According to a report recently released by Kaufman Hall and covered by FierceHealthcare, hospitals and health systems saw a fourth straight month of negative operating margins, due to the recent omicron Covid-19 surge placing additional strain on many. The Flash Report, which offers details on hospital revenue and margins, found declines in patient volumes and lower gross operating revenue.
Add in the current economy, and the first four months of 2022 are taking a major toll on hospitals and systems overall, the report stated. “Labor shortages, high prices for supplies, and cost increases to treat sicker patients over longer stays are ballooning hospital expenses,” said Erik Swanson, senior vice president of data and analytics for Kaufman Hall.
The consumerization of care
Of course, layered on to the revenue challenges many hospitals face is the threat of direct-to-consumer healthcare options—which ties to declines in patient volumes found in the report. As consumer preferences continue to shift towards more on-demand, personalized care options, health systems need to both keep and attract low-acuity patients to stay competitive.
Asynchronous telehealth solutions like Bright.md have been proven to drive patient volumes and provide value for organizations by making it easy for low-acuity patients to find, access, and receive virtual care. Our solution uses digital access points to personalize this process, while clinicians also gain a more streamlined experience with the help of various EHR integrations.
Providers treat patients from the platform asynchronously, or they can triage them to the right level of care, whether that be video or in-person. In turn, the care delivery experience for patients and providers through Bright.md is a happy, satisfactory one.
And, not to mention—Bright.md’s asynchronous telehealth platform keeps patients within your health system, driving revenue and retention. In a recent Bright.md webinar, panelists reviewed how 23% of Bright.md patient users surveyed said they would have found care outside of their health system if they didn’t have access to Bright.md.
How health systems can combat D2C healthcare threats
In a market where direct-to-consumer healthcare options are making viable strides towards capturing low-acuity patients, health systems can’t afford not to act. Bright.md helps health systems create an engaging, patient-centered hybrid care model while preserving provider energy and generating revenue. And, our platform makes it easy for low-acuity patients to receive quick, quality care through your health system, without needing to leave it.
“Today there are so many threats out there, and I think that’s why asynchronous care is gaining traction,” said Dr. Brett Oliver, CMIO at Bright.md customer Baptist Health. “The reality is that many direct-to-consumer options don’t want our complex, multi-problem patients. They want the low-hanging fruit – these common conditions asynchronous care treats so effectively and efficiently, that then lead to downstream revenue. And what I often tell other healthcare executives is that you have to be careful with letting these competitors have that low-hanging fruit.”
Want to learn more about Bright.md’s approach to revenue generation and providing value? Check out our latest eBook, focusing on reclaiming volume and driving top-line revenue in a stressed healthcare environment.
Revenue, value, and the future of telehealth
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