The Value of Advance Care Planning for Payors
Empower Hope integrates advanced care planning into clinical workflows, helping payors improve member satisfaction while reducing costs through appropriate care.
For Payors: Clinical Value With Financial Impact
Advanced care planning is a proactive approach that not only improves patient outcomes but also yields substantial cost savings. By reducing unnecessary hospitalizations and interventions, payors can see a reduction in per member per month (PMPM) expenses. Empower Hope’s platform makes it easy for your members to document their healthcare wishes, ensuring that care is aligned with their values and preferences
Why Empower Hope is Essential for Payors
Empower Hope offers a comprehensive solution designed to meet the needs of payors. Our platform integrates seamlessly with healthcare systems, ensuring that advanced care plans are accessible and actionable when needed. Here’s why Empower Hope is the preferred choice for payors:
Cost Savings
Studies have shown that advanced care planning can lead to significant cost reductions. According to research published in Health Affairs, advanced care planning can reduce end-of-life costs by up to 36%.
Improved Member Satisfaction
Empower Hope ensures that members’ healthcare preferences are respected, leading to higher satisfaction and trust in their health plan.
Regulatory Compliance
Our platform helps payors stay compliant with healthcare regulations related to advanced care planning and end-of-life care.
Take the first step towards enhancing your patient care with Empower Hope.
Sign up today to integrate advance care planning into your practice. It’s your commitment to patient-centered care and informed decision-making. Empower your practice with Empower Hope.
Payor Cost Benefits
Good for Patients:
- Comfort-oriented POLST forms in nursing home residents resulted in 56 fewer days in the hospital and 22 fewer days in the ICU per 100 person-years compared to patients without a POLST form *1
- Reduced ICU and hospital stay for patients with comfort-oriented preferences at the end of life:
- The majority of patients have comfort-oriented preferences
- Hospital stays can be $2000-$5000/day with ICU stays from $10,000-$20,000/day
- Even a few day reduction in unwanted care at the end of life leads to significant savings
Payor Cost Benefits
Good for Health Systems and Payors:
- An Advance Care Planning pilot led to a $994 per-member-per-month lower cost, with a total of $13,916 per patient *2
- An analysis of 2022 Decedents of CMS claims showed that patients who had advance care planning conversations at all, and especially more than 30 days before death had decreased utilization and over $20,000 per patient saved in total cost of care.
How It Works for Payors
Implementing advanced care planning with Empower Hope is straightforward and effective. Our platform is designed to fit seamlessly into the existing workflows of healthcare providers and payors:
1. Enroll Members
asily invite your members to create their advanced care plans through our secure platform.
2. Access Plans Anytime
Ensure that advanced care plans are readily accessible to healthcare providers, enabling informed decision-making.
3. Facilitate Conversations
Use our guided prompts and resources to facilitate meaningful conversations between members and their healthcare providers about their healthcare wishes.
4. Monitor and Report
Track the adoption and impact of advanced care planning across your member base, with detailed analytics and reporting features.
Empower Hope simplifies the implementation of advanced care planning, making it an integral part of your cost-management strategy.
Importance of Advance Directives Throughout Members’ Lives
Young Members (Ages 18-40)
Advance Directives can significantly reduce unnecessary medical interventions and associated costs. Payors can promote proactive healthcare planning and cost savings by encouraging young members to complete these documents.
Middle-Aged Members (Ages 40-65)
For members managing chronic conditions, updated Advance Directives ensure that treatment plans align with their current health status, reducing the need for expensive emergency interventions and hospitalizations.
Senior Members (65 and Older)
Advance Directives are crucial for senior members, helping to avoid costly and unwanted medical treatments. This can lead to substantial savings on end-of-life care, benefiting both the members and the healthcare system.
Understanding Advance Directives
Advance Directives provide a clear outline of a member’s healthcare preferences, which can lead to more efficient and cost-effective care. Key components include:
- Living Will: Specifies desired medical treatments.
- Medical Power of Attorney: Names a person to make healthcare decisions on the member’s behalf.
Notarization is often required, and Empower Hope’s 24/7 online notarization service streamlines this process, making it easier for members to complete and maintain their directives.