Cost of Avoidable Hospital Days
The cost of avoidable hospital days has significant financial implications. Both to the hospital and the patient and family. For each avoidable hospital day, patients may incur additional charges.
If a patient requires ongoing medical care and services, these expenses can be substantial. Medicare only covers the full cost of SNF care for the first 20 days. Avoidable hospital days can cut into a patient’s allowable SNF days. These delays lead to higher out of pocket costs for the patient once they finally transfer to a SNF, contributing to the overall cost of hospital avoidable days.
Healthcare Cost Concerns
The excessive cost of health care is a drain on U.S. families (KFF Health Care Debt Survey: Feb.-Mar. 2022). Half of U.S. adults stated they have difficulty in affording healthcare costs. One in four said within the past 12 months they or a household family member struggled with paying for health care. Having debt due to medical or dental bills was reported by 41% of those polled. This includes debts owed to credit cards, collections, and to friends or family members.
Seventy-five percent of adults say they are “very” or “somewhat worried” about being able to afford unexpected medical bills. They expressed concern about the cost of health care services for themselves and their families. Half of adults would go into debt if they had to pay and unexpected medical bill of $500.
Even those with health insurance struggle with the high cost of healthcare. Almost half of U.S. adults report that it is very or somewhat difficult for them to afford their health care costs.
Nursing Home Costs
The costs of long-term care are also a concern. Feeling “somewhat anxious” regarding the ability to afford the cost of a nursing home or assisted living facility was described by 57% of adults sixty-five and older. Concerns about having resources to pay for care as they age was stated by 43%.
It would be impossible or very difficult for the overwhelming majority of adults to pay for a one year at a nursing home. The estimated cost estimated to be around $100,000. Approximately half of those with annual incomes of greater than $90,000 say they are anxious about being able to afford the cost of a nursing home. This same concern also pertained to assisted living facility.
Mitigating the Cost of Avoidable Hospital Delays
The cost of avoidable hospital days has significant financial implications to both the hospital and the patient and family. Minimizing delays in discharge is critical to mitigating the associated risks associated with unnecessary hospital days.
Learn more about expediting post-acute authorizations to decrease the cost of hospital avoidable days and length of stay while improving overall hospital throughput. IHS has created a specialized niche in this business and can help you in transform your discharge process while saving your hospital significant dollars.