Ongoing research from TransUnion Healthcare (NYSE: TRU) indicates
overall hospital visit volumes continue to slowly recover, though
hospital visit volumes remain well below the numbers observed prior
to the pandemic. This sluggish recovery, which saw emergency
department and inpatient volume recovery outpaced by outpatient
visits, raises concerns that patients who need emergency care may
be avoiding hospital settings due to COVID-19 fears.
In fact, an April Gallup Panel survey found 83% of consumers are
moderately-to-very concerned about exposure to COVID-19 at a
doctor’s office or hospital.
TransUnion Healthcare’s latest analysis reveals outpatient
hospital visits bottomed out during the week April 5-11, down 64%
from pre-COVID-19 volumes.* Since then, outpatient visits have
recovered though they were still down 31% during the week of May
10-16.
When looking at emergency department and inpatient hospital
visits, the research shows visits in both treatment settings
continue to trend upward, though at a slower rate than outpatient
visit volumes. Emergency department visits recovered 22% of lost
volume from April 5-11 through May 10-16 and are now down 40%, and
inpatient volumes show a 35% return during this time, and are down
20% compared to pre-COVID-19 volumes.
“As many hospitals resume elective procedures, we’re seeing
positive signs of recovery for outpatient visit volumes. However,
recovery for emergency department and inpatient is lagging, which
may indicate that patients are deferring necessary care,” said
David Wojczynski, President of TransUnion Healthcare. “These
deferrals will have implications for both patients and providers –
high-acuity and chronically-ill patients risk waiting too long to
seek care, and a continued reduction in visit volumes will further
amplify existing financial challenges for hospitals.”
For hospital visits overall (outpatient, emergency department
and inpatient settings), the updated analysis of 500+ hospitals
across the United States shows 20-40% declines in visit volumes
between the weeks of March 1-7 and May 10-16 compared to
pre-COVID-19 volumes – an upward trend overall from the 33-62%
declines between the weeks of March 1-7 and April 12-18.
One component of the CARES Act provided support for hospitals
and health systems through more than $100 billion in Medicare
Advance Payments – which is a loan against future Medicare
reimbursement. However, the slower recovery illustrated by
TransUnion Healthcare’s research shows patient volumes may not be
restored to a level that can both sustain operational and clinical
functions and repay the aforementioned loans later this year. With
this in mind, on-going assessment and development of holistic
patient engagement and revenue recovery strategies will be
imperative in the coming months.
“Considering the uncertainties ahead, it is more important than
ever to thoughtfully re-engage with patients and communicate
proactive actions health systems are taking to make sure patients
feel confident and safe to seek care in hospital settings,” said
Wojczynski.
Re-engagement considerations for providers across
generations
In the time since TransUnion Healthcare observed the lowest
visit volume levels, Baby Boomers (born between 1944 and 1964) and
Silent Generation (born before 1944) continue to lead the way,
recovering 50% and 47% of the lost volume respectively, from the
weeks of April 5-11 to May 10-16. Millennial (born between 1980 and
1994) and Gen Z (born between 1995 and 2002) hospital visits
recovered 44% and 43% of the volume decline during the same
timeframe.
“Our ongoing research provides generational insights into the
patients that are seeking care in the wake of COVID-19, allowing
providers to tailor their re-engagement efforts and build trust
with patients,” said James Bohnsack, senior vice president &
chief strategy officer of TransUnion Healthcare. “We can expect to
see the lingering effects of the pandemic on hospitals and
healthcare systems for some time, and these insights are important
considerations to keep in mind as providers evaluate options to
re-engage patients to ensure they receive necessary care.”
Following are generational trends specific to emergency,
outpatient and inpatient treatment settings, as shown by TransUnion
Healthcare’s analysis:
- Emergency Department: The latest analysis
found older generations are returning to emergency departments more
quickly than Millennial and Gen Z patients. Baby Boomers and Silent
Generation experienced 31% and 32% recovery of emergency department
volumes lost as a result of COVID-19 during the weeks of April 5-11
to May 10-16, whereas Gen Z recovered 25% of lost volume and
Millennials saw a 21% recovery of volumes lost.
- Outpatient: Millennial and Gen Z outpatient
visit volumes are showing encouraging trends, recovering 55% and
58% of volume lost from April 5-11 through May 10-16, respectively,
slightly outpacing older generations. Baby Boomers and Silent
Generation visit volumes also continued to rise, recovering 53% and
52% of lost volume respectively.
- Inpatient: From the weeks of April 5-11
through May 10-16, younger generations also drove the positive
trends in inpatient visit volumes, with Millennials experiencing a
72% recovery of volumes and Gen Z recovering 56%. Meanwhile, Baby
Boomers recovered 32% of lost inpatient volume and Silent
Generation saw a 22% recovery of lost volume. It should be noted
that Baby Boomers and Silent Generation also experienced the
largest decline from March 1-7 and April 5-11 (38% and 41%,
respectively), whereas Millennials and Gen Z volumes saw smaller
declines (19% and 17%, respectively).
Noting the generational differences in behaviors, providers
should consider how these trends impact patient re-engagement
efforts. For example, the latest analysis indicates health systems
may have greater success scheduling appointments by checking in
first with younger generations for both outpatient and inpatient
procedures while also ensuring they communicate with all patients
who may have deferred necessary care.
“Looking to the months ahead, hospitals and health systems are
understandably concerned about restoring volumes. At the same time,
patients are looking to their providers for answers during this
period of uncertainty,” said Bohnsack. “It is incumbent on the
industry to develop holistic strategies in an effort to both
communicate guidance and mitigate financial challenges.”
For strategies on how to address financial challenges in the
wake of COVID-19 as well as additional information from TransUnion
Healthcare on the impact of COVID-19 on the healthcare industry,
visit transunion.com/healthcare-covid-19.
*TransUnion Healthcare defines pre-COVID-19 volumes as the
average weekly visits measured during the first 8 full weeks of the
year, from the weeks of January 5-11 through February 23-29.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that
makes trust possible in the modern economy. We do this by providing
a comprehensive picture of each person so they can be reliably and
safely represented in the marketplace. As a result, businesses and
consumers can transact with confidence and achieve great things. We
call this Information for Good.®
TransUnion Healthcare, a wholly owned subsidiary of TransUnion,
makes mutual trust possible between patients, providers, and payers
by helping them navigate payment uncertainty. Our Revenue
Protection® solutions leverage comprehensive data, accurate
insights and industry expertise to engage patients early, ensure
earned revenue gets paid and optimize payment strategies.
TransUnion Healthcare helps over 1,850 hospitals and 550,000
physicians collectively recover more than $1.2 billion annually in
revenue.
A leading presence in more than 30 countries across five
continents, TransUnion provides solutions that help create economic
opportunity, great experiences and personal empowerment for
hundreds of millions of people.
http://www.transunionhealthcare.com
Contact |
Dave
BlumbergTransUnion |
E-mail |
david.blumberg@transunion.com |
Telephone |
312-972-6646 |
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