OVERLAND PARK, Kan.--(BUSINESS WIRE)--Oct 10, 2024--
WellSky, a leading health and community care technology company, today released its third Evolution of Care report. The 2024 report, based on data from WellSky’s network of over 2,500 hospitals, accountable care organizations (ACOs), and physician practices, along with 130,000 providers across the United States, delves into the transformations in care delivery over the last year, highlighting the significant impact they have on patients and providers.
WellSky’s analysis found that:
As referral volume continues to climb, hospitals are increasingly struggling to secure timely post-acute care options for their patients. According to data from WellSky, demand for post-acute care remains high, with skilled nursing facility (SNF) and home health referrals increasing by 3% and 6%, respectively, in the past year. Despite some improvements, SNF referral acceptance rates are still below pre-pandemic levels, while home health acceptance rates remain significantly lower, at just 34.5% as of October 2023, making it increasingly difficult for acute providers to secure timely care for their patients.
The average length of hospital stay before discharge is slowly decreasing but remains higher than in 2019. While hospital average length of stay (ALOS) before discharge to post-acute care has decreased in the past year, it remains higher than in 2019. For patients discharged to SNFs, hospital ALOS increased 12% (2023 vs. 2019). For patients discharged to home health, hospital ALOS increased by 7% over the same period. Higher ALOS can lead to higher costs, reduced patient satisfaction, and delays in necessary care post-discharge.
In addition to revealing data insights, the report analyzes key trends shaping the healthcare industry, including:
Generative AI and predictive analytics are enhancing caregiving. The evolution of generative AI is set to transform care transition and coordination software in healthcare by streamlining administrative tasks and improving data-driven decision-making. AI and predictive analytics enable providers to focus more on direct patient care, leading to more efficient healthcare delivery. By optimizing resources, forecasting trends, and identifying at-risk patients for early intervention, AI can enhance patient engagement, team coordination, and cost efficiency.
"As referral volumes surge and staffing shortages persist, providers are under immense pressure to secure timely and appropriate post-acute care for their patients,” said WellSky CEO Bill Miller. “Advanced technology and AI-driven solutions from WellSky will help providers navigate these challenges, streamline care coordination, and ultimately deliver better patient outcomes in a rapidly changing healthcare landscape."
Regulatory shifts are changing the healthcare market. Although great strides have been made with pushing providers toward value-based care, the Centers for Medicare and Medicaid Services is continuing to drive change and innovation in the healthcare industry through newly proposed models, such as Transforming Episode Accountability Model (TEAM), ACO Primary Care Flex (ACO PC Flex), and Making Care Primary (MCP). These initiatives are poised to transform the healthcare landscape by enhancing care coordination, improving patient outcomes, and addressing health disparities while underscoring the importance of a connected continuum of care and the need for collaboration among all stakeholders.
By leveraging WellSky solutions, services, and data, providers can better navigate these changes, utilizing advanced tools and analytics to streamline care coordination, enhance patient engagement, and ensure compliance with new regulations. Recent results seen from WellSky CarePort Connect users include a 6% improvement in timely start of care for home health and a 4% decrease in acute length of stay for patients discharging to a SNF.
For more details on these findings, what they mean for the healthcare industry, and how WellSky can empower providers to navigate a complex and rapidly changing landscape, download the complete 2024 Evolution of Care Report.
About WellSky ®
WellSky is one of America’s largest and most innovative healthcare technology companies leading the movement for intelligent, coordinated care. Our proven software, analytics, and services power better outcomes and lower costs for stakeholders across the health and community care continuum. In today’s value-based care environment, WellSky helps providers, payers, health systems, and community organizations scale processes, improve collaboration for growth, harness the power of data analytics, and achieve better outcomes by further connecting clinical and social care. WellSky serves more than 20,000 client sites — including the largest hospital systems, blood banks, cell therapy labs, home health and hospice franchises, post-acute providers, government agencies, and human services organizations. Informed by more than 40 years of providing software and expertise, WellSky anticipates clients’ needs and innovates relentlessly to build healthy, thriving communities. For more information, visit wellsky.com.
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CONTACT: Media Contact:
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KEYWORD: KANSAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SOFTWARE MANAGED CARE GENERAL HEALTH PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY HOSPITALS ARTIFICIAL INTELLIGENCE HEALTH TECHNOLOGY DATA ANALYTICS PRACTICE MANAGEMENT HEALTH
SOURCE: WellSky
Copyright Business Wire 2024.
PUB: 10/10/2024 09:00 AM/DISC: 10/10/2024 09:02 AM
http://www.businesswire.com/news/home/20241010249588/en
