Value-Based Payment Systems and the Role of New Technology
Sustainability of Quality Improvement in Long-term Care
Value-based payment is now a reality in post-acute care settings, so what’s a skilled nursing operator to do? For years, we’ve partnered with care teams at hundreds of long-term care and senior living communities to help improve outcomes and reduce risk and liability. Yet, the industry still remains profoundly vulnerable in one area: sustainability of quality improvement.
The traditional model for quality improvement is throwing significant dollars and people at specific focus areas like falls or wounds. This usually works in the short run. Over time, however, outcomes revert to the mean as staff turnover takes its toll and investment fatigue sets in, leading most operators to lose the will to continue funding ROIs which may take years to harvest.
The solution clearly has not been EHRs, as the vast majority of our clients adopted them years ago and they’ve had no effect on slowing the steady march of professional liability loss rates – which is often the largest expense after payroll for most skilled nursing operators in the largest markets.
Technology, in the form of niche software solutions that specifically address operators’ most acute pain points (e.g. wound care) have proven to be a game-changer. Below is a link to a white paper that explains the fantastic outcomes that one such solution has delivered to many of our insureds. It has set them apart to prosper in this climate of value-based payment.
Access the White Paper:
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