12/13/2017 

Dwindling reimbursement, regulatory uncertainty, and shifting payment models have hospital leaders navigating a rapidly growing landscape of choices. Here are our notes on what decision-makers need to know in the industry to stay ahead of the changing tides.

 Insights From Us

In our latest article, "6 Ways for Hospitals to Avoid Costly Fines and Settlements", we discussed ways to avoid costly fines and settlements specifically related to physician compensation practices.

Here's the summary breakdown: 

Create the physician agreement with all the appropriate safe harbors – It’s important when creating your hospitals physician agreement you use contract templates and lawyers and certainly do a Fair Market Value study on the compensation.

Collect physician time logs for payment – Many organizations think that because a physician is employed, they don’t need the time log for administrative duties. However, the best defense is to keep track all the time.

Audit payments approval process–  They should understand Stark law and Anti-kickback Statute to truly understand their duties.

Help physicians stay compliant – Doctors want/need to stay compliant with their agreement, so make it easy for them to give you the needed documentation. Consider an automated solution that respects the physician’s time.

Consolidate all physician payments into one place – By tracking administrative time for employed and independent physicians, you have a broader picture where your spend is going. It’s all part of the hospital’s investment.

Consider automation – Having easy access to historical payments data is critical to not only managing future contract negotiations, but also for establishing compliance with FMV or even for internal or external audits. 

Read the Full Article Here

[Upcoming Webinar] How Physician Spend Management Technology Drives Revenue

Hospitals nationwide are wasting money on physician contracts due to poor processes and missed opportunities...whether they realize it or not.

Join Brian Brock Thursday December 19th at 11am CST for an exclusive 30 minute webcast showing how advanced technology can help your hospital get back on track and obtain the revenue and efficiency you might be losing. 

Quick Tips: 3 Signs Your Hospital is Missing Out on Revenue

Feeling as though you’re missing out on revenue that your hospital deserves? No need to worry though, we have laid out three situations that are telling signs you’re leaving money on the table.

1. You don’t know what you’re spending on physicians administrative time: The average hospital spends about $10-20 million on physician administrative time, yet it’s hard for them to answer what makes up that spend or how many agreements they have.

2. Your teaching program is so successful that you don’t worry about capturing GME reimbursements: Hospitals with teaching programs, regardless of reputation and/or brand, are entitled to capturing revenue for doctors who spend time with graduate medical students. 

3. The other major hospitals in your area are doing a better job to improve the Area Wage Index: If CMS determines reimbursement based on an index calculated from costs submitted in your area, it seems like you want to take every opportunity to capture those costs as well as lean on other hospitals to do the same. 

Can better tech result in more savings?