Improving quality and lowering costs August 31, 2017
In an environment that is experiencing increasing costs, physicians and patients alike long for a time when the financial impacts of healthcare will start to decrease while the quality of delivery significantly improves. The transition to value-based care may be part of the solution, as physicians begin to be reimbursed based on the quality of patient outcomes rather than on the number of office visits or procedures.
A 2014 report published by The National Center for Biotechnology Information states that “expenditures in the US health care system total almost $3 trillion per year and account for 18% of the gross domestic product (GDP) or about $8,000 per person annually.” In terms of the quality of care received for these expenditures, the US ranks lower than most other developed countries. In fact, the World Health Organization (WHO) ranked the US 37th in overall health status.
Independent physicians are understandably concerned about maintaining their financial stability while also continuing to provide the highest level of care available to their patients. A large portion of the healthcare costs involved in care delivery can be attributed to physician decisions regarding a patient’s care plan as well as to overhead expenses.
When the physician has access to the patient’s complete medical profile, including notes from specialty providers, labs, and healthcare facilities regarding the patient’s diagnosis and treatment, that physician can more efficiently manage the patient’s healthcare plan. Streamlined electronic communication between the physician and patient and between multiple providers can help ensure that redundancies are reduced and quality of care is increased. In addition, an effective practice management tool can help efficiently manage the operations behind the independent physician’s practice and reduce the burden of day-to-day administrative tasks.
Elation Health is focused on bridging that gap between the world of policy and payers, and the world of the front-line physician. Our solutions are designed to transfer the face of healthcare delivery, so independent physicians and their patients can realize their goals of lowered costs and improved care quality.