Article from iAdvance Senior Care
Hospital readmissions are a common, costly and often avoidable challenge for the entire healthcare industry, including skilled nursing facilities (SNFs). An estimated $25 billion is spent each year on preventable hospital readmissions, and as we all know, many hospital readmissions are associated with unfavorable patient outcomes.
Although SNFs currently do not incur financial penalties for hospital readmissions, this is poised to change with the Centers for Medicare & Medicaid Services (CMS) regulations slated for October 2017. Further, our hospital partners bear the brunt of CMS penalties, so their challenge is our challenge, as we aim to maintain strong relationships and make sure our partners don’t lose faith in us.
The new CMS regulation is shaking up the status quo, but rather than viewing these changes in a negative manner, we should see this as an opportunity to build a better model of care. SNFs traditionally operated in silos, but now we will be able to focus more on what’s best for the individual patients, and our organizations will play a key role.