The type of Continuous Improvement client has been changing recently. While we still have clients using the solution to identify cost reduction opportunities as a way to achieve a larger savings target, many clients are not starting at ground zero. Now that the need to be fiscally conscious has settled into the healthcare industry over the last few years, a lot of clients are deep into their cost reduction programs by the time Continuous Improvement is implemented. This means automated initiative tracking and centralized project management is priority # 1, identification of new variation-based savings opportunities is priority #2.
Reducing Harm and Only Taking Half the Credit: How to Account for Cost Savings for Improved Quality
Almost every hospital has a team of skilled, qualified and effective clinical quality professionals committed to reducing harm to improve overall quality for their patients. To ensure that care is always within industry and regulatory standards, these professionals own and closely monitor an important set of metrics. When metrics get outside of established limits—or certain harm events occur—these professionals step into action. Teams thoroughly review patient data, current processes, and anything that can help them to find root causes and put improvement plans into place. When they are successful at reducing harm and improving quality events, these teams are championed. The problem? This is only half of the story.
Improving quality is incredibly important, but it is only half of the story that should be told when it comes to successful initiatives meant to reduce harm. What about cost? Cost is often left out of the success narrative because there has been no good, reliable and valid way to calculate the associated costs to harm events – until now.
Join this webinar to hear experts from Strata Decision Technology share how we have helped over 31 healthcare organizations see cost savings—in real dollars—associated with reducing harm events.