💰How One Week Can Save Your Hospital Millions

Devon Mobley

October 6, 2023

The Starting Place

Calvient is in the business of making the patient encounter as smooth and as comfortable as we can.

That’s why one of our first focuses for our Channels platform was Reminders. It acts as the starting point for alleviating this pain.

Hospitals and healthcare providers face immense pressure to reduce costs while improving patient care. One way to achieve this is by reducing no-shows and last-minute cancellations. Not only do these events reduce the number of patients seen, but they also incur significant costs.

With the industry mean of no-show being 18% it is a clear starting place for solving real, acute problems for healthcare systems: winning lost revenue.

Data is Power

Implementing Channels is simple and painless. But we start every healthcare system needs a baseline to understand the tangible success of an implementation.

That’s why we start every Channels client off with a free no-show / cancellation assessment. Even if this is something your organization currently does regularly, we are experienced in helping you dig in and understand that data, uncovering any hidden areas of costs or revenue loss in the process.

The Real Impact

The value of a time slot can range pretty widely - anywhere from $150 to $350 depending on specialty and services rendered.

If we take an average of $200 per slot , then a 100 provider practice is losing anywhere from $9 million to $17 million annually.

That means that every percentage of no-show that is lowered equates to close to $1 million of recovered annual revenue.

The Long Tail of No-Show

As healthcare systems must continually do more with less, no-shows are also killers because of their residual effects.

One study showed that even a single missed appointment would increase a patient’s likelihood of attrition by almost 70%.

Without affordable digital solutions to maintain engagement and clinical operations with patients, healthcare systems will continue to see compounding losses in revenue, in a time where every dollar matters.

How We Can Help

Let us assess your the real monetary value of your no-shows. It will take one week.

Every client we’ve had, we’ve reduced no-show rate by at least 1% - in most cases more.

That means actual millions of dollars of savings for your organization.