The US healthcare system, unfortunately, has several problems ailing it. As a result, the hospitals and health systems face a plethora of issues on a regular basis, and that was even before the pandemic. However, after the pandemic took the US (as well as the rest of the world) by storm, things are worse than ever. Healthcare providers are facing huge losses as a direct result of the novel coronavirus – leading many to shut down facilities and lay off employees. Let’s take a look at the consequences of the pandemic on hospitals, some recent developments that will hamper them further, and how a robust patient identification procedure can help them survive the financial strain and enhance patient safety.

The consequences of COVID-19

Besides all of the existing problems that were being faced by hospitals and health systems, the pandemic led to even more issues. As soon as the novel virus hit individuals, caregivers had to reprioritize all of their assets so that they can serve the COVID-19 patients. This resulted in the cancellation of elective procedures and regular appointments, creating an unprecedented financial strain on even the strongest of hospitals. The cancellation of regular operations, drastically lower inpatient volumes, and the cost of crucial materials such as PPE were mainly to blame.

Unfortunately, that’s not where the bad news ends for healthcare providers, there’s more – read on.

Underpayments and penalties for healthcare providers

While it was announced that the caregivers treating uninsured COVID-19 patients would be receiving reimbursements, they received far lower than what was announced. This occurred because the affected caregivers did not meet all the prerequisites for receiving the reimbursements. However, bad news waits for half the hospitals.

It was announced recently that half the hospitals will be penalized because patient readmissions were far above the acceptable rate. Many healthcare providers rely on these reimbursements, and if they receive such payment cuts, then they will be in dangerous waters.

As previously mentioned, many healthcare providers are already closing down departments, laying employees off, or are even shutting their doors permanently because of financial issues COVID-19 brought. At this point, healthcare providers really need to ensure that they cut down losses by eliminating crucial costs. One-way healthcare providers can do it is by preventing patient misidentification. Let’s take a look at all the benefits of an effective patient identification procedure.

4 Benefits of a robust patient identification procedure

Elimination of patient identification errors

One of the most overlooked issues within hospitals is patient identification errors. While many caregivers downplay the number, its effects are quite pronounced. An effective patient identification system outright eliminates patient misidentification, reducing the costs of the associated issues – let’s see what they are.

Enhances patient safety

Patient misidentification leads to wrong medical procedures being performed, putting their safety at risk. It’s quite natural – when a wrong medical record is used, there are bound to be undesirable results. Using an effective patient identification platform can prevent medical errors and enhance patient safety in the process.

Reduces denied claims

Most of the denied claims are due to billing and coding errors that can be traced back to the wrong medical record used. For instance, a patient is identified with one medical record before scheduling surgery. However, on the day of the procedure, an entirely different medical record, or even a duplicate one, might be used during the entire process.

When the claim is sent to the insurance company, they see that the medical records do not match, leading to the claim being denied. Moreover, hospitals even allocate FTEs (full-time equivalents) in order to fix these errors. However, unless these are fixed right from the start, that is, during registration, it will be an endless cycle, hampering productivity and increasing losses.

Healthcare providers lose millions of dollars every year due to denied claims, and most of these can be prevented only if an effective patient identification procedure is used. By ensuring accurate patient identification, billing & coding errors are reduced significantly, leading to revenue cycle improvements and freeing up valuable resources.

Protects patient data

Patient misidentification leads to patient data corruption – one patient’s data gets mixed up with someone else’s information. This is extremely dangerous, as these lead to entirely wrong procedures, wrong medication, resulting in delays in treatment, compromises healthcare outcomes, and may even result in deaths. All of these stems from something as simple as patient misidentification.

Thus, by having a robust patient identification solution in place, patient data can be protected from being tampered with – enhancing patient safety and reducing the likelihood of unwanted incidents.

Incorporate an effective solution into your patient identification procedure

There are many patient identification solutions available, but given the pandemic, the most feasible one for any given healthcare provider would be a touchless platform. Choosing one that can identify right from appointment scheduling and at any touchpoint will be beneficial in the long run. These lock patients’ medical records with their photos and ensure that patient data stays protected across the care continuum – enhancing patient safety, reducing denied claims, and preventing medical identity theft in real-time. Moreover, patients are not required to touch any foreign object when using such solutions, making it a lifesaver during and after the pandemic.