Preparing for Value-Based Care Pays Off
Novant Health saves $100 million, improves patient care through transformational change
As the healthcare industry attempts to move away from the fee-for-service model, Novant Health is looking to the future. Novant was a HIMSS Davies Award winner in 2017, and at the 2018 HIMSS conference, they discussed how their preparations for value-based care have been highly valuable already.
“We knew we wanted to reduce the cost of collections and reduce A/R days,” said Ryan Neaves, director of EpicCare Ambulatory at Novant, “but it was hard to get concrete data.” To get that concrete data, Novant consolidated their billing offices and started using robust Epic reports to analyze how various hospital actions affected patient discharge times.
Over the course of the project, Novant established better communications between revenue cycle and IT, pinpointed the places where Epic functionality could help, and created a new discharge planning process to help patients schedule follow-up appointments and preventative screenings. As a result, they’ve seen a significant decrease in total discharges, A/R days, bad debt percentages, and the cost of collections.
“It’s about empowering people to be able to access the data they need and use it,” said Neaves. “When we talk about value and ROI, we can put dollars and cents to this. We’ve saved more than $100 million. But at the end of the day, it’s about how well we take care of our patients and our team members. And we’ve seen an increase in overall wellness.”
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