This webinar was originally broadcast on Tuesday, August 23, 2011 at 10:00am CST.
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About the Webinar
After wringing inefficiencies out of their facilities for decades, hospital executives are being told by Congress to squeeze some more. U.S. hospitals have pledged to trim $155 billion in “waste” over the next 10 years, or $2.6 million per hospital per year, to help pay for healthcare reform.
But where will they find those savings? It could be as simple as automating patient flow and keeping better track of medical devices, patients and employees.
According to the Advisory Board Company, an average 300-bed hospital could add $10 million in contribution margin by increasing individual bed utilization from 48.5 (the average for poor flow) to 62 times per year (the average for efficient flow).
Patient flow improvements can drastically reduce hospital overcrowding, which costs billions of dollars yearly in wasted time and compromised care. The American Hospital Association says every day the average ER parks one quarter its patients in its hallways. Consider the downstream cost for a patient with an undiagnosed myocardial infarction or an enlarging subdural hematoma waiting hours in an ED hallway while the staff is busy treating others.
Another cost saver is a proven technology called Real-Time Locating Systems (RTLS), which helps hospitals reduce search time for medical equipment, decrease capital expenses, improve patient monitoring and safety, and improve asset utilization. A study by healthcare market research firm KLAS showed that such RTLS technology can reduce equipment loss by as much as 50 percent, reduce bed turnover time by 20 percent and increase operating room utilization up to 70 percent.
This presentation will provide cost-effective strategies to address the impact of healthcare reform while staying afloat. Attendees will learn:
- Explore ways that automation can be used to produce cost savings and increase revenue
- Discuss automation with implementation of best practices process and strategies to decrease capital expenses, improve patient monitoring and safety, and improve asset utilization
- Hear real life examples of proven results that will enable you to make the business case for automation opportunities