Industry Note:
Tout Your Programs That Reduce Hospitalization Costs
Published on Fri Mar 16, 2012
If you aren't building a program showing insurers that your services can save money through reduced hospitalizations and ER visits, you're probably behind your competitors. For example: Hospice of Michigan in De-troit is winning contracts with Blue Care Network, United Healthcare and Priority Health insurance plans thanks to its @HOMe Support Pro-gram, reports Crain's Detroit Business. A new study funded by the Blue Cross Blue Shield of Michigan Foundation and conducted in collaboration with Wayne State University found the HOM program cut spending up to 36 percent -- about $3,400 -- per month per patient, according to a release. The savings came mostly from reduced inpatient, outpatient, and ER visits, HOM notes in the release. The program "is a unique delivery model that is neither home care nor hospice, but a home-based delivery model with an advanced illness management focus," the hospice explains. "Services are provided by an interdisciplinary team of registered [...]