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06/19/2018 

Ludi Newsletter

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.

Handpicked Articles For You

Becker's Hospital Review

From Phoenix-based Banner Health settling a False Claims Act lawsuit to Dallas-based Tenet Healthcare defeating a class-action lawsuit alleging overpayments, here are the some of latest healthcare industry lawsuits and settlements making headlines in 2018.

Next-gen revenue cycle to refine value-based care with AI, advanced analytics

Healthcare IT News

Revenue cycle management systems are absolutely essential when it comes to what healthcare organizations need in health IT. But the next generation features and functions of revenue cycle management systems are helping to facilitate a patient's understanding of insurance coverage and out-of-pocket cost for pending services.

Fierce Healthcare

Payers and employers, are trying to control their healthcare excessive spend by shifting more costs to consumers. But that doesn't get to the heart of the problem: that the price of new care options and technologies can be too high, regardless of who is paying. 

  Insights From Our Blog

In our most recent blog, "Tips and Tricks on How to Use Market Data to Establish Payment Rates for Physician Agreements" we discussed a few different tips (disclaimer: no real tricks) on how to leverage your market data.

Summary breakdown:Tips and Tricks on How to Use Market Data to Establish Payment Rates for Physician Agreements

  1. Select a source for market data There is a plethora of market data available from reputable sources. Here's an example: MD Ranger maintains a database of payment rates for administrative time for hospitals to use as an example. This database is great because it isn’t based on survey data, it is straight out of the contract. You must share your data in order to get the data.
  1. Select an approach Said another way, establish a corporate approach that in all cases, medical directorship pay rates by specialty will be within the 75th percentile or never will go above the 90th. Whatever your approach is, stick with it. If your process is consistent, it will make it much easier to defend, if that’s ever needed. Additionally, pick a time period for reviewing every Fair Market Value rate. One year, two years, three years – opinions vary – but the point is, review it. FMV moves with the market, so it should be reviewed regularly.
  1. Follow your contracts This one sounds so basic, but it is important to have finance and compliance audit these payments on a regular schedule to confirm they are updated.

Read the Full Article Here

Physician Administrative Contracts...

how does your hospital handle this big bucket of spend? 

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Take the Survey!

Take this quick 7-min. survey to let us know. No worries, your answers will be 100% confidential. 

As a thank you, we'll send you a copy of the final survey results so you can see how your hospital compares to others. Plus, you'll get tips on how to enhance contract management efficiency while improving compliance and reducing costs. 

 

A 305 bed hospital saved $259K annually by switching to DocTime Log®

Physicians at Stamford Health were missing submit times, forgetting, then wanting to be paid for a whole year. Self-audits were often revealing an overpayment, forcing the system to collect money back from physicians.

Needing to solve challenges of manual monitoring and payment of physician time, they turned to Ludi. Download the case study to see the benefits Ludi was able to provide.

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How Hospitals Approach Physician Alignment Today

Watch this short clip of Gail Peace, CEO of Ludi, where she discusses how hospitals economically align with their physicians.

Gail uncovers where most companies are excelling along with where most companies need to improve when it comes to physician alignment — find out if it holds true to your hospital.

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