Value Based Payment Transition to be Accelerated

As a top priority from HHS Secretary Alex Azar

HHS Secretary Alex Azar has a two fold plan to help accelerate the transition for value based payments.  By developing alternative payment models and through promoting price transparency, Azar is determined to ramp up the transition and get the ball rolling.  Earlier this year, Azar explained that, while alternative payment models got their start over a decade ago they are still not reaching their potential.

The rate of healthcare spending in the United States continues to increase.  CMS projects it to actually make up 19.7% of the economy by the year 2026. With Medicare and Medicaid being the largest payers in the healthcare industry, forcing them to complete the transition through MACRA, will speed it up for those other payers.

This speedy transition is leaving healthcare practitioners wondering where they will stand, will they keep up the pace or be left in the dust?  With the right tools and experience, there is no need to worry. Our customers are easing their way through the transition currently thanks to tools like Practice Insight, combined with our friendly and knowledgeable staff.

 

What is Practice Insight?

Practice Insight is an easy to use tool that provides accurate cost estimation, which makes for a better experience for both you, and your patients.  With this helpful tool, you can understand how the procedures and care you provide impacts your patients, and see the claims that you will need to submit for ahead of time.  This allows you to prepare and make accurate decisions about the health of your patients, and your practice.

Additionally, your patients gain a valuable window into the cost of their healthcare, and can now make empowered decisions.  Your patients are able to see the estimated cost of the different treatments, tests and procedures that you recommend and are able to become more active in their care.  This creates a win win situation – managing the cost of healthcare from both sides of the equation.

With patients knowing and understanding the cost of their healthcare before receiving it, they are also better prepared and equipped to pay for that care, helping you to better manage your revenue cycle.

Let Main Street Medical walk you through the changes being implemented, and show you a demo of this powerful solution.  Give us a call today!