As hospitals across the country take steps to make up for the significant financial impact of lost volumes resulting from the COVID-19 pandemic, Premise Health, the world’s leading direct health care provider, is leveraging its partnership with Healthcare Bluebook, an industry-leading cost and quality transparency solution, to help its large employer clients connect their employees with high-quality, cost-effective care amid growing demand and cost.
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The impact from COVID-19 has been felt by health care providers across the country, especially hospitals and health systems. Thirty-seven states canceled elective and non-emergent procedures and approximately 30 percent were postponed, leading 55 percent fewer Americans to seek hospital care in March and April. Although many of these procedures can be postponed temporarily, they cannot be postponed indefinitely, leaving sidelined consumers looking to reschedule their procedures as quickly as possible, regardless of cost, while hospitals are under pressure to make up for significant financial losses.
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As a result of these losses, hospitals are likely to explore price increases for 2021 and may strive to capture additional volume and shift care to more profitable settings. According to an analysis from Strata Decision Technology, hospital revenues are down $60.1B per month since the start of the year, primarily because of decreased surgery volumes.
“We recognize many of our members and their families will need to see a specialist for care this summer or fall, and our work with clients and Healthcare Bluebook puts us in the perfect position to empower them to make the best, most affordable decision,” said Premise president Jami Doucette. “By being proactive and helping our clients stay ahead of these market changes, we can help them make the most of their health care spend and ensure their employees receive high quality specialty care at appropriate prices.”
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