New York, New York (NetworkNewsWire) – Hospital CEOs have bigger
headaches than most, as their institutions face a growing demand
for services and rising costs. As a result, for the 13th year in a
row, hospital managers put financial challenges at the top of a
list of their leading administrative afflictions, according to a
recent survey by Becker’s Hospital Review*. The frustration centers
on new regulations and the complex transmutation of health care
still underway as a result of the Patient Protection and Affordable
Care Act (ACA). Government mandates and patient safety and quality
appeared as No. 2 and No. 3 on the blacklist, which means that
solution providers like ORhub, Inc. (ORHB) (ORhub
Profile), Medical Transcription Billing, Corp. (MTBC), Cerner
Corporation (CERN), Quality Systems, Inc. (QSII) and
Allscripts Healthcare Solutions, Inc.
(MDRX) are in a good position to alleviate some health
care industry challenges.
The financial issue that poses the knottiest challenge is
Medicaid reimbursement. In the report, 63 percent of respondents
identified this as their chief concern. Increasing costs for staff
and supplies pose another threat to their institutions, said 60
percent of respondents, while reducing operating costs worried 55
percent of those sampled. Participants were asked to select all the
issues that affected them and not just the one that was of the
greatest concern. These data indicate that a majority of hospital
managers view the future financial viability of the institutions
they run with some anxiety.
Responses about the impact of regulation were equally revealing
and were linked, inevitably, to the financial issue. Fifty-one
percent of hospital CEOs fretted over the cost of demonstrating
compliance, while 57 percent took issue with the Centers for
Medicare & Medicaid Services (CMS) audits that were associated
with compliance. In general terms, 67 percent expressed
dissatisfaction with the current regulatory environment.
The issues of patient safety and provision of quality care are,
naturally, always in focus for health care providers. The redesign
of care processes, particularly after the passage of the Affordable
Care Act, occupied the minds of 48 percent of hospital head
honchos; 57 percent worried about how to encourage physicians to
reduce unnecessary tests and procedures, while just as many (59
percent) were apprehensive about engaging doctors regarding
improvement of the overall culture of quality and safety.
A number of tech savvy pioneers are rushing forward with
solutions to address these challenges, in one way or another.
ORhub
(ORHB), for example, offers a cloud-based software
platform designed to transform the business of surgery into a
value-based model. The company’s platform – currently at work in
two regional hospitals in California – enables care providers at
every stage of the surgical process to collaborate, organize,
deliver, measure and reimburse in one intuitive, easy-to-use
program.
The result has groundbreaking potential. By eliminating
inefficiencies, duplication of effort, errors and omissions that
result from antiquated software and human error, ORhub’s platform
could revolutionize surgical care delivery by tracking the cost of
treating a condition from diagnosis to discharge, and by tracking
outcomes that resulted from that treatment.
ORhub initially started as a pilot program developed in
cooperation with a major Southern California hospital. Now running
at full-throttle, ORhub has expanded operations into a second
facility at the number two non-profit hospital system in the United
States, and it is gearing up for national implementation of its
platform.
NetworkNewsWire
Exclusive Audio Interview with ORhub (ORHB)
As a health care IT company, Medical Transcription
Billing, Corp. (MTBC) offers an integrated suite of
proprietary electronic health records and practice management
solutions designed to help its customers increase revenues,
streamline workflows and make better business and clinical
decisions, all while reducing administrative burdens and operating
costs. The company has been employing an add-on strategy that has
seen it enter into 15 mergers or business combinations with
ambulatory revenue-cycle-management (RCM) companies over the last
five years. MTBC recently announced that its voice-enabled EHR
platform, talkEHR™, has achieved 2015 Edition ONC Health IT
certification as a Health IT Module.
Another solution provider to the health care industry is
The Cerner Corporation (CERN), the world’s largest
publicly traded health information technology company.
Headquartered in North Kansas City, Missouri, the company had 2016
revenues of $4.8 billion. Last month, it opened the doors of two
new office towers as part of its “Innovation” campus. The complex,
to be further expanded over the next 10 years, is being constructed
to look like a strand of DNA. Cerner provides leading-edge
solutions and services for health care organizations worldwide.
Quality Systems, Inc. (QSII) and its
subsidiaries develop and market EHR, practice management, RCM,
interoperability solutions and clinical workflow and operations
consulting services for medical and dental group practices and
hospitals throughout the U.S. The company’s stock recently reached
a new 52-week high, hitting a peak of $15.72, giving the company a
market cap of $960 million. Quality Systems’ NextGen Healthcare
subsidiary was recently recognized in the annual “Best in KLAS”
rankings by the health care delivery research firm KLAS. NextGen
Healthcare clients scored the practice management solution 12
percentage points higher year-over-year in the 75+ provider segment
of the Most Improved Award Category.
Allscripts Healthcare Solutions, Inc. (MDRX)
provides practice management and EHR technology to physician
practices, hospitals and other health care providers. The company
also offers solutions that improve patient engagement and care
coordination. Its customer and user base includes more than 180,000
physicians operating in 2,700 hospitals and 13,000 extended care
organizations. The company earlier this week said it was accepted
onto the NHS London Procurement Partnership (LPP) Clinical and
Digital Information Systems (CDIS) Framework in both the acute care
and innovation categories.
In the press release announcing Allscripts’ news, Steven Brain,
VP and managing director of Allscripts, UK, adequately summed up
the obstacles many health care CEOs face. “Organisations are under
tremendous pressure to choose robust and reliable health
information technology solutions, all while reducing cost,” he
said.
Today’s health care solutions providers are in an incredible
position to address the complexities of an industry shackled with
high volume and high regulation, trailblazing a new approach to
health care that benefits care providers and facilities, patients,
and the corporations driving innovation.
Source: Becker’s Hospital Review (http://nnw.fm/6yuAB)
For more information on ORhub, Inc. please visit: ORhub, Inc.
(ORHB) & www.ORhub.com
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