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Efficiencies: Evaluate business processes

Efficiencies: Evaluate business processes Q. Is your business prepared to grow and scale profitably?

A. If you're like many home infusion providers, you focus most of your attention on improving the health of your patients. But what about the financial health of your business? While you've been staying on top of clinical best practices and regulatory issues, you haven't had time to evaluate your business processes and check out some of the latest technology advancements that can actually help you significantly improve efficiencies.

As more physician groups, health systems and payers recognize the cost savings of home infusion over inpatient services, the home infusion industry is expected to grow 10% annually over the next five years. That's a $26B market. Is your business prepared to capitalize on this growth, and grow profitably?

Many providers are starting to see this growth, but they are also starting to recognize that their business systems, processes and resources are still using an archaic means of communication and patient support. These out-of-date tools and processes result in:

-        Hundreds of hours of lost productivity among staff members playing phone tag with patients and other staff members;

-        Thousands of dollars being held-up while waiting on paper-based signatures and verbal authorizations; and

-        Many frustrated referral sources who expect high patient satisfaction and adherence rates.

Home infusion providers who have not modernized their businesses are leaving massive amounts of money on the table and are at risk for missing the opportunity to catch this growth wave.

Demonstrating your ability to deliver care efficiently while creating positive patient outcomes and experiences is becoming the standard by which more physicians, health networks and payers measure their referral partners as the industry moves away from fee-for-service reimbursements to value-based care arrangements.

Melissa Kozak is CEO of Citus Health. Reach her at [email protected]


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