• Taking Charge: The Proposed PT Payment Remodel Image

    articleMay 18, 2015 | 2 min. read

    Taking Charge: The Proposed PT Payment Remodel

    Value-based. Quality-driven. Pay-for-performance . These are some of the buzzwords you’ve probably heard being bandied about in the healthcare payment world. And all that buzz is only going to get louder with time, because no matter how you choose to describe it, the movement toward better care at a lower cost is picking up major steam. As we already covered in a previous blog post , that movement has manifested in the formation of several different alternative …

  • Slicing the Pie: How Payers Distribute Bundled Payments Image

    articleMay 13, 2015 | 5 min. read

    Slicing the Pie: How Payers Distribute Bundled Payments

    Last month, I explained the ins and outs of payment bundling and why it could prove highly lucrative for physical therapists—especially considering the US healthcare system’s impending shift to a value-based payment environment. And while bundled payments might sound pretty great in theory, when we get down to brass tacks, the question on everyone’s mind seems to be, “Who’s cutting the payment pie, and how big will my slice be?” If you’re looking for a simple answer, …

  • America’s Next Top Payment Model: The Move to Pay-for-Quality Image

    articleMay 11, 2015 | 9 min. read

    America’s Next Top Payment Model: The Move to Pay-for-Quality

    Your mission, should you choose to accept it, is to provide higher-quality care at a lower cost. With the healthcare industry’s fast-moving transition to value-based —rather than service-based—payment systems, that’s the challenge many providers are facing. And while that mission may very well seem impossible, the truth is that rehab therapists and their peers in other medical fields don’t really have much of a choice as to whether they’ll accept it.

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  • Past, Present, and Possibility: The Progression of Pay-for-Performance Image

    articleMay 7, 2015 | 5 min. read

    Past, Present, and Possibility: The Progression of Pay-for-Performance

    For decades, healthcare leaders have searched for a way to balance the interests of providers, patients, and payers. The pay-for-performance paradigm has emerged as a front-runner in the race to drive down healthcare costs while simultaneously raising the quality of care and increasing patient satisfaction. But what, exactly, does this buzz term mean? Defining Pay-for-Performance As this Health Affairs article explains, the pay-for-performance umbrella encompasses any “initiatives aimed at improving the quality, efficiency, and overall value of …

  • Evidence-Based Payment: Why Data is the Key to Pay-for-Performance Success Image

    articleMay 5, 2015 | 4 min. read

    Evidence-Based Payment: Why Data is the Key to Pay-for-Performance Success

    If I challenged you to find a rehab therapist who didn’t believe in the power of evidence, you’d be searching for a while—forever, hopefully. After all, PTs, OTs, and SLPs are steadfastly dedicated to evidence-based clinical practice, because they know it gives their patients the best possible chances for success. On the business side of therapy practice, however, the application of evidence—a.k.a. data—is something many rehab therapists have yet to fully embrace. Payers, on the other hand, …

  • The Pay-for-Performance Puzzle: 3 Ways PTs Can Get a Piece Image

    webinarMay 1, 2015

    The Pay-for-Performance Puzzle: 3 Ways PTs Can Get a Piece

    There are a lot of moving parts when it comes to payment reform: better access, lower cost, and improved accountability. And when you put ’em all together, you have a model that rewards quality over quantity, which is a great thing for PTs—if they know how to see the big picture and prepare accordingly. In this webinar, hosts Heidi Jannenga and Charlotte Bohnett will assemble the pay-for-performance puzzle and detail three things PTs can do to get …

  • The Dynamic Trio: EMR, RCM, and You Image

    articleApr 22, 2015 | 4 min. read

    The Dynamic Trio: EMR, RCM, and You

    If you’re currently shopping for physical therapy software, you’ve most likely seen a myriad of initialisms. But what does all that alphabet soup mean? Well, in the physical therapy industry, clinics primarily rely on two software solutions to do business: EMR, which provides documentation and scheduling. Revenue cycle management (RCM), which handles accounts receivable (AR) and payable (AP). EMR and RCM are the two initialisms you’ll see most as you shop around for your software. Sometimes, you’ll …

  • Partnering for Profit: The Opportunities and Challenges of Bringing in an Investor or Buyer for Your Therapy Practice Image

    articleJan 26, 2015 | 5 min. read

    Partnering for Profit: The Opportunities and Challenges of Bringing in an Investor or Buyer for Your Therapy Practice

    The physical therapy and rehabilitation care industry market is large and growing. Merger and acquisition activity remains on the radar for many of our nation's largest rehabilitation providers. In fact, private equity firms now own six out of the ten largest players. There are several reasons for this industry phenomenon, which has driven multiples to a 20-year high and has attracted both financial and strategic buyers from all walks of life. Here are a few of those …

  • 3 Options You Should Consider When Starting a PT Practice Image

    articleJan 22, 2015 | 5 min. read

    3 Options You Should Consider When Starting a PT Practice

    Owning your own PT practice could be a dream come true. But if you aren’t sufficiently prepared, the process might end up feeling more like a nightmare. A crucial step in the planning process is determining your ownership approach and business structure. You’ll need to decide whether to start a clinic from scratch, partner with a colleague, or purchase an existing business. In its practice administration guide, the American Physical Therapy Association (APTA) emphasizes the importance of …

  • Exit Strategy: Succession Planning vs. Liquidation vs. Buyout Image

    articleJan 15, 2015 | 4 min. read

    Exit Strategy: Succession Planning vs. Liquidation vs. Buyout

    In my last post , I offered you some food for thought as you ponder selling your practice—specifically, the need to find a buyer. Regardless of your reasons for moving on from private practice (increasing expenses, reduced compensation, ever-changing regulations, administrative headaches, retirement, or perhaps a lack of passion), you have a number of options for getting out: Succession Planning Why it Works An important part of selling is withdrawing yourself from your clinic—a particularly emotional process, …

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