Creating Alternative Revenue Streams

Develop sustainable operational processes that create opportunities to utilize best practices in patient care and functions. Student Success Criteria View the grading rubric for this deliverable by selecting the “This item is graded with a rubric” link, which is located in the Details & Information pane. Scenario Health organizations continue to face challenges relative to costs and revenue. Changes in reimbursement structure is most often cited as one of the biggest challenges for providers. As a result, leaders are developing new approaches aimed at creating additional revenue streams. Traditionally, hospitals have operated on profit margins that are often described as challenging. As a result of increased labor costs and a shift in payer mix, hospitals are being forced to do more with fewer resources. Consequently, hospitals are seeking new ways to improve their margins. Increasing patient volume is no longer effective in improving margins given the focus on value-driven care. As the CEO of XYZ hospital, you are asked to make a presentation to the board regarding ways to identify new streams of revenue. Your hospital operates in a low-income community with a significantly large population of residents enrolled in Medicare and Medicaid coverage. Critical issues such as length of stay (LOS) requirements and other financial threats are creating an urgent need for your organization to consider new revenue sources. After conducting research into the development of alternate revenue streams implemented by hospitals, you propose a new state of the art wellness center. Your task is to gain support for the wellness center. Instructions Create a PowerPoint presentation in which you highlight the following: Describe, in detail, the service offerings that you would include in your new wellness center. Discuss any potential barriers to implementing the wellness center. Explain how the new wellness center can potentially affect overall costs. Explain how the new wellness center can potentially affect overall quality of care. Describe the potential impact of the new wellness center on the underserved. Discuss the potential implications of the proposed revenue stream on payers, patients, and providers

Sample Solution

To gain support for a new state-of-the-art wellness center in a low-income community with a significantly large population of residents enrolled in Medicare and Medicaid coverage, the following should be highlighted in a PowerPoint presentation:

.1 Service Offerings

The wellness center should offer a variety of services that are tailored to the needs of the community. Some potential service offerings include:

Primary care: The wellness center should offer primary care services to patients of all ages. This would include preventive care, such as immunizations and screening tests, as well as treatment for acute and chronic conditions.

Full Answer Section

Behavioral health: The wellness center should also offer behavioral health services, such as counseling and therapy. This is important because mental health conditions are common and can have a significant impact on physical health.
Chronic disease management: The wellness center should offer programs to help patients manage chronic diseases, such as diabetes, heart disease, and asthma. These programs can help patients to improve their quality of life and reduce their risk of complications.
Health education: The wellness center should offer health education programs to teach patients about healthy living habits, such as nutrition, exercise, and stress management. These programs can help patients to prevent chronic diseases and improve their overall health.
Community outreach: The wellness center should conduct community outreach programs to educate the community about the importance of preventive care and healthy living.

.2 Barriers to Implementation

There are a number of potential barriers to implementing a new wellness center, including:

Cost: The cost of building and operating a new wellness center can be significant.
Staffing: The wellness center will need to be staffed with qualified healthcare professionals, which can be difficult to find in some areas.
Location: The wellness center should be located in a convenient location that is accessible to all residents of the community.
Marketing: The wellness center will need to be marketed to the community in order to attract patients.

.3 Impact on Overall Costs

The new wellness center can potentially affect overall costs in a number of ways. For example, the wellness center can help to reduce the cost of healthcare by preventing chronic diseases and managing chronic conditions more effectively. The wellness center can also help to reduce the cost of hospitalization by providing patients with the care they need in a community setting.

.4 Impact on Overall Quality of Care

The new wellness center can potentially affect overall quality of care in a number of ways. For example, the wellness center can help to improve the quality of care by providing patients with access to comprehensive preventive care and chronic disease management programs. The wellness center can also help to improve the quality of care by coordinating care with other healthcare providers in the community.

.5 Impact on the Underserved

The new wellness center can have a significant impact on the underserved by providing them with access to affordable, high-quality healthcare. The wellness center can also help to reduce health disparities in the community by providing culturally competent care and addressing the social determinants of health.

.6 Implications for Payers, Patients, and Providers

The proposed revenue stream has a number of potential implications for payers, patients, and providers.

Payers: Payers may be reluctant to reimburse for services provided at a wellness center, especially if they perceive the wellness center as competing with traditional healthcare providers. However, payers may be more willing to reimburse for wellness center services if they can demonstrate that these services are effective in reducing healthcare costs and improving quality of care.

Patients: Patients may be more likely to use a wellness center if it is located in a convenient location and offers affordable services. Patients may also be more likely to use a wellness center if it offers services that are tailored to their specific needs.

Providers: Providers may be concerned that a wellness center will compete with their practices. However, providers may also be able to benefit from a wellness center by partnering with the wellness center to provide services to their patients.

Conclusion

A new state-of-the-art wellness center in a low-income community with a significantly large population of residents enrolled in Medicare and Medicaid coverage can have a significant positive impact on the community. The wellness center can help to reduce healthcare costs, improve quality of care, and reduce health disparities.

The wellness center should be designed to meet the specific needs of the community. It should offer a variety of services, including primary care, behavioral health, chronic disease management, health education, and community outreach.

The wellness center should be located in a convenient location and should offer affordable services. The wellness center should also be marketed to the community in order to attract patients.

Payers may be reluctant to reimburse for services provided at a wellness center, but they may be more willing to reimburse for wellness center services if they can demonstrate that these services are effective in reducing healthcare costs and improving quality of care.

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