Managing Anesthesia Costs
More hospitals are struggling with the rising costs of anesthesia services and the subsidies required to fund the service. One of the biggest net revenue threats facing hospital-based anesthesia services is the growing impact of high deductible / coinsurance plans. Due to the rising premium cost of health insurance plans, subscribers are migrating from more traditional insurance plans to less-costly high deductible / copayment plans.
High deductible copayment insurance plans shift more of the cost of the anesthesia service to the patient. Recent revenue cycle studies have reported that the collection percentage rate for high deductible / copayment patient balances are comparable to the collection percentage rates for uninsured patients. This disturbing collections trend will have a dramatic impact on the subsidies hospitals will pay for anesthesia services.
Does your anesthesia provider group have solutions to remediate cost challenges or will the additional costs be passed through to the hospital?
Here's three ways your anesthesia group can help to thwart unnecessary cost inflation.
One of the most common unnecessary costs that we find is over-staffing. Premier Anesthesia monitors daily staffing trends with our evidence-based staffing technology, managing provider staffing needs as they ebb and flow. Staffing trends are ever-evolving, so they must be monitored and changed on a regular basis.
Build an Annual Anesthesia Business Plan
Create alignment with your anesthesia provider group by collaborating to draft an Anesthesia Business Plan that clearly defines how the anesthesia service will compliment the hospital's current goals. Meet regularly to review the progress of that business plan.
Choose a Partner that Encourages Growth
One of the biggest pain points for unsatisfied hospitals is being partnered with an anesthesia provider group that is inflexible to the evolving needs of the hospital. With so many choices, ensure that you are with an anesthesia provider group that has the resources and culture to help to grow your surgical services.
To overcome cost challenges, ensure that your anesthesia group is an adaptable, informed and strategic partner to the hospital.