What are some effective ways to manage patient care costs while maintaining quality?

This is always the drive towards excellence. Two factors in my mind have a great impact: 1- Value based care. 2- Integrated Practice Units. Both concepts gear the patient journey along listening to the patient and valuing their health and wellbeing rater than treating a symprom or disease.

It is one of the biggest challenges to bring in the balance between Quality care and Cost. The data capture and analysis will be the key to optimize the cost over a period of time. The effective utilisation of resources, infra and medical equipment depends on the planning and understanding of the territory, volume of business, expansions, tie ups and sharing of services. While we as business experts always strive to deliver the best, we lose the control on cost or we hold tight on the cost compromising quality. Quality comes with Cost is the fact to be imbibed by both providers and customers, thus making the systems effective. Few measures to optimise the cost is to cut the luxury and to eliminate the wastage from the system.

Maybe I am an old fashion clinician but it my 30 years of experience I have learned to treat the patient and not the disease. This translates into taking a good medical history and physical exam which will get you 9 of 10 times the correct diagnosis thus less ordering of tests. Basically less is better!

Most of the treatment algorithms are intended to optimise interventions both at the evaluative and therapeutic levels of patient care . Therefore sticking to scientific principles will ensure that the bare minimum spending is done while ensuring quality in patient care . Optimising personnel is another effective measure to reduce cost . Reducing hospital stay would be another .

It’s really challenging but possible by using some KPI ….. 1 Cost Containment measure 2 Patient centric Approach 3 Inventory Control 4 Regular cross check of market price 5 selecting right price policy implementation

- Identify costly areas in your operations. - Evaluate cost-effective evidence-based practices (EBPs) and select those that are feasible and aligned with patient and clinician preferences. - Develop a detailed implementation plan that outlines the resources required, staff training, and a monitoring process for tracking cost-saving effects. - Implement cost-effective EBPs and monitor their effectiveness regularly. - Share the results of cost savings with stakeholders to foster a culture of cost-consciousness and encourage the adoption of similar practices.

Our strategies Non-Negotiable Quality Standards : are prioritized and upheld Cost Reduction Strategies : We employ cost-reduction strategies, including bulk purchasing and negotiation skills, without compromising quality. Data-Driven Decision-Making We rely on healthcare data and analytics to inform cost management and quality improvement decisions. Standardized Protocols : We implement standardized care protocols to reduce variations in treatment while controlling costs. Streamlined Workflows : We optimize clinical workflows to eliminate redundancies and enhance efficiency while reducing costs. Preventive Care and Education : We focus on preventive care and patient education Resource Allocation : made efficient

Evidence based practices in health care are almost never proven. They are associations explaining little of the variance. They are easily biased in favor of the intervention by funding bias, researcher bias, journal bias in favor of positive findings, bandwagon topic bias, lack of controls especially for outcomes differences shaped by population, differences (the dominant shaping force), and lack of limitations across the implications of the lead in introduction to the conclusions - which should require pages for social science type research that is not double blinded randomized or any such top quality design. The findings can be significant, but minor and the costs of the intervention are not fully tallied. Relevance is generally lacking

As usual, I agree with you and amazed how ridge male physicians are at entertaining an alternative. Evidence based practice will never work for clinical practice because each individual must be prospectively assessed on a day that is moving forward in time and interacting with environmental and social factors that have a direct impact on outcome. For example, 80% of all strokes are ischemic. Thrombotic agents that breakup blockages is greater that 50% effective in thrombotic stroke and 100% contraindicate in hemorrhage stroke. The problem today is EPIC combined with MDs who cannot think anymore

In my experience , engaging with patients and families is a core fundamental for informed decision making while seeking treatment , it contributes them to implore package of care without compromising quality thereby not compromising ratings for health care establishments. It provides autonomy for the patients and family through guided plan of care

One way to manage patient care costs while maintaining quality is to implement evidence-based practices that have been proven to be cost-effective. Another approach is to focus on preventive care and early intervention, which can help reduce the need for expensive treatments and hospitalizations in the long run.

One thing I found helpful to reduce the cost and give quality care- 1- There should be one helpline from hospital to analysis of the risk of the patient 2- most of the patient are from elderly age who falls under high billing category due to multiple co morbidity 3- proper counseling of family and patient will ensure to reduce the cost and increase the quality of treatment 4- private hospitals should follow capped consumables as per government rules 5- engage newly passed consultants to reduce the cost

Engaging patients and daily/caregivers is necessary, but can also be challenging. More patients are informed today than they used to be. This can be a double-edged sword. Encourage and welcome questions from patients and caregivers. Aggregate the most frequent questions you receive and create a FAQ handout for patients with evidence-based links or reliable information patients/caregivers can read and refer to for more information. Educate any staff in more than just basic patient interaction skills. Be comfortable with hard questions. Patients deserve answers. Caregivers need answers so they have true understanding if their role as caregiver. Encourage patient engagement across more than just the obvious reason for treatment.

