In healthcare, the only thing that spreads nausea quicker than the flu is bureaucracy. This bureaucracy causes care of delivery costs to rise, while diminishing the physician’s ability to leverage new technology and processes to increase patient satisfaction.
If you work in healthcare, you no doubt have heard enough statistics that have highlighted the mismanagement of the industry. Here are 5 more that might make you downright sick!
- It costs nearly $250 billionto process 30 billion healthcare transactions each year
Though most industries have embraced technology in order to speed things up and make operations more efficient, the healthcare industry is still using antiquated communication technologies such as fax, legacy EMR systems and HL7 interfaces. Talk about costly and time-consuming!
- Referral leakage for a health system can average anywhere from 55-65%.
Let’s break that math down a little bit more, shall we?
If, on average, 55 – 65% of revenue is lost from leakage, that means a hospital could lose between $821K to $971K per doctor per year. For a hospital that employs 100 affiliated providers, those numbers skyrocket to between $78M to $97M per year.
Do you need to lie down?
- The average ratio of staff handling paperwork to doctors handling paperwork can be as high as 23 FTE.
Have you tried but failed to reach staffing “utopia?” You’re not alone. Many physicians struggle to find just the right number of staff to work in just the right jobs at just the right time. A common mistake providers make is oversimplifying how they go about dealing with workload. Many add temporary staff when work falls behind and then cut staff when expenses grow too high. It becomes a vicious cycle.
- 86% of mistakes made in the healthcare industry are administrative.
Heart disease and cancer are the leading causes of death in the U.S. Know what comes right after? Preventable medical errors claim the lives of 400,000 people each year.
- 3 of every 10 tests are reordered because the results cannot be found.
Much of the increasing costs of care could be eliminated if test results and labs did not become mysteriously lost somewhere in the care continuum. Transfer from lab to PCP or specialist, or the transfer within hospital departments typically leads to redundant tests and missed diagnoses and treatments.
This tends to result in redundant tests, which directly leads to the increasing cost of care; but more importantly, can lead to missed diagnoses and treatments, resulting in further injury or even death.
There are plenty more healthcare statistics that could send chills down your spine and cause your bones to ache, but you’ve got patients to see.
© MedPro Waste Disposal, LLC, 2020. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to the author and MedPro Waste Disposal, LLC with appropriate and specific direction to the original content.