Historical analysis from the Medicare Payment Advisory Commission (MedPAC) showed that about 75% of readmissions are preventable, and that preventable readmissions are costing Medicare over $12 billion annually.
Los Angeles, CA (PRWEB) October 29, 2014
24Hr HomeCare, an award-winning in-home care services provider, today announced that it has been named as a finalist for the Patrick Soon-Shiong Innovation Awards. The Award Program, presented by the Los Angeles Business Journal, was created by Dr. Patrick Soon-Shiong to acknowledge people and organizations that enhance the vibrancy of the business community in the California region. The prestigious award honors 15 local organizations that “continue to stretch the boundaries and have proven to be leaders in innovation.”
The Patrick Soon-Shiong Innovation Award recognition comes on the heels of a major study on the link between professional caregiving and hospital readmissions, presented by 24Hr HomeCare, in conjunction with the second largest managed care group in California, HealthCare Partners. The study examines how 24Hr HomeCare’s Hospital To Your Home™ Care Transitions Program, in which 24Hr HomeCare staff provides vital support to the patient in the first thirty days after discharge, can reduce preventable hospital readmissions for patients diagnosed with congestive heart failure.
“We are especially humbled to be a finalist for this particular award, because as a company, we have been working relentlessly to deliver consistent innovation in the services we provide, and how we provide them. We have developed streamlined processes in diagnosis-specific care, fall prevention, and Caregiver screening and training, so as to provide a level of care that can be transformative to a senior’s quality of life,” says Gavin Ward, Regional Director of Strategy and Partnerships at 24Hr HomeCare. “Historical analysis from the Medicare Payment Advisory Commission (MedPAC) showed that about 75% of readmissions are preventable, and that preventable readmissions are costing Medicare over $12 billion annually.”
The Patrick Soon-Shiong Innovation Symposium and Awards Dinner will honor Finalists at the Beverly Wilshire Hotel in Beverly Hills on Tuesday, November 18th.
About The Patrick Soon-Shiong Innovation Awards
Dr. Patrick Soon Shiong, CEO of the Healthcare Transformation Institute and NantWorks, LLC., was previously recognized by the Los Angeles Business Journal as their 2010 Business Person of the Year. For the fifth year, NantWorks and the Los Angeles Business Journal are presenting the Patrick Soon Shiong Innovation Awards to recognize the individuals and organizations that are providing impactful new solutions to our community and leading innovation within the state.