Focus on Reducing the Cost of Care

Reducing the cost of care requires aligning incentives of providers, payers and patients

Congress, government agencies, presidential candidates, consumers and the industry itself talk about the need to lower healthcare costs, but what does this entail? Many want to target drug costs and the Centers for Medicare and Medicaid Services has mandated hospitals to post their chargemaster prices for consumers to choose the lowest-priced option. And providers need to collect every penny owed them and combat revenue leakage. This month, Healthcare IT News, MobiHealthNews and Healthcare Finance News take a look at what all of this means and how technology, as always, is spurring innovative solutions.

-- Susan Morse, senior editor, Healthcare Finance News

What you need to know

News

UnitedHealthcare app gives members on-demand access to telehealth services

by Max Sullivan

The app also allows users to manage prescriptions, see information on deductibles and out-of-pocket spending, and locate physicians and hospitals using GPS technology. 

News

Health leaders ramp up AI investments as confidence in the technology grows

by Nathan Eddy

Administrative process improvements top the list of investment priorities, led by technologies to help automate business processes like administrative tasks or customer service.

News

AMA Board Chair on AI's opportunities for optimizing healthcare operations

by Mike Miliard

Dr. Jesse Ehrenfeld explores the practical implications of artificial intelligence and its impacts on quality, safety, cost reduction, patient engagement and more ahead of his roundtable session at the Connected Health Conference in Boston Oct. 16.

News

HHS and CMS are offering safe harbor to Stark Law to promote value-based, coordinated care

by Susan Morse

Example of change is allowing a hospital to donate free cybersecurity software to each physician that refers patients to its hospital.

News

Go365 wellness program reduces healthcare costs, Humana says

by Susan Morse

Members are given financial and other rewards for participating.

News

Atrium Health merges SDOH data into its Cerner EHR to improve care, trim costs

by Bill Siwicki

The North Carolina health system expects to see a decrease in emergency department utilization and readmission rates.

News

InterSystems unveils Clean Data as a Solution, helping normalize datasets for analytics ROI

by Mike Miliard

The new offering, which includes patient matching, aggregation, normalization, deduplication and more, can help health systems launch more effective AI and machine learning projects, the company says.

News

Cerner teams with i2i for Medicaid cost savings tools

by Nathan Eddy

The integration between Cerner's HealtheIntent and i2i’s analytics products will offer clients a broader set of pop health management capabilities, the companies say, enabling more data-driven insights for Medicaid populations.

News

Aledade touts cost saving successes of its ACOs

by Nathan Eddy

The company, founded by former National Coordinator for Health IT Dr. Farzad Mostashari, says advanced analytics are helping its accountable care organizations drive big efficiencies.

News

Rising animosity toward healthcare costs means ripe opportunity for insurtech startups

by Dave Muoio

As politicians and their constituents grapple over Medicare for All, these well-funded startups hope to capitalize on the public’s appetite for new, consumer-friendly approaches to health insurance.

News

Revenue cycle, billing improvements trump lawsuits when it comes to collecting

by Jeff Lagasse

Making the process more palatable for consumers can help to avoid revenue leakage and lawsuits.

News

Vim's platform raises $24M to guide patients toward high-quality, low-cost care

by Dave Muoio

Optum Ventures and Premera Blue Cross led the Series B round.

News

CMS unveils new rules aimed at clinician burden, patient experience

by Mike Miliard

The Omnibus Burden Reduction and Discharge Planning rules both aim to reduce red tape and enable transparency, says Centers for Medicare & Medicaid Services Administrator Seema Verma.

News

3M and M*Modal launch new AI-powered CDI tool

by Mike Miliard
For their first new post-acquisition technology, 3M Health Information Systems and M*Modal have unve
News

Health 2.0: Providers must reinvent themselves to achieve quadruple aim

by Mike Miliard

Dr. Albert Chan, chief of digital patient experience at Sutter Health, says health systems have to get better at interpreting data in novel ways to make good on their promise to patients.

News

How should your organization assess telehealth ROI?

by Mike Miliard

A new report from Manatt Health Strategies points to big differences in how return on investment should be gauged, depending most importantly on provider type – but also on acuity mix, IT infrastructure, staffing and other considerations.

News

How merging financial and clinical data saved Yale New Haven Health $150 million

by Bill Siwicki

The massive undertaking, based around a new cost accounting system, is all part of a strategy to prepare for value-based reimbursement.

News

How asynchronous telemedicine saved SSM Health 18 minutes per visit

by Bill Siwicki

The health system is averaging 600 virtual visits per month with its new telehealth offering, gaining efficiencies for caregivers and boosting patient satisfaction.

News

How mobile RFID communications and OR workflow tech saved one hospital $1M annually

by Bill Siwicki

At Adventist Health White Memorial, reducing OR turnaround time by just three minutes may seem small – but at five turnarounds per day, multiplied by six operating rooms, it adds up to $974,160 per year.

News

How University of Rochester uses AI to reduce risk of failed follow-up

by Bill Siwicki

The University of Rochester Medical Center uses analytics with natural language processing to support the organization’s Backstop tracking program at six of its hospitals. It has seen a 29% increase in the recommended examination completion rate.

News

Cerner partners with Simplee on price transparency

by Nathan Eddy

Cerner will add Simplee's financial engagement platform to its revenue cycle portfolio and incorporate its billing tools into its consumer-facing technology

News

Physician pay increased in 2018 while productivity remained stagnant

by Jeff Lagasse

Physician compensation rebounded from a stagnant 2017, but the increase in productivity was negligible.

Related videos on HIMSS TV

Video

NantHealth using partnerships to provide better patient outcomes

by HIMSS TV

Mark Jackson of precision medicine company NantHealth was at Health 2.0 looking for new opportunities to bring valuable cloud-based data to physicians at the point of care.

Video

Integrating cost into the care conversation

by HIMSS TV

There are ways patients and providers can more effectively navigate the complexity of healthcare costs, says Rebekah Angove, vice president at the Patient Advocate Foundation.

Video

Putting AI to work for better care at lower cost

by HIMSS TV

Leonard D'Avolio, founder and CEO of Cyft, says machine learning is only a means to an end, helping organizations learn from data more quickly and intuitively.

Video

Healthcare is transforming to take on challenge of value-based care

by HIMSS TV

This is the year that health tech ideas are coalescing toward a real sea change, says Dr. Charles Alessi, chief clinical officer at HIMSS International.