Five Financial Benefits of Rehabilitation Partnership

As financial strain continues to impact hospitals across the country, health leaders are seeking partnership  to increase financial stability amid an ever-changing healthcare landscape.

Partnership can help hospitals  effectively obtain additional resources to provide high-quality  patient care, strengthen service lines and improve access and  the overall patient experience.  

Proactively identifying growth and efficiency opportunities that  will treat the needs of patients brought on by or exacerbated  by the pandemic, while also bolstering the hospital’s bottom  line, is key to hospital success. Partnering with an experienced  post-acute provider benefits the care continuum and can have  substantial influence on hospital outcomes.

5 Benefits of Rehabilitation Partnership for  Overall Hospital Success 

With the help of an experienced partner, hospitals can enhance  their post-acute strategies in five key ways: 

1. Improved Performance Under Value-Based Care 

The shift to value-based care has pushed hospitals to  reduce spending while improving quality and outcomes.  In a study of value-based trends, it was found that more  than a third of national reimbursement contracts are now  value-based. This percentage has trended upward every  year since 2015.1 

A post-acute partnership strategy helps equip hospital  staff and leadership with the resources to increase care  quality and efficiency, make more timely transfers to post acute settings, reduce readmission risk and generate  long-term cost savings for the entire hospital. 

2. Increased Care Efficiency to Reduce Readmissions 

Rehospitalizations and other transfers in the post acute continuum can lead to poor patient satisfaction  and care quality, ultimately creating negative financial  consequences. Research shows that some of the lowest performing hospitals around the nation can experience  readmission penalties two to three times higher than  those performing at an average rate.

Through specialized expertise, access to national  resources and data, and a team with a focused ability to  recruit and retain top talent, a rehabilitation partner can  greatly expand a hospital’s ability to provide excellent  patient care in an efficient manner. Further, a rehabilitation  partner can help produce faster recovery times, reduce  care costs and can create a more positive overall patient  experience.  

3. Supports Medicare’s “Triple Aim”  

Successfully managing all aspects of a rehabilitation  unit has become more challenging due to the growing  complexity of patients treated, readmission risks and the  expansion of value-based care integration. However, if a  hospital is able to achieve an effective post-acute strategy  they can better manage the intricacies of the program.  

Rehabilitation partnership supports Medicare’s triple  aim, helping to: 

  • Enhance care. Provide exceptional care to individuals  through high-quality programs aimed at improving a  patient’s health and independence. 
  • Improve community health. Experienced partners have access to the latest national trends and resources beyond the data available to individual facilities. This allows local programs to be equipped with besti in-class treatment plans to effectively treat a wider variety of complex conditions.  
  • Lower care cost. Greater patient access, expertise and quality lead to better outcomes, lower length of  stay and lower readmissions. Additionally, facilities are able to more effectively deploy resources and  improve operational efficiency, further lowering costs.  

An effective partner will also have a well-organized system  for efficiently transitioning patients through phases of care.  This helps lower per-patient costs, improves regulatory  compliance and enables patients requiring specialized  care to receive high-quality care.  

4. Specialized Care for COVID-19 and Medically  Complex Patients 

Throughout the pandemic, specialty hospitals have  played an invaluable role in the public health response.  Research notes that 20 percent of patients recovering from  COVID-19 require facility-based rehabilitation.2 This value  was shown through the interdisciplinary rehabilitation  teams who helped patients recover from severe clinical  presentations of COVID-19. 

Hospitals that partnered with experts to operate their  inpatient rehabilitation program prior to the pandemic  were often better prepared to take on the fluctuations in  care, including patient volume, recruitment challenges,  advanced safety protocols and new therapies for  COVID-19 patients. 

5. Streamlined Patient Care Path 

As stated in the guide, “10 Steps to Optimize Your  Rehabilitation Unit,” research notes that rehabilitation  therapy services are expected to continue to grow  following COVID-19 through 2028. With this expected  growth, it is important to evaluate where patients are  going to receive rehabilitative care and where there is an  opportunity to keep patients within the system. 

Expanding post-acute services within the hospital’s care  continuum helps the hospital to have more control over  outcomes, reduce care transitions and help maintain  patient satisfaction throughout the care journey. 

How Partnership Can Help with Hospital  Financial Performance 

Partnering with a focused rehabilitation expert can ease  the burden of managing inpatient rehabilitation, increase  patient access, and help improve clinical quality and  operational efficiency – all of which will ultimately help the  hospital achieve greater financial performance. To learn how  partnership can help your hospital reach its strategic goals,  visit Kindredrehab.com. 

References

1 Gold, J.; Duvall, S. (2020, June). The Next Decade of Value-Based Care. Hany’s Managed Care. https://www.hanys.org/communications/publications/ healthcare_intelligence_reports/docs/2020-06_the_next_decade_of_value_based_care.pdf  

2 Fary Khan, MBBS, MD, FAFRM (RACP), Bhasker Amatya, DMedSci, MD, MPH, Medical Rehabilitation in Pandemics: Towards a New Perspective, Journal of Rehabilitation  Medicine, Vol. 52, Issue 4, April 9, 2020 

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