Understanding the financial impacts of clinical communication and collaboration

Address costly system-wide challenges simply and efficiently

In recent years the healthcare industry has endured significant staff shortages, increased patient volumes, and rising expenses. Increased pressure has led to four significant threats to patient outcome and total revenue: system-wide inefficiencies, tool complexity, care team burnout, and ineffective patient processes. With various departments attempting to communicate with one another, it is no surprise that a lack of streamlined clinical communication and collaboration has led to prolonged length of stay, frustrating phone tag, unsatisfactory patient outcomes, and financial bleeding.

These challenges create a chaotic atmosphere and costly miscommunication that amounts to 30% of malpractice claims, $1.7 billion in hospital costs, and 2,000 preventable deaths yearly. 

How can healthcare executives balance the pressure to be profitable with seemingly insurmountable challenges? Fortunately, there is a way. In order to provide the best patient care possible and earn a return on investment (ROI), healthcare systems can begin by pinpointing their challenges and simplifying their tools using a secure clinical communication and collaboration (CC&C) platform.

 

Pressure to Be Profitable: Four Financial Impacts of CC&C Modern communication technology delivers tangible ROI Watch Now

 

Opportunities for transformation in healthcare

Modern healthcare technology can improve the efficiency and ROI in the most innovative hospitals by utilizing mobile apps proven advantageous to hospital workflow, communication, patient care, and financial bottom line. Without the worries of delays, administrative errors, and frequent system failures, caregivers can now communicate information with the rest of their team accurately and efficiently on organization-issued devices, personal devices, and desktops. Given recent technological advances, mobile technology has the potential to alleviate chaos, increase accuracy, and allow more time for thorough patient care.

In the upcoming webinar, “Pressure to be Profitable: Four Financial Impacts of CC&C,” Cheryl McKay, Ph.D., RN, will address the current challenges healthcare executives face. She will also discuss how a healthcare collaboration platform like TigerConnect helps health systems: 

• Decrease length of stay
• Increase ED capacity
• Reduce costs through vendor consolidation and pager replacement
• Improve workflow efficiency with faster response times and transfers
• Alleviate alarm fatigue while retaining nursing staff

TigerConnect customers are achieving results with clinical communication and collaboration

Strategies like these have become the ultimate game changer for health care teams nationwide. For example, Temple University Health System reduced $130,000 in annual costs with pager replacement, and Decatur Morgan Hospital has increased its nurse retention rate to 92.8% by increasing workforce efficiency with TigerConnect. 

TigerConnect customers like Waterbury Hospital, which reduced their length of stay by nearly two days and saved over $2,200 per patient, are using the TigerConnect Collaboration platform to optimize and advance the patient process. Customers have also substantially increased their workforce efficiency, saved time, and experienced significant digital and clinical transformation. University of Maryland Health System has increased code blue response time and saved 2.25 minutes. 

With CC&C, healthcare leaders can be confident in their ability to simplify existing workflows and eliminate miscommunication, thereby reducing medical errors, malpractice claims, and regrettable never events.

Are you interested in overcoming costly errors and inefficiency?

Register for the webinar and join Tiger Connect Nurse Executive Cheryl McKay, Ph.D., RN, to discover how implementing a modern, HIPAA-compliant CC&C platform can achieve tangible ROI for your organization.

Tags: cost, healthcare collaboration platform, financial impacts, ROI, digital transformation, efficiency, vendor consolidation, patient throughput, Clinical communication and collaboration platform, Clinical Transformation, CC&C, Clinical Collaboration, Clinical Communication