.
24% expressed interest in receiving notifications for remote patient monitoring.
Source: “Seniors Want Patient Engagement Technology for Care Management,” Patient Engagement HIT, March 14, 2018
Average wait time was 20 minutes in clinician practices and 17 minutes in hospital-owned physician practices according to a 2017 survey from the Medical Group Management Association. Long wait times can be a considerable detriment to the patient experience.
Source: “Solutions for Reducing Healthcare Appointment Wait Times for Patients,” Patient Engagement HIT, March 12, 2018
Patients experienced an 11% increase in average out-of-pocket costs during 2017, rising from $1,630 in Q4 2016 to $1,813 in Q4 2017.
Source: “Patient Payment Responsibility Increases 11% in 2017,” TransUnion Healthcare, March 5, 2018
About 67% or respondents to a survey of healthcare executives say EHRs have failed to deliver better population health management tools, and about half claim they would be willing to switch EHRs to get these capabilities.
64% of providers said EHRs have failed to deliver many critical value-based care tools.
60%-75% of providers are seeking third-party solutions outside their EHR for value-based care solutions.
Source: “Report: Are EHRs Meeting Providers’ Needs for Value-Based Care Capabilities?” Healthcare Informatics, March 2, 2018
Personalized care from providers — including clear communication and sensitivity — is respondents’ No. 1 health care priority, according to a Deloitte survey of healthcare consumers.
Patient satisfaction accounts for a difference of $444 of net patient revenue (per adjusted patient day) between “excellent”-rated and “moderate”-rated hospitals.
“Excellent” vs. “Moderate” ratings account for a 60% difference in financial performance.
A 10% increase in patients rating hospitals as “excellent” increases margin by 1.5%.
Source: “2018 Global health care outlook: The evolution of smart health care,” Deloitte, Jan. 9, 2018
49% of provider executives say customer experience is a top strategic priority over the next five years.
81% of payer executives say their company is investing in technology to improve member experience.
91% of pharma executives think that patient self-management will increase over the next 10 years with pharma companies’ patient engagement services.
Source: “Customer experience in the New Health Economy: The data cure,” PricewaterhouseCoopers, January 2018
Only 15% of senior finance professionals surveyed by KaufmannHall say their organizations are “very prepared” to manage evolving payment and delivery models with current financial planning processes and tools.
Only 25% are “very confident” in their team’s ability to quickly and easily make adjustments to strategies and plans.
Source: “2018 CFO Outlook: Performance Management Trends and Priorities in Healthcare,” KaufmannHall, January 2018