POSTED ON MONDAY, August 3, 2020
According to new research from Trella Health, a patient who enters hospice during their last three months of life, save an average of $14,000. They used data from over 90,000 patients who died between July 2018 and June 2019, across all healthcare setting. They then broke the patients into four groups based on when they entered hospice.
“There is a strong correlation between hospice length of stay and reduced cost and utilization of the hospital setting. It’s not just that hospice provides value but provides significantly more value to the patients that receive hospice earlier,” Tyler Rardin, vice president of sales for Trella Health, said. “From a cost standpoint this year, that dramatic difference in spend for patients that get into hospice versus those that don’t in the last months of life shows that hospice is an incredibly valuable service.”
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