When you look at all of the reforms and technological advancements that have been made to curb the $750 Billion waste problem, you see that providers are left at an increased risk of revenue losses
Atlanta, GA (PRWEB) February 19, 2013
In their recently published whitepaper Stopping Healthcare Waste at Its Source—Why it’s time for a provider-focused waste solution Jvion examines the waste portion of healthcare fraud, waste, and abuse from the provider side of the equation. “When you look at all of the reforms and technological advancements that have been made to curb the $750 Billion waste problem, you see that providers are left at an increased risk of revenue losses,” explained Surya Vadlamani, coauthor and Jvion CIO. “The very things that have been or are going to be put in place to reduce waste and improve patient care actually force providers to incur additional costs and put their revenues at risk.”
The U.S. government and commercial payors have reacted to the waste problem by investing in prevention systems and passing reforms designed to reduce waste and improve patient care. Mandated technology changes including ICD-10 and the push toward electronic health records promise to increase visibility into possible waste and help target prevention efforts. And the adoption of emerging technologies including Big Data solutions by payors will extend current detection algorithms.
Within the paper, the authors assess the impact that government and payor reactions to waste will have on hospitals. “While the overarching aim of these efforts is to reduce administrative burden and waste within the healthcare system, the near-term impacts actually increase the cost of running a hospital and lower overall revenues. A new trend is emerging in the wake of this impact; one that focuses on addressing waste at the provider level while helping hospitals protect their revenues from the onslaught of mandated change and increased scrutiny.”
Surya went on to say that “the only way to stop revenue losses and operational impacts at the hospital level is to address the source of waste. To do that, providers need a solution that starts by leveraging advanced data technology capabilities that incorporate heuristics and Big Data.” He continued,“This kind of capability goes beyond currently available solutions to account for provider operations. It integrates data from clinical, operational, and financial systems and provides faster, clinically relevant analytics that drive insights into systemic inefficiencies. These outputs can then be transformed into actionable inputs that improve the quality of care and reduce unnecessary costs.”
To download a copy of Stopping Healthcare Waste at Its Source click here or visit http://www.jvion.com/downloadsandnews.html. And stop by Jvion's booth at HIMSS13 #4473.
Jvion is a healthcare technology company addressing the financial and operational impacts resulting from mandated reforms and compliance activities. We offer a suite of solutions to reduce the financial impact and burden of the ICD-10 conversion, and help providers protect their revenues from increased financial waste associated with mandated changes and increased payor scrutiny. Please visit Jvion’s website at http://www.jvion.com for more information.