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Understanding the cost of containment can be used to help promote quality improvement within the health care organization. According to Bill Rumsey cost containment is the business practice of maintaining expense levels to cut wasteful and unnecessary spending and improve profitability without risking long term damage and detriment to the company. So what are some cost containment strategies? According to first stop health some strategies include claims analysis, telemedicine or virtual care, or high deductable health plans. These are all tools that can be used to promote quality improvement.
In telemedicine it can offer low cost and convience to the customer and provide the care they need without leaving their home. It also helps insurers by limiting high cost care like urgent cares and hospital visits. In claims analysis care can be looked at to identify chronic illnesses and comorbidities to develop patient care plans and case management strategies to lower the cost of these chronic illness. That way you are looking more into the medium to long term to manage costs. Do you think it is easier said than done to implement these strategies. In my opinion it takes alot of moving parts to implement but once it is it is cost effective and promotes quality.
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