Welcome to IntellaTriage
Welcome to the IntellaTriage blog. More importantly, welcome to the first of what we expect to be many useful and timely blogs regarding everything Hospice and Home Health. Here at IntellaTriage we are committed to top quality content and timely news sharing so we thought what better way to start our blog than to present some basic information about what we do while providing some basic information about the Hospice care industry.
Most Americans know very little about Hospice and Palliative care. Did you know that Medicare costs for hospice are up 70%? In turn, Medicare is also looking for ways to reduce reimbursement for hospice care facilities. As a Hospice provider, this should alarm you. Along with all of the other economic pressures hitting healthcare today, we now have to try and find ways to continue our businesses with less.
Let me offer a few more important facts that might help to create a fuller picture of hospice reimbursement:
- Medicare hospice cuts over the next 10 years will reduce reimbursement by more than 14%.
- These cuts will reduce hospice profit margins, going from 4% to an 11% loss.
- Many hospice agencies, particularly those that cover rural areas, will likely go out of business
- According to a Duke University study, hospice care saves Medicare on average $2,300 per patient.
We all know that one of the most wasteful aspects of Medicare-covered health care occurs at the end of life. We have heard many times that well-meaning family members want everything medically possible done. So turning our minds toward quality at the end of life, we not only need to focus on providing the best medical care but also try to step toward reducing our country’s high medical costs.