Posted on Friday, June 30, 2017 2:28 PM
Despite the current uncertainties regarding health care legislation, value-based payment programs (VBP) are here and likely to grow. One recent study found that nearly two thirds of providers in some type of integrated employment model (integrated health networks, physician hospital organizations, ACOs and large medical groups) are primarily based through alternative payment models.
HHS established a goal of 90% of payments to VBP by 2018. Private payors are starting to follow the same path. While slow to penetrate to the post-acute sector, their referral partners are most likely already involved in one or more programs. Home health and hospice providers should take steps to educate themselves about the models, develop analytic capacity to assess performance, and develop the programs necessary to meaningfully participate with referral partners in their VBP programs.
You may not know how your performance compares to competitors, but your hospital and physician partners do. There is ample evidence of the quality and cost effectiveness of community based care. It’s time to start the conversation. Can you provide a realistic substitute for SNF care total joints? How can you assist physician practices and hospitals in the management of patients with chronic diseases?
Like it or not, the change is coming and it’s time for action. Corridor can help.
Contact us today to learn more.
Written by Robbin Boyatt, Corridor’s Vice President of Revenue Management Services.
Corridor is the nation’s preferred partner and trusted business advisor to home health and hospice providers, providing quality services and impactful results for 30 years. Focusing on key operational, regulatory and financial challenges, Corridor delivering industry-unique solutions and deep expertise in coding, clinical documentation review, compliance, billing and collections , consulting and provider staff education . At Corridor, we make the business of caring for people Better! For the most important industry updates and news that impacts home health and hospice, please make sure to sign up for our weekly newsletter to receive the latest up-to-date industry information direct to your inbox!
For additional information, please contact Corridor at 1-866-263-3795.