NEW YORK, March 8, 2017 /PRNewswire/ --
NetworkNewsWire Editorial Coverage: Hospital CEOs have bigger headaches thanmost, as their institutions face a growing demand for services and rising costs. As a result, for the 13th year in a row, hospital managers put financial challenges at the top of a list of their leading administrative afflictions, according to a recent
The financial issue that poses the knottiest challenge is Medicaid reimbursement. In the report, 63 percent of respondents identified this as their chief concern. Increasing costs for staff and supplies pose another threat to their institutions, said 60 percent of respondents, while reducing operating costs worried 55 percent of those sampled. Participants were asked to select all the issues that affected them and not just the one that was of the greatest concern. These data indicate that a majority of hospital managers view the future financial viability of the institutions they run with some anxiety.
Responses about the impact of regulation were equally revealing and were linked, inevitably, to the financial issue. Fifty-one percent of hospital CEOs fretted over the cost of demonstrating compliance, while 57 percent took issue with the Centers for Medicare & Medicaid Services (CMS) audits that were associated with compliance. In general terms, 67 percent expressed dissatisfaction with the current regulatory environment.
The issues of patient safety and provision of quality care are, naturally, always in focus for health care providers. The redesign of care processes, particularly after the passage of the Affordable Care Act, occupied the minds of 48 percent of hospital head honchos; 57 percent worried about how to encourage physicians to reduce unnecessary tests and procedures, while just as many (59 percent) were apprehensive about engaging doctors regarding improvement of the overall culture of quality and safety.
A number of tech savvy pioneers are rushing forward with solutions to address these challenges, in one way or another. ORhub (ORHB), for example, offers a cloud-based software platform designed to transform the business of surgery into a value-based model. The company's platform - currently at work in two regional hospitals in California - enables care providers at every stage of the surgical process to collaborate, organize, deliver, measure and reimburse in one intuitive, easy-to-use program.
The result has groundbreaking potential. By eliminating inefficiencies, duplication of effort, errors and omissions that result from antiquated software and human error, ORhub's platform could revolutionize surgical care delivery by tracking the cost of treating a condition from diagnosis to discharge, and by tracking outcomes that resulted from that treatment.
ORhub initially started as a pilot program developed in cooperation with a major Southern California hospital. Now running at full-throttle, ORhub has expanded operations into a second facility at the number two non-profit hospital system in the United States, and it is gearing up for national implementation of its platform.
NetworkNewsWire Exclusive Audio Interview with ORhub (ORHB)
As a health care IT company, Medical Transcription Billing, Corp. (NASDAQ: MTBC) offers an integrated suite of proprietary electronic health records and practice management solutions designed to help its customers increase revenues, streamline workflows and make better business and clinical decisions, all while reducing administrative burdens and operating costs. The company has been employing an add-on strategy that has seen it enter into 15 mergers or business combinations with ambulatory revenue-cycle-management (RCM) companies over the last five years. MTBC recently announced that its voice-enabled EHR platform, talkEHR™, has achieved 2015 Edition ONC Health IT certification as a Health IT Module.
Another solution provider to the health care industry is The Cerner Corporation (NASDAQ: CERN), the world's largest publicly traded health information technology company. Headquartered in North Kansas City, Missouri, the company had 2016 revenues of $4.8 billion. Last month, it opened the doors of two new office towers as part of its "Innovation" campus. The complex, to be further expanded over the next 10 years, is being constructed to look like a strand of DNA. Cerner provides leading-edge solutions and services for health care organizations worldwide.
Quality Systems, Inc. (NASDAQ: QSII) and its subsidiaries develop and market EHR, practice management, RCM, interoperability solutions and clinical workflow and operations consulting services for medical and dental group practices and hospitals throughout the U.S. The company's stock recently reached a new 52-week high, hitting a peak of $15.72, giving the company a market cap of $960 million. Quality Systems' NextGen Healthcare subsidiary was recently recognized in the annual "Best in KLAS" rankings by the health care delivery research firm KLAS. NextGen Healthcare clients scored the practice management solution 12 percentage points higher year-over-year in the 75+ provider segment of the Most Improved Award Category.
Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX) provides practice management and EHR technology to physician practices, hospitals and other health care providers. The company also offers solutions that improve patient engagement and care coordination. Its customer and user base includes more than 180,000 physicians operating in 2,700 hospitals and 13,000 extended care organizations. The company earlier this week said it was accepted onto the NHS London Procurement Partnership (LPP) Clinical and Digital Information Systems (CDIS) Framework in both the acute care and innovation categories.
In the press release announcing Allscripts' news, Steven Brain, VP and Managing Director of Allscripts, UK, adequately summed up the obstacles many health care CEOs face. "Organisations are under tremendous pressure to choose robust and reliable health information technology solutions, all while reducing cost," he said.
Today's health care solutions providers are in an incredible position to address the complexities of an industry shackled with high volume and high regulation, trailblazing a new approach to health care that benefits care providers and facilities, patients, and the corporations driving innovation.
Source: Becker's Hospital Review (http://nnw.fm/6yuAB)
For more information on ORhub, Inc. please visit: ORhub, Inc. (ORHB) & http://www.ORhub.com
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
New York, New York
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is a source of content listed above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer or comparison to the profiled issuer. FN Media Group, LLC (FNM), is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker-dealer/analyst/adviser, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release. NNW's compensation disclosure is incorporated herein and appears in full at http://NNW.fm/Disclaimer
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW & FNM undertakes no obligation to update such statements.
Media Contact e-mail: FN Media Group, LLC [email protected] (954)345-0611
Subscribe to our Free Newsletters!
Niemann-Pick disease is a group of inherited metabolic disorders in which cholesterol and lipids ...
Raspberries are packed with important nutrients, vitamins and minerals. They help boost immunity, ...
Adult immunization is needed for adults whose mandatory childhood vaccines were either missed out ...View All