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HIGHLIGHTS: Often hospitals think a readmission rate of less than 10% as "low,"
but in fact returning patients represent a significant population even when recidivism
is in single digit percentages.
The hospital conducting this demonstration calculates its loss from a single
unreimbursed readmission within 31 days post discharge at an average of $30,000 - all
overhead and services included. Annual savings from SelfCareKitTM = 52-32 = 20 x $30,000 =
$600,000 - $25,728 (total cost of distributing SelfCareKitTM to all 1600 patients) =
$574,272 Net Savings. (Productivity gains and value of patient satisfaction
would be additional financial benefits.)
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