Unfortunately, the healthcare industry faces challenges with financial waste. It has been estimated that the healthcare system in the United States wastes approximately $765 billion annually, about 25 percent of what is spent. Part of this number is due to payment integrity issues such as fraud, waste and abuse (FWA). If you’re not familiar with […]
As we mentioned in a recent blog, healthcare in the United States is very costly and continues to grow. National spending is about $3.3 trillion, a number that is projected to grow an average of 5.5 percent per year through 2026. Americans are estimated to spend more than $400,000 on healthcare in their lifetime. Unfortunately, […]
Human error is inevitable, especially when there are so many people and processes involved in a business. Administrative errors tend to be more apparent in the healthcare industry though, due to the risk of human lives at stake. Take a look at these statistics: Approximately 86 percent of mistakes made in the healthcare industry are […]
About one-quarter of physician referrals in the United States go to specialists who are out-of-network, which can be very costly for health systems and medical providers. This ‘referral leakage’ occurs when patients seek out or are referred to an out-of-network physician by a healthcare provider. Although referral leakage can’t be avoided at all times, the […]
Each season brings new changes and modifications to the healthcare industry. With summer here, we’ve highlighted important issues, healthcare coverage changes and advances in medical research. Cybersecurity Still Troubles the Industry The healthcare industry continues to be plagued by cybersecurity issues. A newly published 2019 Data Breach Investigations Report from Verizon found that of the […]
There’s no way around it–healthcare in the United States is expensive. This country spends about twice as much per person compared to other developed nations. One key way healthcare organizations are addressing these issues is factoring in social determinants of health (SDOH). The World Health Organization defines SDOH as “the conditions in which people are […]
Approximately 2.1 billion tons of waste are produced annually, with the United States generating over 250 million tons of waste each year. Plastic waste generation is increasing in this country, and food waste is estimated to be between 30 to 40 percent of the food supply. In the effort to “reduce, reuse, and recycle”, the […]
Mental health is one of those topics that may seem taboo, even though it’s prevalent in our society. Bringing attention to it can reduce the stigma and perhaps enable more people to seek treatment when they need it. In the United States, nearly half of adults will experience a mental illness during their lives, and […]
The future of telehealth continues to build interest due to its convenience and cost-effectiveness. Not only does it increase access to care and reduce travel time—especially for people living in rural areas—but telehealth also decreases the number of hospital stays and can improve communication between clinicians. According to the American Hospital Association (AHA), 76 percent […]
A new season has arrived, and it brings new changes within the healthcare industry. To help keep you informed about these issues and how they may affect you, we’ve compiled the most important industry news. FDA Commissioner Resigns Dr. Scott Gottlieb, the 23rd commissioner of the United States Food and Drug Administration, recently resigned after […]