By Julius Heil, President and CEO, Intalere
Growth and new revenue opportunities in the future will be driven by “asset light” models and a digital presence as opposed to the old brick and mortar models. This is evidenced as new companies and partnerships slowly delve into the healthcare arena – think Amazon, Uber, etc.
Reports of new breakthroughs in telehealth dominate the news and those that are not on board in some capacity will miss out on a significant opportunity to provide services at a much lower cost. For example, Intermountain Healthcare recently launched one of the nation’s largest virtual hospital services, bringing together 35 telehealth programs and more than 500 caregivers to enable patients to receive the medical care they need, regardless of where they are.
The virtual hospital provides basic medical care as well as advanced services, such as stroke evaluation, mental health counseling, intensive care and newborn critical care. While it doesn’t replace the need for on-site caregivers, it supplements existing staff and provides specialized services in rural communities where those types of medical care usually aren’t readily available.
In one case, an infant at a southern Utah hospital was being supported via virtual services and received a critical care consultation that allowed the baby to stay in that facility instead of being transferred to a newborn intensive care unit. This single transfer would have cost more than $18,000. Using this technology to reduce the need for transfers of ill newborns to other hospitals, Intermountain lowered the cost of care for patients by more than $2.1 million over several years.
Check out the latest video, Smart Growth and New Revenue, in our Flash Series and stay tuned in the coming weeks for more posts and videos about 12 Things Healthcare Must Achieve.
You can also download the executive briefing at Intalere.com.