Healthcare organizations are under tremendous pressure to remain profitable. The high costs of healthcare services, combined with a fast-changing landscape for reimbursements, are causing many providers’ budgets to end up in the red. The prestigious Mayo Clinic shocked the healthcare industry in 2017 by publicly acknowledging that increasing its Medicaid patient load by just 3.7% wiped out the hospital’s profitability. Meanwhile, one in three physicians freely admits that they will decline to accept patients who are likely to be costly and use a lot of resources, according to a 2017 Medscape study.
The reality is that healthcare organizations need all the help they can get to optimize patient revenue streams and avoid dipping into the red. One of the most effective ways to regain a competitive footing in this tumultuous industry is to implement Salesforce Health Cloud. This cloud-based platform builds and manages relationships among patients, providers, and other healthcare organizations, and it’s game-changing for revenue-conscious providers (which is pretty much every provider!). Let’s explore five key reasons why you should be using Salesforce Health Cloud to optimize patient revenue streams:
1. The fee-for-service healthcare model is dying: Under the traditional healthcare revenue model, providers are reimbursed for every procedure, test, and service rendered. The more items they bill for, the more they get reimbursed. But the Affordable Care Act is ushering in big changes: Instead of incentivizing fee-for-service healthcare, reimbursements are increasingly based on the quality of services delivered. Thus, providers can no longer count on a laundry list of services to prop up their revenue; they need to focus on improving patient outcomes. This journey starts with a next-generation tool like Salesforce Health Cloud capable of…
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