Today's skilled nursing facilities (SNFs) are battling to stay afloat. More than 450 facilities have closed since the start of the COVID-19 pandemic and an estimated 28% of SNF residents are at risk of displacement due to the potential for closure.[LF1] These numbers are a result of slim margins and rising costs, exacerbated by wage inflation and tough operational conditions. Reliance on government reimbursements that require constant compliance further complicates their ability to stay in business. To overcome these challenges and achieve long-term success in such an unpredictable environment, SNFs must identify strategic solutions that will increase margins, reduce costs, and optimize revenue.
The key? Integrating smarter, more connected technologies through electronic health records (EHRs). A connected network increases care quality and analytics by providing real-time data and ensuring the necessary insights for compliance, ultimately enabling facilities to:
- Enhance care coordination with better visibility into clinical data
- Deploy AI/ML solutions for data-driven clinical, financial, and operational analytics
- Capture the necessary details for proper reimbursement
- Maintain compliance with state and federal regulations
- Forecast future cost and identify potential savings
PointClickCare's white paper delves into the value of integrated, connected technology and other resources needed to pursue financial stability. Discover actionable strategies to enhance care delivery, ease compliance, maximize reimbursements, and gain valuable insights for optimization—all reinforced by PointClickCare's proven, real-world customer success stories.
Download it here: https://pointclickcare.com/resource/skilled-nursing-software/ebooks-white-papers/improving-financial-outcomes-skilled-nursing/?utm_medium=paid-media&utm_source=provider+magazine+&utm_campaign=fy24-q4-09-17-bcomm-snc-snf-oa&pcc_utm=fy24-q4-09-17-bcomm-snc-snf-oa&utm_id=fy24-q4-09-17-bcomm-snc-snf-oa
Source: https://www.ahcancal.org/News-and-Communications/Fact-Sheets/FactSheets/CLA-Economic-State-SNFs-Report-Feb2023.pdf [LF1]