Falls and fall-related injuries may cost hospitals in excess of $2.4 billion annually due to changes in government reimbursements.
United States of America (Press Release) June 12, 2008 --
Vestibular Technologies and The ElderCare Companies Meld Best-In-Class Capabilities into Innovative Offering
Groundbreaking Hospital Fall Prevention Program Provides Premier Healthcare Alliance Hospitals the Highest Level of Evidence-Based Protection
NASHVILLE, June 10, 2008 – Falls and fall-related injuries may cost hospitals in excess of $2.4 billion annually due to changes in government reimbursements. Effective October 1, 2008, Medicare and many state Medicaid agencies will no longer reimburse hospitals for costs associated with treating injuries incurred by patients who fall while hospitalized. Nor will hospitals be allowed to pass on the costs to patients. A groundbreaking fall prevention program from Vestibular Technologies and the ElderCare Companies offers hospitals the diagnostic and prevention tools needed to avoid these injuries and their hefty price tags.
America is being confronted by a dramatic epidemic of geriatric falls – a situation in which 11 million elders fall each year, resulting in two to three million injuries, more than one million hospitalizations and 18,000 deaths annually. Falls account for at least 70 percent of hospital patient accidents.
The top predictors of future falls are gait abnormalities or balance disorders (the vast majority being vestibular in nature), which are believed to affect more than two-thirds of the elderly population and half of all adults. To combat this trend, the Vestibular-ElderCare strategic alliance marries proven fall prevention technologies and techniques to deliver the most robust, most effective hospital fall prevention program in the United States.
“This is a critical juncture for hospitals, which are already facing increased competition and skyrocketing costs. Now they have to deal with the possibility of unprecedented levels of uncompensated care,” says Bob Henderson, manager, Vestibular Technologies. “Managing their patients’ fall frequency is one area that hospitals can control, and it can really minimize the impact of the new Medicare ruling.”
Vestibular Technologies’ CAPS™ products and patented 60-second fall-risk identification process provide hospitals with definitive, comprehensive balance and fall risk screenings in real time. In contrast to currently available subjective techniques, CAPS provides objective, numerical data that can be stored, analyzed, shared and utilized.
The CAPS system can be used alone or as the underpinning of a comprehensive fall prevention program incorporating ElderCare’s proven set of evidence-based interventions. These techniques have been demonstrated to significantly reduce injurious falls and the costs of care for fall-related injuries. For several years, the two companies have worked together successfully: large-scale projects in Pennsylvania, Florida and New York were shown to reduce injurious falls by as much as two-thirds, nursing home admissions by 65 percent, and state costs by as much as 300 percent.
“This collaboration offers hospitals a solution that never before has been available – a comprehensive prevention program encompassing fall prediction and risk screening as well as fall interventions in one proven package,” said David C. Schwartz, founder and president of the ElderCare Companies, Inc.
Premier’s more than 2,000 hospital members receive preferred, tiered pricing for the Vestibular-ElderCare Hospital Fall Prevention Program, which includes:
• Initial quantification of an incoming patient’s intrinsic fall risk and assessment, treatment, and documentation of progress and outcomes through CAPS.
• Assessment of the physical/environmental conditions of a hospital that can contribute to patient falls, but which can usually be modified via low/no-cost measures
• Planning and implementation of hospital interventions to reduce falls and injuries
• Providing one or more full-time, on-site, function-specific nurse consultant(s) to provide and help implement a customized fall prevention training and deployment program
• Extensive fall prevention training for staff
• Usage of the latest videometric fall prevention technology and other technology/equipment
Interest among Premier member hospitals is on the rise – since Vestibular Technologies was awarded a three-year contract by Premier earlier this year, more than 750 hospitals have submitted their price activations for the company’s products. This is due in large part to the fall prevention program’s proven ability to positively impact a hospital’s income. CAPS decreases costs associated with non-covered hospital patient falls and lowers hospital workers’ compensation claims by identifying those employees at risk of falling so they can be assessed and treated. Furthermore, using CAPS can lead to increased reimbursements from subsequent Part B examinations, testing and therapies.
About Vestibular Technologies
Vestibular Technologies researches, develops and manufactures best-in-class medical devices for use in fall risk assessment and balance disorders. Its proprietary force platform solutions provide screening, assessment, diagnosis and treatment for balance issues that significantly impact patient safety and hospital costs. In less than 60 seconds, Vestibular Technologies’ patented process objectively quantifies a patient’s balance and risk of falling - whether as part of the admission process, in tracking therapy progress or in documenting treatment outcomes. The company’s specialized diagnostic testing, detailed reports and biofeedback rehabilitation exercise protocols work together to provide hospitals with an integrated set of comprehensive clinical tools. Vestibular Technologies is located at 205 County Road 128A, Suite 200 in Cheyenne, Wyoming, 82007. For more information, call (800) 752-6178, ext 1, or visit www.vestibtech.com.
About The ElderCare Companies
The ElderCare Companies, Inc. are an integrated group of for-profit corporations dedicated to improving the quality of life for senior citizens in America via innovative-but-proven healthcare initiatives. Together, this network has become America’s leading force for the reduction of geriatric fall-related injuries, which will improve and/or save thousands of lives and billions of dollars annually nationwide. The ElderCare Companies have developed a comprehensive array of effective, evidence-based, socio-medical and environmental interventions designed to reduce the frequency, severity and costs of falls among the elderly. The organization has provided geriatric consulting services for most of the major hospitals in the United States in the last 12 years. The ElderCare Companies are located at 1250 East Hallandale Beach Boulevard, Suite 806, in Hallendale Beach, Florida, 33009. For more information, call (866) 370-0377 or visit www.eldercarecompanies.com.
