Healthcare Services That Can Actually Be Cost-Effective

Sunday, December 20, 2020, 6:00 AM | Leave Comment

There are numerous health policy researches. These studies are aiming to improve the cost-effectiveness of healthcare services without compromising care.

More studies are examining treatments, drugs, technologies, and programs in terms of cost-effectiveness.

Also, they are looking at alternatives that present an excellent and efficient way.

However, multiple cost-effective healthcare services can be implemented.

Some of these healthcare services include:

Healthcare Services That Can Actually Be Cost-Effective

  1. Integrating Family Caregivers into a Healthcare Team

    Many family caregivers provide significant health support services to patients with illnesses. Unfortunately, healthcare services are overlooked by the United States’ health care systems.

    Some fundamental changes should be conducted on how to identify, assess, and support these family caregivers. However, there is a high chance of integrating these family caregivers into the health care teams in the current health care systems.

    These family caregivers can directly access patients in need of caregiving. The interactions enable them to monitor your health changes regularly than formal health care providers. If included in healthcare collaboration, it would help improve patients’ services and meet their needs cost-effectively.

  2. Implementing Medication Tracking Software

    The other outstanding way to save the cost of healthcare services is by adapting different medication tracking software. The software serves two significant roles – provide drug inventory management and facilitate pill intake control. Other healthcare software, such as patient messaging software, can be significant assets in healthcare organizations and individual patients.

    If this software is integrated into healthcare organizations, they leverage medication inventory management. That helps to reduce medication wastes and operation costs.

  3. Expanding Specialists Care for Chronic Kidney Disease

    Many people worldwide are experiencing kidney failure. The healthcare systems can help save the cost of healthcare services; patients should be provided with specialized medical care before needing dialysis treatment. Studies have reported that if the idea is implemented, it could help save the health care system a lot of money annually.

    Over 60% of the saving will be realized when patients avoid kidney dialysis initiation and the rest from improvements of care. Several newer payment models could be implemented in health care to help spur nephrology care to patients experiencing advanced kidney disease at an early stage.

    The Healthcare system can help save on the cost; there is a need for expanding chronic condition special care needs that will cover patients with advanced chronic kidney disease. The plans will be paid per patient basis, which helps create financial intensives to reduce costs and improve outcomes.

  4. Taking Care for Complex Patients

    If you’re a complex patient experiencing high-risk outcome and multiple commodities – you’re likely to spend high costs on your health care. These care conditions face numerous challenges, such as understanding how to reduce expenditure and integration of care coordination programs.

    However, when there is an improvement in care coordination and management, it could help reduce costs and improve quality care.

  5. Shifting Outpatient Care Services into the Community

    Shifting outpatient care into the community can help save the cost. It means that the traditional care provided by hospitals be moved into primary care. The reason is that these services are better provided in the community.

    The critical question from such plans has emerged: will you experience the benefits when the hospital services you get are shifted to the community? Some studies evaluated the efficiency of outpatients’ services.

    The studies reported that when outpatient services are shifted to the community, you will receive efficient services at a lower cost.

  6. Integrating Referencing Pricing and Price Transparency Tools

    The effort that allows you to get price transparency tools has already been achieved through limited success. The significant reason is the absence of financial incentives. When a price transparency platform is implemented alone for laboratory and diagnostic tests, there won’t be price shopping effects.

    If referencing pricing and price transparency are combined, you will experience significant shifts. Also, there would be an advantage because you will experience a reduction in healthcare prices.

    It is, therefore, recommended to adopt the use of price transparency tools. The tools can capture the attention of users and influence their behavior. It happens when patients have strong financial incentives and care about prices.

The Bottom Line

There are different ways healthcare systems can promote high-quality healthcare services at cost-effective. However, the term cost-effective will not mean never spending your money to diagnose, treat, or manage your illness. It is upon the healthcare providers to be smart on decisions they make on investment resources.

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