Considering transitioning to a value-based payment model? You’re going to need to make some fundamental tweaks to things like your workflow and existing processes. With a few simple tips, the transition should help to ease the process and growing pains.
Create a fusion between strategy and plan. Devise initiatives that are aimed at value-based reimbursement. You may wish to focus primarily on creating a solid foundation of trust between payers as well as boosting the effectiveness of your revenue cycle management and taking into account modern technology to facilitate working with data.
Make sure you have a strong team. When it comes to value-based reimbursement, the talent you’ve assembled is going to be responsible for overseeing key components such as technology, customer service, and engagement. Hence, make sure your marketing efforts and your team are comprised of the best talent and strategies.
Concentrate on rolling out your strategy. To transition towards value-based reimbursement, it is essential that your team fully comprehends how their roles contribute towards providing value for payers, the organization, and consumers. Metrics should be monitored on a regular basis to keep track of whether goals are being achieved within the pre-established timeframe.
This update is by Medical Accounts Systems, a full-service healthcare revenue cycle management company providing a number of services including insurance follow up and managed care disputes, physician reimbursement, hospital extended business office services, and more. For additional information on our services or for any questions you may have on topics such as medical debt collection, please call 877-759-6315.