Today hospitals still face many regulatory and compliance risks. However, we aren’t out of luck quite yet, because there are several ways hospitals can reduce these types risks. Here, we highlight six ways to avoid costly fines and settlements specifically related to physician compensation practices.
There's an overwhelming amount of data in the most recent U.S. Cost Report. For your convenience, we broke it down to highlight three insights that reveal the opportunity for hospitals to capture additional revenue.
So your organization has a contract management system, meaning your physician contracts are covered right? WRONG.
Contract management systems do a great job of managing the development of new physician contracts, executive approval, and any redline changes that are made on the various versions. Once signed, the contract management system is not the best place to manage the activity on these contracts. The day-to-day management falls to the operational and financial side of the house.
Topics: Physician Time Logging
If you’re working with physicians in hopes of continuing to build good relationships with them, you are well aware of the intricacies that come with managing their administrative agreements…after all getting your docs paid on time will certainly help alleviate any relationship woes. Even though you may already be housing these agreements in a digital solution and capturing time logs whether on paper or via excel files, there probable is more you can be doing to help yourself and your relationships with your physicians.
Automation is a big word and an even bigger concept. It's important to remember that there are varying degrees of automation. Take, for example, the process of having physicians log time for their administrative duties on hospital contracts such as medical directorships, teaching, co-management, etc. One way to automate this process might be to use excel file templates to log and submit time for approval, another might be to give a physician an application to track their time. What if we’re talking about full automation of this process from the time the physician logs their time through to review, approval, and reporting for the hospital? What does that look like and how does it benefit all parties involved? Take a peek at the 7 benefits related to an automated physician logging process…in our eyes it’s a positive change for everyone involved, not just the physician!
Hidden somewhere inside each hospital is the person who is responsible for coordinating the submission of the Medicare Cost Report. This is an annual filing that contains information about the hospital’s cost of delivering care. While Medicare currently reimburses hospitals prospectively based on DRGs, accurately and efficiently logging your physicians' workflows is still a major driver of that reimbursement. Below are two areas that are directly impacted by physician time logs.