Bodhi Health is helping healthcare and dental care providers in 2 key areas
The Challenge facing Healthcare and Dental care Providers
Large hospital chains, healthcare providers and dental care providers today face a tough task of delivering the highest standard of care to their patients and at the same time remain profitable.
The 2 key metrics that every hospital needs to track are:
- Average revenue per occupied bed (ARPOB)
- Average length of stay (ALOS) (of patient)
The ‘Bed’ is the only scarce commodity and increasing number of beds without improving efficiency would mean sustaining losses. The only way a hospital can maximise Return on Investment on each bed is by increasing ARPOB & reducing ALOS.
Reducing the risks of healthcare related infections and medication errors
The two critical factors impacting both the metrics mentioned above are:
Healthcare associated infections (HCAI)
HCAI are acquired by patients during their stay in hospitals. As per Lancet report 2011, 15.5 in every 100 patients in India acquire HCAI. It is estimated that every HCAI incidence increases the length of stay of a patient from 5 to 12 days costing the hospital an average of INR 1,20,000 per case.
5.2 million medication errors happen in India annually as per a recent Harvard study by Prof Jha in 2016.Most of the errors occur due to incorrect drug prescription or administration like wrong timing, dosage, omission etc. This is also a major cause of mortality among patients and can lead to litigation against hospitals.
Lack of sufficiently trained staff, especially nurses and technicians is a major cause of both the above-mentioned factors. This is one of the reasons why National Accreditation Board for Hospitals (NABH) requires all hospitals irrespective of their size to meet a certain standard of quality.