Using technology can improve collaboration among hospitals and physicians, and THA's new joint venture with IllumiCare is a step toward bridging that gap.
Physicians are now aligned with health systems in sharing savings and helping them improve their current financial concerns. What physicians order and write (or don’t write) is a top driver of hospital costs through the influencing length of stay, quality of care and tests performed. The critical part is making this part of the physicians’ daily workflow.
Physicians’ orders control 87 percent of hospital expenses. However, they know very little about the cost of each item they order. Many studies have proven that informing physicians about treatment costs and/or risk of patient harm, at the time and place they are about to order the next test or medication, causes them to order fewer and less expensive tests and medications. However, there is currently no tool to automate this process.
Why does my hospital need Smart Ribbon?
Physicians’ orders control 87 percent of hospital expenses. However, they know very little about the cost of each item they order. Many studies have proven that informing physicians about treatment costs and/or risk of patient harm, at the point of care, causes them to order fewer and less expensive tests and medications.
What can Smart Ribbon Do?
As physicians and health care systems become better aligned to control costs and improve care, Smart Ribbon empowers providers. Its innovative, patent-pending design does not require EMR integration. Using HL7 feeds to gather clinical data, and leveraging existing authentication and permission infrastructure, Smart Ribbon produces measureable, harddollar reductions in costs. Through Smart Ribbon, physicians are shown real-time cost and risk data at the point of care, including detailed information about medications, labs and radiology. Smart Ribbon is a powerful tool that provides actionable clinical and financial intelligence, so hospitals can deliver more cost-effective and safer patient care.