How to Reach Serious ROI with Improved Service Delivery
When it comes to gathering consistent, accurate, and up-do-date information on residents, the paper-based senior living communities are at a disadvantage. Only technology can provide caregivers and staff with the information needed to make important decisions in real-time that drive better outcomes, for both residents and the community.
In fact, according to a survey conducted by LeadingAge, a whopping 91% of respondents agreed that electronic health record (EHR) technology delivers greater visibility and access to information across their organization. However, when LeadingAge asked survey participants if they’ve invested in EHR technology at their senior living community, only 48% said yes.
While a number of providers have been slow to adopt an EHR, the ones who have are seeing fantastic results. Welcov Healthcare implemented EHR technology across their Assisted Living division, which consists of 18 residences across seven states. The primary goals for Welcov’s Assisted Living division was to re-evaluate their pricing and services bundling in an effort to gain better insight into the needs of their current and incoming residences.
The results were more than they could’ve asked for; a revenue increase of 12% annually, representing $749,829 for the Assisted Living division. And that’s not all. The EHR provided anywhere, anytime access for all team members across Welcov’s Assisted Living division, as well as an improvement in forecasting for the operations team, as service levels are now tied to resident acuity.
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March 20, 2017