Intangible ROI of Transforming Patient Care Logistics With Technology

Intangible ROI of Transforming Patient Care Logistics With Technology

After adopting new technology, it’s common for an organization to start measuring the success or benefits gained from that investment.

When measuring success, many Medicare Advantage plans tend to focus on quantifiable metrics such as:

• Return on investment (ROI)
• Tax reductions
• Savings on labor
• Member costs

While these metrics are important, they aren’t the only measure of success. ROI is typically viewed quantitatively, but it can also result in benefits that cannot be measured. Such intangible benefits are essential to a holistic program.

Modernizing patient care logistics through a comprehensive technology solution like VECTORCARE HUB will undoubtedly bring about measurable financial and operational gains. However, it’s essential not to forget the numerous intangible returns on investment also created.

These intangible benefits include:

Increased Member Satisfaction

Members trust their Medicare Advantage plan to help them manage their health. When unfortunate instances such as SURPRISE BILLING FOR EMERGENCY OR NON-EMERGENCY TRANSPORTATION SERVICES happen, that trust is jeopardized.

Surprise billing is less likely to occur when members have a large network of contracted transportation providers because they won’t have to utilize an out-of-network service. VectorCare Hub makes it easy for plans to manage a healthy and extensive network of contracted transportation providers.

Members who have access to a robust network of transportation providers consistently make it to their appointments on time. Prompt, reliable transportation not only increases their satisfaction but plans’ revenue margins AS MISSED APPOINTMENTS CAN HAVE SIGNIFICANT DOWNSTREAM CONSEQUENCES.

Members with reliable roundtrip transportation are also less likely to require hospitalization as they feel more confident managing their condition(s). Knowing they have the option to pre-schedule transportation services weeks or months in advance gives them peace of mind.

In addition, ensuring the credentials of your transportation providers creates increased member satisfaction and safety. Members feel confident riding with providers who are licensed, trained, and have vehicles that meet specific requirements. Proper credentialing also adds to the integrity of your program, which ultimately HELPS REDUCE FRAUD, WASTE, AND ABUSE (FWA).

Increased Staff Efficiency  

Implementing a patient care logistics solution enables staff to ditch outdated modes of communication, such as faxing paperwork, making phone calls, and cross-referencing records by hand. Streamlining these efforts leads to increased efficiency and productivity among employees as they can allocate their time to other job functions.

Setting up configurable workflows and integrating existing systems and billing records into VectorCare Hub’s software creates a single source of truth for administrative staff, saving them time and effort and helping them avoid troubling discrepancies.

Increased Security and Access to Information

VectorCare Hub allows plans to maintain information about members and service providers within a single HIPAA-compliant cloud-based system.

Having access to secure, comprehensive information creates END-TO-END VISIBILITY across the entire patient care continuum, helping to avoid situations that may negatively affect plans, as well as their members.

Realize Intangible ROI With VectorCare Hub

Medicare Advantage plans can realize not only tangible benefits through the modernization of their patient care logistics via technology but intangible benefits that create a comprehensive, holistic program for members and staff alike.

Through the utilization of VectorCare Hub, your plan can increase member satisfaction, staff efficiency, security, and access to information.

CONTACT US today to schedule a demo.