Provider Compensation & Contracting: A Look Back at 2021
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Over 2021 we published several action-oriented papers and articles to help our readers address their compensation-related challenges and pain points. Explore more about top provider compensation & contract management white papers & case study.
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Executive population health primer
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http://www.modernhealthcare.com/article/20140514/SPONSORED/305149926/webinar-turning-insight-into-action-analytics-effective-denials
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Want to better understand what's driving value-based clinical and financial transformation? And, what you need to do to start planning for implementation?
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Join us to learn how leaders at Middlesex Hospital turned insight into action by leveraging analytics to drive financial performance. This presentation will showcase how Middlesex streamlined its Denials Management process by using analytics to identify trends and opportunities for improvement, as well as for departmental managers to monitor operational aspects of the business.
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- How post-denial write-off analytics provide immediate feedback for targeting payers, service type, denial type and/or high-dollar areas
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Labor costs encompass nearly 60 percent of the typical healthcare budget and are growing faster than healthcare systems can afford. COVID-19 responses only exacerbated this financial pressure. Controlling escalating labor costs means eliminating waste and using data to find where budgeted staffing hours exceed or fall short of patient needs. Most organizations have the wrong tools to understand labor demands and instead try to guess future patient volumes and staffing needs by using retrospective data that lacks timeliness.
The Health Catalyst PowerLabor application leverages augmented intelligence (AI)-powered forecasting capabilities to deliver accurate labor data to operational leaders. With timely workforce insight, health systems can close the gap between staff budgeting and future patient volumes, control labor expenses, and track progress toward budget and staffing targets.
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The document discusses strategies for improving revenue cycle performance that were employed by hospitals that won HFMA's MAP Award for High Performance in Revenue Cycle. It outlines seven key strategies used by the award-winning hospitals: 1) Create dedicated teams for revenue cycle improvement 2) Use metrics to conduct root cause analysis 3) Create shared accountability for performance 4) Collaborate across departments 5) Develop comprehensive uncompensated care approaches 6) Enhance customer service 7) Focus on improving the total patient experience. The strategies helped increase cash collections, reduce days in accounts receivable, lower bad debt, and improve patient satisfaction scores.
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This document describes a population health management system that medical providers can access to manage healthcare for self-insured employers. It allows providers to take control of healthcare delivery and costs in their community. The system has been in place for over 12 years and has successfully reduced healthcare trends and costs for over 1 million members. It provides tools for providers to identify high-risk patients, implement treatment regimens, monitor compliance, and share in savings through gainsharing arrangements with employers. Medical providers who implement this turn-key system can diversify their payer mix and increase revenues.
ACSG DIRECT TO EMPLOYER WHITE PAPER MARCH 15
This document describes a population health management system that medical providers can access to manage healthcare for self-insured employers. It allows providers to take on insurance-like roles without assuming insurance risk. The system utilizes over a decade of data on over 1 million members to analyze healthcare costs and outcomes. Medical providers are incentivized through gain-sharing agreements where they receive a portion of savings if healthcare budgets are kept lower than projected. The system aims to reduce costs through coordinated care, recruiting high quality/low cost providers, and promoting wellness. It has achieved healthcare cost reductions of up to 32% for some employers that have used the system.
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Three Keys to a Successful Margin: Charges, Costs, and Labor
How can cost management and complete charge capture protect and enhance the margin?
In this webinar, we will look at 2024 margin pressures likely to impact your organization’s financial resiliency. This presentation will also share how organizations can move from Fee-for-Service to Value; bringing Cost to the forefront.
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Sa Ignite Award Write Up
The document discusses a technology company called SA Ignite that provides software solutions to help healthcare organizations comply with value-based care programs. It describes the challenges providers face with new programs like MIPS that tie Medicare reimbursements to quality metrics. SA Ignite's platform automates and simplifies tracking, measuring, and reporting on clinical and financial performance required by these programs. The platform provides end-to-end support through predictive analytics and expert guidance, helping organizations adapt to the shift toward value-based care.
Sample Employer Health Plan Proposal
The cost of claims drives the cost of employer health plans. See a sample proposal on of a specialized, self-funded health plan that lowers claim costs and makes health care work for employees and employers.
Revenue Targets: Where Do You Stack Up?
Learn how to identify and track indicators of your company's financial health. Dave Justus, Kareo's Chief Financial Officer, and Ted Stack, founder of Falcon Capital Partners, will discuss the key performance benchmarks and insights you should pay attention to when working to optimize your billing company business.
Clinical Integration
A Clinically Integrated Network (CIN) is a selective partnership of physicians collaborating with
hospital(s) and other providers to deliver evidence-based care, improve quality and efficiency,
manage populations and demonstrate value to the market. Once these objectives are met, the network may contract on behalf of participants
The Top Five Insights into Healthcare Operational Outcomes Improvement
Effective, sustainable healthcare transformation rests in the organizational operations that power care delivery. Operations include the administrative, financial, legal, and clinical activities that keep health systems running and caring for patients. With operations so critical to care delivery, forward-thinking organizations continuously strive to improve their operational outcomes. Health systems can follow thought leadership that addresses common industry challenges—including waste reduction, obstacles in process change, limited hospital capacity, and complex project management—to inform their operational improvement strategies.
Five top insights address the following aspects of healthcare operational outcomes improvement:
Quality improvement as a foundational business strategy.
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Leveraging project management techniques.
Features of highly effective improvement projects.
