Preparing Your Practice for the Changing Landscape of Reimbursement
In the recent ebook, Positioning Your Practice to Negotiate the Reimbursement You Deserve from Payers, Christopher Rumpf, MD and Michael F. High discuss the changing landscape of reimbursement in healthcare with the shift to value and other critical regulations. The ebook gives perspectives from both the payer and provider side, offering practices the chance to understand and manage the complexities of reimbursement.
Here are a few critical takeaways from the ebook:
Preparing for the challenges of reimbursement
There are a number of challenges keeping healthcare providers from optimizing their reimbursement. It is important that practices understand these challenges as well as their value in the market. Independent practices have an opportunity to help form the new world of value reimbursement.
Developing a reimbursement strategy
After evaluating your contracts, the next step is to develop a reimbursement strategy. This includes analyzing value-based programs in which your practice is participating, enhancing your value story and developing leverage points, reviewing operations processes and truly improving your practice’s current strategy.
The new definition of value in healthcare
The shift to value is happening. It’s just happening at a slower pace than initially anticipated. With this shift, the definition of value is also changing to more of a consumer definition. This new definition will require updates in the way your practice looks at technology, scheduling, patient interfaces, clinical quality and creating an environment of high reliability.
Getting ready for the future of reimbursement in healthcare
The future reimbursement mental model will require you to think with risk-adjusted dollars and bundled payments in mind. It will also be critical to assess the preparedness of your team in regard to future skill sets. Assessing, documenting and managing clinical risk, as well as re-insuring clinical (actuarial) risk will be a necessity.
To start positioning your practice to take charge of your reimbursement negotiations, download the ebook, Positioning Your Practice to Negotiate the Reimbursement You Deserve from Payers.