Costs capture provider mindsets


Costs capture provider mindsets across care delivery spectrumPhoto used with permission from Shuttershock.com

Current results to an annual, nationwide Provista survey attribute the most purchasing power in the healthcare industry at this moment to those who pursue cost reduction methods, highlighting once more the ongoing compulsion to budget buff across care realms.

Analysts consulted the thoughtful responses of some 359 administrators versed in different specified medical delivery models, from ambulatory surgical centers (ASCs) and cancer centers to home health agencies and physician practices. What they stumbled upon was a trend to trim across specialties, with nearly 70 percent of all respondents admitting to actively reducing costs in some way as a response to healthcare reform.

"Building on last year's survey, we wanted to determine if there were any significant shifts in the attitudes and opinions of our customer base," said Rosario Jacinto, Provista's market intelligence manager, in a news release. "This year, we expanded the scope to include cancer centers, physician practices and home health agencies to provide a broader snapshot of the current challenges our customers are facing so that we can better [address] their needs with best pricing and innovative solutions."

While all factions were adamant that adaptation via reduction was a route worth pursuit, some organization types were more confident than others — ASCs and cancer centers held firm in their projected ability to change with the times and the ticket prices, whereas home health agencies and physician practices were not so sure. Moreover, although all respondents pegged declining reimbursement as their paramount problem, the steps being taken to combat the issue varied significantly.

Find below the pathways to prosperity from the vantage of each responding delivery model:

Physician Practices

All information courtesy of Provista. Presentation by PhysBizTech.

Other key aspects:

  • Key areas identified for purchasing over the next 12 months include computer and/or software (58 percent), malpractice insurance (30 percent) and furniture (28 percent). In the next 12 months, physician practices plan to make limited investments in exam tables (16 percent), telehealth monitoring equipment (10 percent) or lab equipment (10 percent).
  • Forty percent noted that they were somewhat confident in their ability to adapt to a new healthcare landscape.

Ambulatory Surgical Centers

All information courtesy of Provista. Presentation by PhysBizTech.

Other key aspects:

  • Declining reimbursement rates (72 percent), operating costs (66 percent) and increased regulations (38 percent) were cited as primary considerations when making business decisions in an ASC.
  • Forty-five percent of ASC respondents expect their capital equipment purchases to remain the same and 73 percent report physician preference purchases will stay the same.
  • Major purchases by ASCs over the next 12-months include operating room equipment (49 percent), computers and software (37 percent) and monitoring equipment (23 percent).  In the next 12-months surgery centers plan to make limited investments in monitoring equipment (23 percent), diagnostic imaging (8 percent) and lab equipment (7 percent).

Cancer Centers

All information courtesy of Provista. Presentation by PhysBizTech.

Other key aspects:

  • Declining reimbursement rates (88 percent), drug costs (60 percent) and general operating costs (42 percent) cited as key challenges.
  • Within the sector, major purchases over the next 12 months include computers and/or software (50 percent), furniture (35 percent) and exam tables (25 percent). In contrast, they intend to spend less on diagnostic imaging (13 percent), radiation therapy systems (10 percent) and lab equipment and infusion pumps (12 percent).

Home Health Agencies

All information courtesy of Provista. Presentation by PhysBizTech.

Other key aspects:

  • The majority of HHAs cited declining reimbursement rates (79 percent) and operating costs (60 percent) as key challenges.
  • Sixty-one percent said their future home health purchases include computer and/or software, and 25 percent said telehealth monitoring systems.

 

Find more on the survey here.

Photo used with permission from Shuttershock.com.