Narrowing Networks: How to Protect Your Ranking and Increase Referrals
Have you ever wanted to know how you compare to other facilities? Are you concerned that you’re at risk for being narrowed out of your network? For many facilities, where they stand compared to others in their network has a substantial effect on their business. At PointClickCare, we know your concerns and are here to help give you some peace of mind.
By generating a heat map for your area, we can show you the other providers in your hospital network, and where your facility ranks within them. You’ll also see how your referrals are trending compared to the facilities around you. We’ve walked many businesses through this data, and they’ve been surprised to see their referrals diminishing over time relative to others in their area.
We can see that hospital X, for example, has been narrowing its network. In doing so, they’ve cut out 11 facilities in the last three years, leaving a list of six preferred providers to choose from. If your facility is within this area, wouldn’t you want to know where you stand? If you aren’t in this network, you could lose up to 50% of your referrals. In that same time period, we can show that PointClickCare customers seeing this information firsthand are nearly doubling the number of referrals by staying in the network.
“Most LTC facilities only know their own referral patterns, and don’t have that transparency into how other facilities in their network are doing, or even the direction of the network as a whole. They don’t know that this information is out there. The value of knowing where they rank amongst others in their area is too great to not know,” says Cam Harold, a PointClickCare analyst.
At PointClickCare, not only can we show you exactly where you rank, but we’re also working on using our data and analytics to predict how these networks will evolve and change in the future. With new regulations coming into effect, and penalties being enforced, hospitals are becoming stricter about where they send patients to ensure the patient gets the best possible care to avoid unnecessary rehospitalization. Hospitals are becoming increasingly concerned with where they are sending patients and referrals, and the need to be top of the list is a huge priority.
Contact us today and we’ll show you how you compare to others in your area and help ensure that you continue to receive referrals. By partnering with us, you’ll be able to protect your place in your network and improve your financial health.
August 22, 2018