There are amazing results in building a public from the patient population and meeting them on a low friction online platform. It creates the opportunity to educate patients about their health, their condition, treatment options and preventive measures, ultimately fostering a sense of empowerment and informed decision-making. Such an approach aligns with the principles of patient-centered care and can lead to more proactive and engaged patients. By meeting patients on low-friction online platforms, healthcare providers can bridge information gaps and facilitate a stronger partnership between healthcare teams and patients, resulting in improved health outcomes and a more informed, involved patient population.

One way i've applied this professionally was through creating networking platforms where integrated care targets were met on low cost through sourcing care quality at varied established institutions as a result of lobbying. This resulted in quality care provided for patients as well as not compromising on enormous medical costs

A steadfast dedication to innovation and the integration of technology within healthcare potentially transforms the field and liberate healthcare workers from the shackles of repetitive and administrative tasks. By automating time-consuming responsibilities, healthcare professionals can redirect their focus towards providing more attentive care to their patients. Moreover, this commitment to innovation has a magnetic effect, attracting the most forward-thinking individuals to the healthcare workforce. This influx of innovative talent infuses fresh perspectives and enthusiasm into the industry, fostering a virtuous cycle that further accelerates the adoption of technology in healthcare.

With such collaboration, reduction of costs with standard quality of administrative services and healthcare services will be reached through many approaches: - Benefit from economies of scale. - Benchmarking for both administrative and healthcare services. - peer reviews with other providers to mitigate the effects of cost versus quality of services. - Base for future coalition and acquisition.

Collaboration with any provider is a real opportunity to achieve both better outcomes and costs. Coordinating care reduces redundancy and wasteful services, while also improving the services provided if you are able to direct care to others who look at patient care like you do. Using all qualified disciplines for development of a comprehensive and effective care plan also helps stretch limited resources and allows each provider to focus on those services they do best. Patient satisfaction is also a welcomed outcome. Win-win scenario!

Too lean is the case for most Americans most behind where there is half enough primary care workforce and other basics along with even fewer and lesser delivery team members. Deming is limited in application as the quality is about multiple matrices of relationships that are predominantly shaped by life influences over decades in ways that a few minutes of contact in a hospital or practice cannot easily change. The inside out perspective of delivery team members is ignored even as those who deliver the care have been moved to less support and more multitasking with declines in one on one interactions that are the heart of health care delivery as well as lower satisfaction, higher turnover, burnout, and worse. Toxic culture is too common

I have experienced success in utilizing an A3 report to help all stakeholders understand the performance improvement process. By visualizing the problem statement, root cause, data, and intervention in one place, team members who are less familiar with performance improvement better understand the concepts and how they can contribute more effectively.

One area where lean principles can be particularly impactful is in the operating room (OR). By integrating lean methodologies with advanced technologies like digital twins, healthcare managers can take waste elimination and process improvement to the next level. For example, a digital twin can provide real-time data to identify bottlenecks or inefficiencies in the OR, which can then be addressed using lean tools like value stream mapping or root cause analysis. This synergy between lean principles and emerging technologies can create a more efficient, cost-effective, and patient-centered healthcare system. It's not just about cutting costs; it's about optimizing resources to deliver the best possible patient care.

Supply chain Optimization: Optimizing supply chain can be a very effective way of cost reduction with immediate, to long-term impacts. Predictive analysis of needs and re-designing supply chain agreements accordingly is one good example that can combine waste elimination and cost reduction

Staff burnout and fatigue are real challenges that can impact both cost and quality of care. Technologies like digital twins can help in this aspect by reducing the cognitive load on surgical teams. As healthcare moves towards a more patient-centric model, involving patients in the decision-making process can also contribute to better outcomes and potentially lower costs. Technologies can facilitate this by providing patients with accessible information and platforms for communication. While lean principles and technologies provide the tools for optimization, the ultimate goal is a healthcare system that is efficient, cost-effective, and centered around both the providers and the patients.

Managing healthcare costs is often perceived as a zero-sum game. If you lower costs, then quality or service should lower as well. That is absolutely not the case! Look for win-win! A win by lowering costs and a win by increasing quality or increasing service to patients. I've interviewed more than 100 companies and organizations outside healthcare and written a book about my studies. Win-win is a very common succesfactor outside healthcare!