Resolving Revenue and Expense Growth


One of the biggest concerns for hospitals if balancing revenue while expenses grow. More patients are being admitted, which places an undue strain on nurses and other staff. In order to create a balance where hospitals are receiving revenue while allowing staff to provide the best quality of care, many facilities are turning to emerging technologies in the field of healthcare teleprofessionals.

Growing Expenses for Hospitals

The projections for hospital expenses for 2019 alone are over $1 trillion. These expenses will continue to grow as more patients are admitted to facilities. Currently, almost 800,000 beds are staffed, and there are not enough nurses to ensure the highest care is being given, or that patients and loved ones are being educated properly. Recruiting more nurses seems like the obvious solution, but with a small talent pool and tight finances, many facilities are having trouble bridging the gap. No hospital can guarantee an influx of qualified staff to overcome growing expenses, and taking on the number of staff necessary to meet the needs of patients and hospitals alike can easily overshadow the revenue coming into facilities to maintain adequate staff as well as other overhead expenses.

Teleprofessionals to the Rescue

Telenurses and teleprofessionals provide a low-cost alternative to resolving growing expenses while allowing facilities to retain more revenue. Teleprofessionals in the healthcare sector provide everything from monitoring beds to giving education to patients and loved ones without placing a severe strain on finances. Telenursing stations provide around the clock monitoring for bed stays and can be integrated seamlessly to alleviate the burden on both nurses and the hospital’s budget, in order to streamline the continuum of care without sacrificing any of the quality. Additionally, Teleprofessionals help to curb drug diversion while increasing overall patient satisfaction. In many hospitals and other facilities, teleprofessionals have been implemented seamlessly to eliminate staff shortages, increase metrics across the board, and greatly reduce overall expenses.

Learn More about Resolving Revenue and Expense Growth

BANYAN is the leader in teleprofessionals and telenursing integration at hospitals across the United States. Our team will work with your facility to assess the expenses and savings from deploying our systems, as well as creating a strategy to integrate our teleprofessional systems with your current staff to streamline operational tasks and ensure a smooth transition. To learn more about striking the correct balance between revenue and expense growth, contact BANYAN today.