Contact-free continuous monitoring (CFCM) holds a significant amount of untapped potential for post-acute care centers and skilled nursing facilities: In a new white paper, research firm Frost & Sullivan calculates that the average U.S. post-acute care facility “could expect to see revenue increase by 22% and its net profit margin grow by 12.8%” by leveraging the technology to treat high-acuity patients.
Hospital referrals are essential to the post-acute business model, and becoming more so. As the industry continues to evolve towards value-based care and bundled payments, hospitals “are being pushed to assume greater risk for care episodes [that] can extend well beyond the acute care discharge” and onto their post-acute care partners, as H&HN Magazine points out.
The post-acute care market is more competitive than ever, with more and more facilities finding themselves pressed to not only increase their level and quality of patient care, but also their operational efficiencies and relationships with referring hospitals.
How Contact-Free Continuous Monitoring Can Help Post-Acute & Skilled Nursing Facilities Reduce Alarm Fatigue and Improve the Nursing Work Environment
For post-acute care and skilled nursing facilities looking to stay competitive in an industry with an ever-growing number of players and increasingly razor-thin margins, the implementation of contact-free continuous monitoring (CFCM) can be a key differentiator for ensuring long-term success.
Using an evidence-based model of healthcare delivery, the authors of a recent white paper argue that the typical American post-acute facility could experience double-digit increases in revenue and net profit growth by implementing contact-free continuous monitoring (CFCM) in just a portion of its beds.
Though predictions as to its severity fluctuate, America’s nursing shortage remains an ongoing concern for many healthcare facilities - and particularly among post-acute care centers and skilled nursing facilities, where market competition is intense and labor costs more acutely felt.
If you manage a post-acute center or a skilled nursing facility, you know only too well that a high rate of hospital readmissions means lost revenue, for a number of reasons:
In addition to documented success improving patient care and outcomes, the financial advantages of implementing contact-free continuous monitoring (CFCM) are numerous.