3 ways hospitals can use data to increase revenue, patient loyalty

The American Hospital Association predicts non-federal hospitals will lose more than $323 billion in 2020 due to pandemic-induced revenue losses. Many hospitals are beginning to recover, but still struggle to bring back patients who are wary of returning to healthcare facilities amid the pandemic.

During a Oct. 5 webinar hosted by Becker's Hospital Review and sponsored by Geneia, two industry leaders discussed data-based strategies for hospitals to effectively reestablish continuous care among their patients.

The speakers were:

  • Heather Lavoie, president and CEO of Geneia

  • Bruce White, CEO of Knox Community Hospital in Mount Vernon, Ohio

The speakers discussed three ways hospitals can leverage data and technology to increase their revenues and patient loyalty.

  1. Leverage existing data to understand and measure key cost and quality factors. Ms. Lavoie pointed out that data sources such as EHRs, lab records and administrative reports can show hospital leaders insights, such as which patients are at the greatest risk, which ones are overdue for preventive screenings or have missed prescription refills. This can help hospitals engage patients and bring them in to manage their chronic conditions, get preventative screenings or establish a relationship with a primary care physician.

  2. Determine which patients need to be prioritized to increase revenue, care quality and patient loyalty. It's important hospital leaders look beyond EHR data and explore other sources, such as billing or claims data, to discover how they can schedule resources in a more targeted, personalized way. Mr. White pointed out how this could help staff at hospitals like his reach out to patients who need their chronic conditions managed, especially as many remain anxious about returning to hospitals for care amid the pandemic, to address their concerns and establish a continuity of care.

  3. Utilize existing technology to take action on findings. Publishing gaps in care into the clinical workflow can help clinicians take actions before and during patient visits. If hospitals push that data out to payers, it can help eliminate some chart audits. Ms. Lavoie said now is the time for hospitals to use the technology systems they have to communicate to patients that it's safe and necessary to return to care.

To learn more about Geneia, click here.

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