Centricity Business Brochure
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This document summarizes an article about ImagineSoftware, a leading provider of revenue cycle management solutions. It highlights the following key points:
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This document provides an overview of Synergetics' "Industry in Focus" series highlighting trends in the healthcare and life sciences industry and how Synergetics is positioned to help clients in this sector. It discusses the challenges facing third party administrators in healthcare, including balancing costs and provider reimbursement rates. It also identifies factors driving increasing healthcare costs and provides examples of ways Synergetics has helped healthcare clients improve efficiency and profitability through process improvements and technology optimization.
HLU Presentation.Email.Secure
The document introduces HLU Consultants, an independent consulting firm that offers an alternative to traditional health plans through an open-platform, self-funded model. This model provides employers more control over their health plans, lower costs through reduced claim costs and a focus on wellness, and simplified administration. The model analyzes claims data to identify overcharges and strategizes ongoing cost control. In contrast to traditional brokers, HLU acts independently without incentives to select the best solutions for each client.
Overview of an Open-Platform Health Plan that Lowers Costs and Improves Perfo...
It's hard to gauge how well a health plan is performing. Do our employees understand and get the most out of their benefits? How effective is our wellness program? Are we paying too much for services? These are typical questions. An Open-Platform Health Plan is a self-funded health plan with unique features that allow an employer to establish, track and review performance benchmarks and reduce their exposure to risk.
HLU Consultants, Inc. is a privately held, independent consulting firm based out of Cincinnati, OH since 1961. The consultants at HLU successfully bring together a tremendous amount of industry expertise, valued partners and innovative technologies to design a better, cost-efficient health plan around a customer’s workforce. They help employers establish meaningful benchmarks so they can gauge the success of their plan with a focus on reducing costs, improving outcomes and helping employees successfully navigate the complex healthcare system.
The Annals of QPP
The Quality Payment Program (QPP) aims to tie together disparate programs incentivizing and penalizing healthcare providers to reduce costs while improving access and quality. Under QPP, providers can choose between Advanced APMs, which offer incentives for participating in innovative payment models, or MIPS, where providers earn performance-based payment adjustments through traditional Medicare. QPP applies to physicians, PAs, nurse practitioners, and others billing over $30,000 annually to Medicare and seeing over 100 Medicare patients. Providers must report 2017 data by March 31, 2018 and may begin earning positive 2019 payment adjustments based on their 2017 performance. QPP evaluates providers on four categories: Quality, Advancing Care Information, Improvement Activities, and
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Build Trust and Security:
Establish a safe and supportive environment where children feel comfortable expressing themselves.
Encourage Expression:
Enable children to articulate their thoughts, feelings, and experiences.
Promote Emotional Understanding:
Help children identify and understand their own emotions and the emotions of others.
Enhance Listening Skills:
Develop children’s ability to listen attentively and respond appropriately.
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Strengthen the bond between children and caregivers, peers, and other adults.
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Aid cognitive and language development through engaging and meaningful conversations.
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Encourage polite, respectful, and empathetic interactions with others.
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By focusing on these objectives, communication with children can be both effective and nurturing, supporting their overall growth and well-being.
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Provider Compensation & Contracting: A Look Back at 2021
- 2. Introduction ● 2021 a challenging year in the world of provider compensation management for health systems, medical groups, and other healthcare organizations. ● Organizations are evolving beyond the capability of their current compensation process. ● Compensation for providers grows more complex in both design and administration. ● Forward-looking technology and automation can unleash the full potential to improve from provider turnover to revenue generation to compensation error rates. ● These are challenges that we at Hallmark Health Care Solutions (HHCS) have spent the whole year focused on solving.
- 3. 5 Significant Factors That Affect Physician Compensation ● Need for healthcare organizations and medical groups to adopt consistent, structured, and strong provider pay practices. ● Technologically intelligent processes to ensure compliance & accuracy. ● Transparency for provider satisfaction and retention.
- 4. How Next-Gen Physician Compensation Data Reporting Offers Visibility and Insight ● Compensation is one of the most powerful tools in recruiting and retaining physicians and other providers. ● It can be a key factor in whether health systems, hospitals, and medical groups successfully meet organizational goals. ● Spreadsheet approach to compensation handling is so prevalent. ● A source of truth solution with next-generation reporting offers more visibility & insights.
- 5. 5 Ways Physician Compensation Solutions Help in Optimizing Staffing ● Staff optimization and productivity enhancement are high priorities for any healthcare organization. ● To achieve the outcomes, providers and compensation administrators – must have quick and easy access to all key information. ● An end-to-end automated solution improves the overall efficiency and empowers resources to maximize their value.
- 6. Idaho-based Health System Generated Huge Efficiencies ● Intensely manual compensation process had begun to create problems as they added new providers. ● HII PC(Physician Compensation) help them to strengthen provider relationships, make compensation management more efficient & reduce costs. ● By using HII PC system has saved more than 30% of spent by using HII PC.
- 7. Kentucky-based Health System Improved Accuracy, Transparency & Operational Efficiency ● Health system handled almost all compensation-related functions in excel previously. ● Using spreadsheet not possible to minimize any risk of error and it’s time consuming as well. ● Whereas Heisenberg II ensures to reduce management cost and also objective was to minimize any risk for error.
- 8. For Added info, Read the blog from Heisenberg II Provider Compensation & Contracting: A Look Back at 2021
- 9. Thank You Heisenberg II 200 Motor Parkway, Suite D-26, Hauppauge, NY 11788 Call us: (855) PHYSCMP (749-7267)