September 22 is the first day of fall: the season of warm sweaters, piles of brightly colored leaves and the overwhelming desire for pumpkin spice lattes. Plus, with fall comes the inevitable shift into Q4, which makes us all sit up and start to plan for the next year.
Most likely, your organization is used to working quarter by quarter to manage your revenue cycle, adapting processes, adjusting roles and tasks, and keeping a constant eye on key performance indicators (KPIs), so you can fine-tune your approach and maximize revenue in light of changing market and regulatory requirements. But now MACRA and MIPS are coming, heralding one of the largest changes to reimbursement in decades, and with it comes a new sense of urgency – or there should be. Protecting your Medicare reimbursements depends on it.
Successfully navigating MACRA and MIPS in 2018 begins with assessing the requirements and understanding what action you need to take this year and next to optimize Medicare revenue opportunities – a perfect activity to take on as the weather gets cooler and 2017 starts to wind down.
Treating your revenue cycle as a single, integrated, collaborative process and using analytics to understand where care optimization is needed can help you navigate the changing seasons of revenue cycle management (RCM) – otherwise known as the transition from fee-for-service to value-based care.
At the same time, analytics and reporting can help your teams make smart decisions when it comes to MACRA and MIPS. These tools can also give your organization a competitive edge, since less than half of organizations aren’t yet taking advantage of data analytics tools to manage their KPIS and reporting needs.
Don’t let your revenue cycle get buried in a pile of leaves this fall. Put an action plan in place to improve your Medicare reimbursement!