How Claims Discounting Improves Patient Care and Outcomes

How Provider Financial Health Boosts Patient Outcomes

The financial health of provider organizations is critical for supporting high standards of care and ultimately positive patient outcomes. Numerous peer-reviewed studies having substantiated this positive correlation between hospital financial performance and the quality and safety of patient care, financially stable hospitals exhibit better patient experiences, lower readmission rates, and decreased risk of adverse patient outcomes.

For instance, the Deloitte 2023 Annual Healthcare Report highlights that hospitals with strong financial health not only manage to provide superior patient care but also invest in the necessary infrastructure and technology to maintain high standards of service.

The 2023 Deloitte report also underscores several key factors that link financial health to improved patient outcomes. One critical aspect is tied to the need of hospitals to continually update and reconfigure their complex facilities, equipment, and devices to keep pace with evolving care models, and where the ability to conduct routine capital replacement is therefore critical.

Financially robust hospitals can afford these updates, ensuring that patients receive care with the latest and most effective technologies. Financially stable hospitals are also better positioned to provide significant community benefits, including charity care and unreimbursed health profession expenses, which contribute to overall community health.

The Impact of Financial Health on Complex Care Services

The ability to offer complex care services, such as those provided by academic medical centers or urban hospitals, is heavily influenced by a hospital's financial health. The Deloitte report reveals that hospitals serving large Medicaid or underinsured populations often face lower reimbursement rates, making financial stability even more critical. Hospitals with better financial performance also see improvements in patient satisfaction and experience, as they can afford to maintain a higher level of service and care.

Partnering with Claim Catalyst

Integrating medical claim discounting into your financial strategy can significantly enhance your organization’s financial health. By partnering with Claim Catalyst, healthcare providers can receive upfront payments on their outstanding medical claims, ensuring immediate liquidity. This financial stability allows for continuous investment in necessary capital replacements and community benefits, ultimately improving patient care and outcomes. If you are interested in taking the first step in improving your practice's financial performance, contact the Claim Catalyst team today to learn about our next steps to set up with our industry-leading platform.