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| John Chuang and Scott Hopes of Onyx Healthcare USA, Inc., a solution provider at the marcus evans LTC & Senior Living CXO Summit Spring 2015, on being competitive as a LTC or senior living facility amid the changes in the healthcare industry. |
NEW YORK, N.Y., Feb 4, 2015 - (ACN Newswire) - Long-term care (LTC) facilities are fighting for business in the healthcare sector, competing for hospital discharges. "The higher the level of care a LTC facility can provide and its ability to reduce readmissions to hospitals, the more valuable its service will be regarded and the volume of patients it receives from hospitals will increase," according to John Chuang, President, and Scott Hopes, Chief Medical Officer, Onyx Healthcare USA, Inc.
Onyx Healthcare USA, Inc. is a solution provider for medical grade telemedicine and patient engagement IT solutions at the marcus evans LTC & Senior Living CXO Summit Spring 2015, in Los Angeles, California, February 9-10.
- How is the LTC business and reimbursement changing today?
Hopes: With changes in healthcare financing, there is more focus towards clinical outcomes and quality of care. Hospitals are penalized if patients are readmitted within 30 days. LTC facilities are increasingly relied on as a partner in that care, as a patient transitions from the acute care hospital setting back home, with an intermediary or transitional stay in the LTC facility.
That brings numerous challenges, including communication with the clinical team and a higher degree of reliance on access to the patient's medical record. The question is, how can they implement the necessary technologies despite capital funding constraints and actually deliver care that used to be delivered at the hospital level? We have an entire line of solutions for clinical connectivity and communication, including telemedicine and access to disparate electronic health records across facilities and care settings.
- In this in-between role, why should they focus more on technology? How can they be a better link between acute care and the home setting?
Hopes: The technology to link the entire care organization has historically not existed. Unlike hospitals and physician offices, the LTC sector did not receive federal government incentive payments to implement Electronic Health Records (EHRs). That connectivity has not become the standard. To be a participant in the continuum of care, LTC must also be able to collect and access patient information.
Chuang: In addition, most of the technology deployed in facilities until recently was consumer electronics and not built to survive in a medical or healthcare environment. Many are having to deploy more advanced technology to be certified for the medical environment, both to be more reliable and for cyber security reasons.
- Why do LTC facilities need telemedicine? How would that boost their bottom line?
Chuang: Patients can be closely followed up with the doctors who provided treatment at the hospital before they transitioned over to LTC. Instead of doctor on-site visits, that can be done through telemedicine technology, allowing the doctor to provide more care to more people.
Hopes: In the traditional LTC and post-acute care setting, there are periods when no physicians are in the facility. In the evenings and nights, there may only be a nurse. If someone has an acute event in that time, he or she will be transported to a hospital emergency room in an ambulance, and perhaps admitted. The next day, they may be transported back.
A physician evaluation needed at the time one was not available ends up costing the hospital USD 40,000 to 50,000 for a one-day stay. With telemedicine, a consultation could have been conducted and a clinical determination made, eliminating that costly transfer.
Chuang: Minimizing readmissions and penalties is key. This year, some Florida hospitals will receive a three percent reduction on their Medicare reimbursement for the entire year just because of readmissions. Thus, when a patient is readmitted, not only will the hospital not get paid for that return length of stay, which could be USD 50,000, but also the following year it will get a penalty on all Medicare payments for the year.
When LTC facilities are bundled into the financial payment for a particular episode of care, they can be exposed to additional cost. It will be the facilities that can offer this technology and EHR connectivity, where everyone is better informed about what care has or should be delivered, that will succeed.
About the LTC & Senior Living CXO Summit Spring 2015
The 8th Long-Term Care & Senior Living CXO Summit is the premium forum bringing senior level executives and solution providers together. The Summit offers an intimate environment for a focused discussion of key new drivers shaping the long-term care industry. Taking place at The Ritz-Carlton, Marina del Rey, Los Angeles, California, February 9-10, 2015, the Summit includes presentations on improving efficiency and profit margins, reimbursement management and strategy, catering for the baby boomers and reducing readmissions.
For more information please send an email to press@marcusevanscy.com or visit the event website at www.longtermcaresummit.com/JohnChuangScottHopesInterview
marcus evans group - healthcare sector portal - www.marcusevans.com/reviews/healthcare
Please note that the Summit is a closed business event and the number of participants strictly limited.
About Onyx Healthcare USA, Inc.
ONYX Healthcare USA, Inc. is a 100% medically focus subsidiary company of ASUS Group (Revenue: US$ 17B+) with 15 plus years of medical device design experiences and ISO13485/ISO9001/FDA Registered manufacturing practices. From hospitals to long term care facilities, ONYX focuses on providing turnkey telemedicine and patient engagement computing solutions such as surgical workstation, patient infotainment terminal, and mobile nursing workstation, and medical tablet to enhance workflow efficiency and patient experiences. http://usa.onyx-healthcare.com.
Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager, marcus evans, Summits Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com
Topic: Trade Show or Conference
Source: marcus evans Summits
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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