TAKING CONTROL OF YOUR OUTPATIENT COSTS
Olan Soremekun, MD, MBA - Vice President of Value-Based Programs at CareAllies
What physicians need to know to be in control of their outpatient costs and quality health outcomes.
Driving affordability is an ongoing challenge for providers managing a variety of costs within their practices. When discussing total medical cost with providers, most feel their greatest costs are related to inpatient care and pharmacy expenses. In actuality, the highest costs of care lie within outpatient care.
Surprised? You're not alone. The good news is that you also have the greatest opportunity to impact outpatient costs and quality health outcomes for your patients.
Driving change begins with basic principles of outpatient care that we're already familiar with. The opportunity to up your outpatient management game lies in thinking about the principles you're already familiar with in a different way. Here's how.
First and foremost, we must remember that physicians have influence and impact on improving outpatient care outcomes and costs. Use this mindset to think more holistically about how you run, staff and manage your practice.
Then consider how you can proactively impact these basic controllable drivers of outpatient care to improve outcomes and reduce cost:
- Complex Patient Care Coordination
- Utilization Management
- Operational Efficiencies
- Outcomes Measurement
It's important to identify what actionable information in each of these areas would lead to focused actions in your practice that would then lead to enhanced outcomes and greater affordability. To drive change, you need the right tools and insights to help guide your outpatient goals.
Finally, you'll lead, align and resource an engaged team that will focus on managing your outpatient population. This team may be solely within your practice, in partnership with other practices or community resources, and may also include dedicated resources from third party partnership.
At the end of the day, upping your outpatient management game starts with you. The concept is simple, though requires an ongoing commitment to truly drive change. By shifting your mindset on how you think about managing outpatient care for your patients, you're also taking a big step toward transforming your practice.
In April's webinar, 'Care Delivered', John Parente, MD, chief medical informatics officer of CareAllies, will be discussing innovative access strategies to improve care delivery. He'll offer insights on the importance of assessment in defining access strategies, foundational practice-based access strategies, and innovative access strategies beyond the practice walls. Register now to join the discussion on Thursday, April 26, 2018, at 1 p.m. Eastern Standard Time.
Valuable Insights is a complimentary virtual education series designed to help independent physicians navigate the challenges of today’s health care environment. Browse the full Valuable Insights schedule, and sign up to receive notifications about future events. Valuable Insights webinars will be hosted monthly, typically the fourth Thursday from 1-2 pm Eastern, in 2018. Attendance is free. Registration is required. Please note that schedule is subject to change.