articleMay 19, 2015 | 5 min. read
As a physical therapist, you’re likely well-versed in the acronyms that drive your documentation practices: HIPAA , CPT , CMS , PQRS , FLR , and FML (just kidding). But there’s one more to watch for: ACO. By now, you’ve probably heard this one being bandied about in discussions about healthcare reform and alternative payment models, but you might not be super familiar with what it means. So, here you go: In response to the Affordable Care …
articleMay 18, 2015 | 2 min. read
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 …
articleMay 13, 2015 | 5 min. read
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, …
articleMay 11, 2015 | 9 min. read
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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articleMay 7, 2015 | 5 min. read
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 …
articleMay 5, 2015 | 4 min. read
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, …
webinarMay 1, 2015
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 …
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