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MX.com Brief - Healthcare News | March 22, 2012
Industry Spotlight: Chronic Conditions = High Readmission Rates
Welcome to The Brief, the MX.com newsletter to keep healthcare leaders and innovators informed on industry trends, MX.com and Solution and Seller developments.
In this issue:
- Industry Spotlight: Chronic Conditions = High Readmission Rates
- Around the MX.com Roundtable
- Upcoming MX.com Webinars
- This Week's Poll: The Effects of Generic Drugs on Healthcare Costs
- MX.com - No Membership Fees...Ever
The Agency for Healthcare Research and Quality (AHRQ) announced earlier this month that hospital readmission rates for chronic conditions are substantially higher than readmission rates for acute conditions.
AHRQ's statistical brief, focused on 2008 data from the Healthcare Cost and Utilization Project (HCUP). The brief outlines how patients with conditions such as diabetes and congestive heart failure are being readmitted to the hospital more often than patients suffering from acute conditions, such as heart attacks or pneumonia.
With the new legislation from the 2010 Patient Protection and Affordable Care Act going into effect in October 2012, this is distressing news. To encourage better quality of care and to incentivize medical professionals to improve their performance, the government will begin to penalize hospitals with high readmission rates, leaving hospitals who have high readmission rates due to chronic conditions, such as diabetes in a tough spot...more
The following articles are currently featured on our and our partners' sites:
Partnership for Patients: Will It Help to Save Lives?
Last April, U.S. government officials announced a new public-private health initiative that -- unlike most aspects of the Affordable Care Act -- has met with near universal support: The Partnership for Patients. The measure is intended to shrink hospital errors by 40 percent and reduce hospital readmissions by 20 percent within three years. This translates into saving more than 60,000 lives and up to
Collateral Effects: Reducing Readmissions
Starting later this year, the Medicare program will begin to financially penalize hospitals whose patients are readmitted within 30 days of their discharge. Physicians -- and hospitalists in particular -- will be impacted. And patients themselves will often have to pay more out of pocket as a result. This could not only dramatically change the doctor-patient relationship in the hospital setting...more.
Become a Roundtable Contributor. We are always looking to expand our editorial panel and submittal group. To become a Roundtable Contributor and motivate conversation between hospital executives, please contact our eNewsletter Editor, Editor@MX.com.
Reducing Readmissions Webinar
Readmissions cost health systems an estimated $17 billion per year in unnecessary expenses according to the Centers for Medicare & Medicaid Services. With regulation and compliance deadlines fast approaching, understanding and implementing best practices for reducing readmissions and inpatient length of stay at your hospital is now essential.
Attend our featured Reducing Readmissions in Patients with Diabetes Webinar to learn about the tremendous impact glycemic related problems can have on a hospital and readmission rates.
The webinar focuses on Adventist Health System's glycemic management program and how implementing a similar process can help your hospital:
- Reduce Readmissions
- Improve Glycemic Control
- Reduce Inpatient Length of Stay
Save the Date
Join us as we discuss the impact readmission rates and diabetes is having on the healthcare industry in our complimentary Reducing Readmissions in Patients with Diabetes Webinar. Hosted by Adventist Health System's Paul Garrett, MD, Senior Medical Director for Evidence Based Practice and MX.com's Akram Boutros, MD, FACHE, the webinar will highlight how you too can avoid penalties, reduce readmissions, and positively impact your community with this glycemic management program.
Date: Tuesday, April 3rd
Time: 2:30pm Eastern
Duration: 45 minutes
Presenter: Adventist Health System's Paul Garrett, MD, Senior Medical Director for Evidence Based Practice and MX.com's Akram Boutros, MD, FACHE
Registration is limited. Sign up now for what promises to be an informative and engaging discussion on the importance of glycemic management in hospital care today.
High-Cost Drugs Webinar:
Date: Tuesday, March 27th
Time: 2:30pm Eastern
Duration: 45 Minutes
Presenter: MX.com's Akram Boutros, MD, FACHE
To register for this and other webinars, click here
Special Note: MX.com Webinars are open to providers and health systems. In order to register for this meeting, you must be a hospital, physician/provider or health system employee. We are not able to accommodate vendors or consultants at this time.
How Much are Readmissions Costing You?
Studies have shown that readmissions are one of the biggest avoidable costs for a hospital. Each year, millions of patients leave the hospital only to return within weeks or months. Hospital readmissions alone cost the federal government an estimated $17 billion in 2009. Last year, the U.S. Department of Health and Human Services announced the launch of a new program, Partnership for Patients, aimed at lowering preventable injuries and complications in patient care. The Partnership set a goal to reduce hospital readmissions by 20% and preventable hospital-acquired conditions by 40% by 2013.
Does your hospital have a set initiative to reduce readmissions?
Yes, we do have a set initiative to reduce readmissions.
No, we are not considering it at this time.
Not yet, but we are planning on it.
New Brief Feature: MX Community Poll
One of our MX.com Brief readers, A COO at a U.S. hospital, wants to know:
What's your hospital's biggest barrier to continuous improvement?
Fostering Collaboration between Stakeholders
Prioritizing which Process or Program to Improve
Lack of Process Management Tools
Do you have a question you'd like to ask our audience? Email your question and answer options to Polls@MX.com now.
Previous Poll Results:
And the Consensus Is...
The Effects of Generic Drugs on Healthcare Costs
The U.S. Government Accountability Office released a report earlier this month on the effect that generic drugs have on healthcare costs. According to the report, prescription drug spending more than tripled from 2001 and topped $307 billion in 2010, making up 12% of all healthcare spending in the United States. The report found that generic drugs were substituted for brand-name drugs 93% of the time in 2010.
Does your hospital or health system and its affiliated physician practices and clinics have a program in place to increase the utilization of generic medications?
Chairman Post: Analysis of Last Week's Poll
The response to this week's poll was the highest yet. The largest majority of our respondents report that they are not at financial risk for medications.
What does this mean? Click to see last week's poll results and read our Chairman, Joseph Davis's thoughts on recent poll trends in our Chairman Post.
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