Tammy Worth
Instead of taking on hundreds of changes, physician groups often only have the bandwidth to implement a few meaningful and targeted changes.
While the practice has been optional so far, in early 2017 providers must submit four of their inpatient quality reporting measures electronically, dubbed eCQM, or they will receive a 25 percent reduction in their Centers for Medicare and Medicaid Services market basket update in 2018.
One system may be a challenge for some organizations, but it is imperative that clinical and revenue sides align, experts say.
With revenue cycle staff in big demand, healthcare providers are scrambling to find candidates with this specialized type of experience before initiatives like ICD-10 and value-based payments put too much pressure on cash flow.
As the healthcare industry moves from volume to value, tech vendors including Cerner, Craneware, Premier Revenue Solutions LLC and ZirMed Inc. are attempting to fill the need in the market by working with hospitals to integrate their revenue, clinical and operational systems.
While a proposed final rule for accountable care organizations taking part in the Medicare Shared Savings Program showed officials may be listening to concerns, many participating healthcare providers many participating providers say it doesn't go far enough.
Knowing when it's time to bring in outside help to improve the business is one thing, but with so many consultants to choose from, make sure you know what your organization wants.
Perhaps the biggest value-based challenge on the finance side is the lack of a single set of metrics by which to gauge quality.
All healthcare subsectors -- services, IT, medical devices and life sciences -- are benefiting from open equity and demand for products and services.
The way hospitals create their annual budgets could be changing amid reforms, as some are beginning to see the benefits of leaning on business intelligence during the process.