The VBP revenue variance between top performing and low performing hospitals from these high-impact workforce VBP drivers can range as much as 89%.
Austin, TX (PRWEB) November 19, 2015
The HealthViZion Research Institute published the 2015 Q3 edition of the HealthViZion Report: Increasing Value Based Purchasing revenue (“VBP”) resulting from the passage of Affordable Care Act (“ACA”).
In an historic move, HHS sets clear goals and timeline for shifting Medicare reimbursements from volume to value and higher Risk. As much as 5.5% of CMS revenue is now at stake and by legislation will increase this up to 20% by 2018.
This HealthViZion Research Institute report discusses ground-breaking VBP findings encompassing 40 major U.S. hospitals averaging 346 beds including: Faith Based, For Profit, County and Major Medical University. HealthViZion has discovered over 20 specific workforce drivers, many previously hidden and nearly all previously unmeasurable and unmanageable, which scientifically drive high and low Value Based Purchasing, Hospital-Acquired Conditions and High Readmissions revenue. The VBP revenue variance between top performing and low performing hospitals from these high-impact workforce VBP drivers can range as much as 89%.
VBP Workforce Impact Correlations and key metrics in this report include:
The average hospital loses between 11%-14% for “Known” Paid Lost Workforce Productivity. HealthViZion research discovered that the “Unknown” Paid Lost Workforce Productivity accounted for an additional 8%-12% of Lost Productivity depending on Turnover levels of Direct Patient Care employees – nearly all replacements paid at premium labor rates. HealthViZion discovered that 15%-40% of this hidden Lost Workforce Productivity could be recovered through inexpensive workflows, software system automations and process improvements with little change management.
- Predicted 1-Year Turnover of Registered Nurses impact on VBP Revenue
The analysts discovered “Predicted 1-Year Turnover of RNs” as a much more accurate factor than historical trends. The unexpected result is that the hospitals in the 3rd, “middle,” quintile of Predicted 1-Year Turnover of RNs score the highest in Overall VBP Revenue and Process of Care scores. This in counter to the traditional belief regarding RN turnover in the old Volume based revenue model that low RN Turnover was best. Data show that 75% of the hospitals with low single digit RN turnover score poorly in VBP revenue.
- Average Age of Registered Nurses (“RNs”) impact on VBP Revenue
70% of hospitals with the highest average age of RNs, 47–49 years old, are in the top 2 quintiles of VBP Revenue. When reviewed with the RN Tenure Turnover data below, it shows that the combination of highly experienced RNs along with low-turnover of New-Hire RN’s (2 Years or less of Tenure) generate high Patient Satisfaction scores.
Another key insight from this analysis is that less experienced RN staffs correlated to 86% - 100% of the low VBP Revenue and low Scores including: Overall VBP Revenue, Patient Satisfaction and Process of Care.
- RN Turnover by Tenure Distribution Groups
Of the 10 Tenure Distribution Groups by Years, the one group where Turnover has the highest impact on VBP Revenue and scores is in the “RN Tenure Turnover: 2-4 Years.” The only area where Low Turnover of this Tenure Distribution group is positive is in Quality of Outcomes. Whereas, High Turnover of this Tenure Distribution group negatively impacts 4 of the VBP Scores including: Overall VBP Revenue, Patient Satisfaction, Process of Care and Quality of Outcomes.
About HealthViZion Research Institute
HealthViZion Research Institute, a subsidiary of HealthViZion Inc., is the industry’s first Big Data company to research and define, scientific “pure data-driven” intelligence, solutions and best practices to successfully drive bottom-line increases in revenue and earnings through Value Based Purchasing (“VBP”). HealthViZion has built the largest Big Data repository of “standardized” and normalized U.S. hospital Value Based Purchasing scores, all VBP scoring domains, all sub scores by departments and DRGs as well as comprehensive workforce data. With its proprietary strategic workforce business impact and management platform, SonarViZion4, HealthViZion Research Institute uniquely and scientifically discovers the first specific workforce drivers, all measurable and manageable, which the top VBP reimbursement hospitals have in common.