Media Contact:
Alicia Smith
Zarb Consulting
Alicia@zarbconsulting.com
(919) 522-7010
# # # #
Groundbreaking Hospital Fall Prevention Program Provides Premier Healthcare Alliance Hospitals the Highest Level of Evidence-Based Protection
NASHVILLE, June 10, 2008 – Falls and fall-related injuries may cost hospitals in excess of $2.4 billion annually due to changes in government reimbursements. Effective October 1, 2008, Medicare and many state Medicaid agencies will no longer reimburse hospitals for costs associated with treating injuries incurred by patients who fall while hospitalized. Nor will hospitals be allowed to pass on the costs to patients. A groundbreaking fall prevention program from Vestibular Technologies and the ElderCare Companies offers hospitals the diagnostic and prevention tools needed to avoid these injuries and their hefty price tags.
America is being confronted by a dramatic epidemic of geriatric falls – a situation in which 11 million elders fall each year, resulting in two to three million injuries, more than one million hospitalizations and 18,000 deaths annually. Falls account for at least 70 percent of hospital patient accidents.
The top predictors of future falls are gait abnormalities or balance disorders (the vast majority being vestibular in nature), which are believed to affect more than two-thirds of the elderly population and half of all adults. To combat this trend, the Vestibular-ElderCare strategic alliance marries proven fall prevention technologies and techniques to deliver the most robust, most effective hospital fall prevention program in the United States.
“This is a critical juncture for hospitals, which are already facing increased competition and skyrocketing costs. Now they have to deal with the possibility of unprecedented levels of uncompensated care,” says Bob Henderson, manager, Vestibular Technologies. “Managing their patients’ fall frequency is one area that hospitals can control, and it can really minimize the impact of the new Medicare ruling.”
Vestibular Technologies’ CAPS™ products and patented 60-second fall-risk identification process provide hospitals with definitive, comprehensive balance and fall risk screenings in real time. In contrast to currently available subjective techniques, CAPS provides objective, numerical data that can be stored, analyzed, shared and utilized.
The CAPS system can be used alone or as the underpinning of a comprehensive fall prevention program incorporating ElderCare’s proven set of evidence-based interventions. These techniques have been demonstrated to significantly reduce injurious falls and the costs of care for fall-related injuries. For several years, the two companies have worked together successfully: large-scale projects in Pennsylvania, Florida and New York were shown to reduce injurious falls by as much as two-thirds, nursing home admissions by 65 percent, and state costs by as much as 300 percent.
“This collaboration offers hospitals a solution that never before has been available – a comprehensive prevention program encompassing fall prediction and risk screening as well as fall interventions in one proven package,” said David C. Schwartz, founder and president of the ElderCare Companies, Inc.
Premier’s more than 2,000 hospital members receive preferred, tiered pricing for the Vestibular-ElderCare Hospital Fall Prevention Program, which includes:
• Initial quantification of an incoming patient’s intrinsic fall risk and assessment, treatment, and documentation of progress and outcomes through CAPS.
• Assessment of the physical/environmental conditions of a hospital that can contribute to patient falls, but which can usually be modified via low/no-cost measures
• Planning and implementation of hospital interventions to reduce falls and injuries
• Providing one or more full-time, on-site, function-specific nurse consultant(s) to provide and help implement a customized fall prevention training and deployment program
• Extensive fall prevention training for staff
• Usage of the latest videometric fall prevention technology and other technology/equipment
Interest among Premier member hospitals is on the rise – since Vestibular Technologies was awarded a three-year contract by Premier earlier this year, more than 750 hospitals have submitted their price activations for the company’s products. This is due in large part to the fall prevention program’s proven ability to positively impact a hospital’s income. CAPS decreases costs associated with non-covered hospital patient falls and lowers hospital workers’ compensation claims by identifying those employees at risk of falling so they can be assessed and treated. Furthermore, using CAPS can lead to increased reimbursements from subsequent Part B examinations, testing and therapies.
About Vestibular Technologies
Vestibular Technologies researches, develops and manufactures best-in-class medical devices for use in fall risk assessment and balance disorders. Its proprietary force platform solutions provide screening, assessment, diagnosis and treatment for balance issues that significantly impact patient safety and hospital costs. In less than 60 seconds, Vestibular Technologies’ patented process objectively quantifies a patient’s balance and risk of falling - whether as part of the admission process, in tracking therapy progress or in documenting treatment outcomes. The company’s specialized diagnostic testing, detailed reports and biofeedback rehabilitation exercise protocols work together to provide hospitals with an integrated set of comprehensive clinical tools. Vestibular Technologies is located at 205 County Road 128A, Suite 200 in Cheyenne, Wyoming, 82007. For more information, call (800) 752-6178, ext 1, or visit www.vestibtech.com.
About The ElderCare Companies
The ElderCare Companies, Inc. are an integrated group of for-profit corporations dedicated to improving the quality of life for senior citizens in America via innovative-but-proven healthcare initiatives. Together, this network has become America’s leading force for the reduction of geriatric fall-related injuries, which will improve and/or save thousands of lives and billions of dollars annually nationwide. The ElderCare Companies have developed a comprehensive array of effective, evidence-based, socio-medical and environmental interventions designed to reduce the frequency, severity and costs of falls among the elderly. The organization has provided geriatric consulting services for most of the major hospitals in the United States in the last 12 years. The ElderCare Companies are located at 1250 East Hallandale Beach Boulevard, Suite 806, in Hallendale Beach, Florida, 33009. For more information, call (866) 370-0377 or visit www.eldercarecompanies.com.
Media Contact:
Alicia Smith
Zarb Consulting
Alicia@zarbconsulting.com
(919) 522-7010
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