Real-time Capacity Management Using Capacity More Efficiently May be the Fastest Way for Hospital’s to Generate Revenue
With hospitals facing the prospects of tighter payment standards, and with millions of newly insured seeking care, deeper staff cuts and service roll-backs are not a viable means for cost savings. This year, we will instead see more hospital managers embracing a trend long used by industry and commerce – Real-time Capacity
Management™ - to streamline flow, care for more patients and drive rapid revenue increases. The real-time enterprise concept is one whose time has come for healthcare systems. Moody’s predicts that hospitals which can’t generate enough efficiency to stay abreast of all the upcoming changes will be forced to make spending cuts and face mergers after 2014. It’s clear that hospital executives could use a solution that will address overcrowding, optimize operations and produce revenue immediately. Could the answer be as ‘simple’ as keeping better track of patients, employees and medical devices? With this engine of change, hospitals can place themselves ahead of the game. By becoming smarter – by using information in real-time – hospitals can increase patient throughput and revenue while maintaining high quality, preparing them for the standards of this new era of healthcare. In the decade ahead, the ability to better use existing resources will be critical. These next generation systems promise to deliver bottom line impact that may be greater and more immediate than the conversion to EMRS. The federal government set aside $19 billion for hospitals to adopt electronic medical records. While it’s encouraging to see the clinical side of healthcare becoming more digitized to pursue its mission, what will it do for the bottom line? How will EMRS help hospitals with their pledge to trim $155 billion in waste under the current reform law? Most healthcare executives say it won’t help and that technology incentives should go beyond EMRS to include operational and system efficiency needs. There’s hard proof that an operational platform which drives out waste and sustains operational efficiencies can increase your margin. Real-time Capacity Management™ gives you tighter control, which goes right to the bottom line. Because, without margin there is no mission.
The real-time enterprise concept is one whose time has come for healthcare systems.