Posted Wednesday, July 26, 2023
Keeping a close eye on quality metrics and service costs is a key for hospices wanting sustainable value-based payment pathways.
Quality and cost data are important pieces to bring to negotiating tables with payers in value-based reimbursement, according to Joe Calcutt, CFO of Liberty Healthcare Management.
Hospices that can financially and operationally weather changes in an evolving reimbursement climate have a leg up on competitors in the value-based landscape, Calcutt said at the National Association of Home Care & Hospice’s (NAHC) Financial Management Conference in New Orleans.
“You’ve got to have both finance and you’ve got to have your operations at the table, because you’ve got to figure it out together,” Calcutt said during the conference. “It takes everybody to make this work nowadays. If you really want to build relationships with managed care players, they need to understand you and you need to understand what they’re doing. You’re trying to get into something where it works for both of you. If you get in a relationship and you understand them, then you’ve got a chance to craft something they’re interested in and you aren’t just a commodity on the other side.
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