Virtual Care & Services

DayToDay Platform: A Significant Financial Model for Hospitals

Prem Sharma
March 21, 2021

DayToDay is a highly impactful tool for patients in their recovery journey, but it is also beneficial for hospitals. There is a significant ROI for hospitals that use DayToDay for various reasons, such as decreased re-infection rates, better hospital reputation, and so on. This is true for all hospitals and models of payment, including the two main ones - fee for service payment and value-based care payment.

Fee For Service Model

In the fee for service (FFS) model, patients have to pay for any and every operation they have. With this model, doctors have an incentive to perform more procedures on patients because they know that patients usually have insurance plans that will pay for everything. However, despite this incentive, doctors typically do not want patients to constantly return after their procedures. Having patients return multiple times due to reinfection is both bad for doctors’ reputations and very high-risk.

Value-Based Care Model

Value-based care (VBC), on the other hand, occurs when the doctor and patient agree on a fixed price for a procedure. For example, a patient may agree to pay a doctor $5,000 for cardiac surgery. In this situation, the doctor is forced to perform the cardiac surgery - as well as any necessary, follow-up procedures - for the agreed-upon $5,000. Naturally, the ideal situation for doctors in a value-based care model is for their patients to arrive at their procedure well-prepared, stay in the hospital for the shortest amount of time, and return home with all the tools needed for a smooth recovery.

Benefits DayToDay Brings to Both Models

Whether a patient pays in a fee for service or value-based care model, hospitals and doctors will always benefit from having their patients heal properly. This alone should provide hospitals and doctors with an added incentive to put the necessary precautions and tools in place to help their patients heal as quickly and as well as possible.

DayToDay is beneficial for both payment models, but it is especially beneficial in the value-based care model. Because doctors make no extra money for additional procedures, they are particularly incentivized to help their patients heal quickly. DayToDay works alongside patients to ensure that they are prepared for their procedure, that their risks are minimized, and that they know exactly what they need to do to make a full recovery after they go back home. DayToDay also acts as a round-the-clock resource that constantly checks in on patients and makes sure that they are healing properly. The constant engagement between DayToDay’s skilled medical care coaches and patients helps patients identify and treat smaller issues before they turn into larger problems.

ROI for Hospitals

One of the main benefits that hospitals gain from using DayToDay is the ability to offer patients a seamless transition of care. Patients without DayToDay typically go from having hundreds of years of aggregate medical experience around them in the hospital to having no care or medical experience when they leave. DayToDay removes this problem and allows patients to enjoy a seamless transition of care between the hospital and their homes.

Another benefit that DayToDay brings hospitals is it allows hospitals to offer all of their patients the same detailed, personalized care experience. DayToDay works with each patient to come up with a care plan that is best suited to their needs, instead of offering a one-size-fits-all care plan. This creates brand loyalty and ensures that there is a standardized approach to the care patients receive.

Hospitals also benefit from using DayToDay because DayToDay helps them build stronger relationships with their patients, which in turn, provides them with a better reputation in patients’ minds. Patients then go on to interact with their family and friends, most of whom have similar habits, profiles, age groups, etc., and talk about their positive experience with the hospital. In this way, DayToDay essentially helps hospitals gain free and credible ‘moment of truth’ marketing through word of mouth by happy patients. In fact, DayToDay was able to nearly double the NPS score (from patients being managed by DayToDay) of a hospital that DayToDay was working with in only three months.

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Overall, DayToDay allows hospitals to engage their patients at a deeper level. This added engagement then allows hospitals to provide additional services such as rehabilitation, as well as reduce the number of unnecessary problems that patients may run into.

ROI for Doctors

The ROI of using DayToDay is different for doctors than it is for hospitals. DayToDay helps doctors receive much higher compliance by patients, but it also gives them access to DayToDay’s advanced technological capabilities and tools. For example, DayToDay allows doctors to have better data research and analytics, and it also automates all of their assessments. This technology and information allows doctors to also play a part in monitoring their patients remotely, which is something that would not be possible for them to do otherwise.

Overall, hospitals lose a significant amount of money on dealing with infections. In fact, surgical site infections (SSI) are the primary reason why patients return to the hospital after surgical procedures. Each SSI ranges in cost from $25,000 to $90,000+ and in total, SSI’s end up costing hospitals anywhere from $3 billion to $10 billion every year. They mainly occur when patients begin developing complications in the time between hospital discharge and their follow-up appointment. Because patients often aren’t able to identify early signs of complications, the infections may already be severe by the follow-up appointment. This may then require the patient to return to the hospital for an additional inpatient stay.

Benefits of DayToDay Before a Procedure

There are several benefits that DayToDay brings to hospitals and doctors both before and after a procedure. For both FFS and VBC payment models, DayToDay helps reduce the inpatient stay and recovery time, which decreases the cost of the last day of stay. Doctors using the FFS payment model also benefit from the shorter inpatient stay and recovery period because it allows them to open up hospital capacity faster. For VBC patients, the faster post-discharge recovery that DayToDay brings also allows for a reduced unreimbursed cost of care.

Benefits of DayToDay After a Procedure

After a procedure, DayToDay helps hospitals improve the levels of satisfaction from patients and their families, which increases the patient volume/contribution margin. DayToDay also helps reduce the risk of infections, which in turn, reduces the unreimbursed cost of care for both FFS and VBC patients. DayToDay also provides ongoing care to patients after their procedure.

How Hospitals Operate Without DayToDay

Hospitals without DayToDay currently operate in a simple three-step procedure. First, there is the beginning preparation phase, which only lasts around 10 days and consists of the surgery consultation, pre-admissions tests, and admission day preparation. This preparation can include everything from doing strengthening exercises to stopping certain medications. However, patients receive limited support in this. Then, there is the actual procedure, which including the hospital recovery time, lasts for about three days. Finally, there is the post-discharge care step. This step currently consists only of a follow-up appointment on the hospital’s side, even though the patient also needs to figure out how to return to their normal life, find physical therapy exercises, start taking new medications, and so on. At this point, the patient may be feeling extremely overwhelmed, hopeless, and alone.

In hospitals without DayToDay, doctors may also feel strong frustration and powerlessness. Because they have such limited interaction with the patient, they lack a lot of information that would help them treat the patient better. They know that there is much more they could be doing for the patient if only they had more time and more information.

How Hospitals Operate With DayToDay

Instead of following a three-step procedure, hospitals with DayToDay follow a five-step procedure - 1) preparation, 2) procedure, 3) post-discharge care, 4) rehabilitation, and 5) ongoing care support. With DayToDay, patients receive an entire virtual care team consisting of a care coach, care manager, psychologist, pharmacist, therapist, and dietician. This care team not only walks patients through exactly what they need to do, but they also help patients understand the how and the why surrounding the things they need to do. The care team closely monitors the patient’s recovery process, which allows them to catch concerning issues early on, as well as accumulate extensive amounts of information and data that they can provide to the patient’s doctor during follow-up appointments.

On top of that, DayToDay keeps patients’ families well-informed of how the patient is doing, how they can support the patient, and so on. This helps patients’ families feel like active contributors in the patients’ recovery process, and it helps patients feel more supported in their recovery.

DayToDay already offers immense value to hospitals, but they are continuing to recognize more value adds in the patient care process and will continue to help hospitals recognize an even bigger ROI in the future. To start working with DayToDay today, head to daytoday.health.

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