The Financial Benefit of Better Patient Engagement
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Healthcare has experienced a tremendous metamorphosis in the last decade -- including the implementation and dismantling of the Affordable Care Act, advancements in technology, and ongoing shifts in payment models. But one thing has remained a constant: Healthcare costs continue to rise. According to the National Health Expenditure Account (NHEA), healthcare costs in the U.S. grew 4.3% in 2016, reaching $3.3 trillion or $10,348 per person. With no relief in sight, every healthcare provider feels the pressure to reduce costs while maintaining an acceptable level of care. Positive outcomes lead to positive cash flow. However, healthcare providers need to tackle four driving factors before improved outcomes are possible: Patient Satisfaction, Patient Recruitment, Disease Prevention and Avoidable Readmissions. In order to successfully keep costs down without sacrificing quality of care, healthcare providers need to develop a patient engagement strategy that addresses all four.