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A survey by the American Academy for Family Physicians reports that 49% of practices say they’re already participating in value-based care and 18% expect to be soon. Follow us on LinkedIn and never miss a post!
For example, in 1970 the annual cost of care was $353 per person, but today that number has jumped to $12,914. A recent report showed that one-third claimed that prior authorizations led to serious adverse events – including hospitalization, permanent impairment, or even death – for at least one of their patients. A new CMS rules target the electronic exchange of healthcare data to speed up processing times and create greater transparency. Proactively planning improvements with your technology that target these workflows is a good way to move into compliance faster. But payers can reduce this challenge by considering whether the technology they use is as efficient as it could be and if there’s an opportunity to save time and money.
Successfully navigating these and future challenges requires agility, according to a report published by McKinsey and Company. Research show that 81% of payers say they’re investigating in technology to improve the member experience. And keeping your employees happy is vital when 44% of employees admit they’re looking for a new job.
When you upgrade, you have more automation capabilities. Over time, these capabilities help reduce manual workloads, improve productivity and seriously reduce costs. With continued savings month after month, the ROI becomes very high. Faster workflows mean greater efficiency, which empowers employees to help customers more efficiently, improving their experiences.
Each year, JD Power conducts several studies into the satisfaction of Utility customers across America. This year, the reports note a significant increase in the number of customers wanting greater transparency and personalized attention from providers. The highest ranked companies have met these expectations, and we are honored to announce i3 Verticals as a top contender in multiple geographical locations, thanks to our revolutionary ePortal solution.
The number of physicians 60 or older climbed 48% between 2010 and 2020, while physicians under 50 grew by only 16% – hardly enough to replace those leaving to retire. Additionally, an estimated 100,000 nurses left the workforce over the past two years due to stress, burnout, and retirement, with another 610,388 intending to leave by 2027. The cost of practically everything his risen over the past few years, and while medical wages have increased, it’s often not by enough to keep pace with increased expenses. Research finds that 94% of employees report that they would stay at a company longer because of good benefits.