In our discussions with standing and prospective clients, we hear all types of feedback and pain points.
Below, we outline the four common reasons medical providers consider managing their own Medicare preventive programs.
1. Patients May Prefer Your Practice To a Third-Party Company
An outside solution can be a point of efficiency for your medical practice, but not necessarily for your patients.
For instance, staff turnover can be high at a third-party company.
This can cause issues in care continuation, or disrupt patient relationships.
This matters greatly to the people you treat. Especially when building trust.
Your patients are far more likely to trust you and your staff.
They’ve spent more time with you. And their relationships have developed through face-to-face interaction and shared history.
This bond promotes open communication, which is crucial when providing care services.
Without strong patient engagement, enrollment in the preventive programs you offer may slip. Or, patients may half-heartedly participate, skewing results.
Managing your own programs may help avoid such circumstances.
2. More Control of Your Programs
By insourcing care coordination, you’ll maintain control over the entire administrative process — from hiring and/or training staff, to billing and reports.
Insourcing also allows you to more easily adjust your programs as needed.
Whether you need to provide training, handle service issues, or simply communicate with your care managers, you’ll be able to readily respond to change.
3. Potential for Increased Reimbursements and Greater Revenue
On average, you’ll likely pay more to work with a full-service company.
You could pay more than half the national average reimbursement for Chronic Care Management (at $62 per month per patient). Or, you may pay a notable percentage of the average reimbursements for Remote Patient Monitoring, Behavioral Health Integration, and Annual Wellness Visits.
Depending on your situation and patient volume, that cost may make sense. You are paying for full-service, hands-off care coordination, after all, and that saves time.
That said, by utilizing your existing staff, as well as a designated care manager, you may find opportunity with an in-house approach.
As well, care coordination software will aid your staff by simplifying the process. And while it comes as a cost, care coordination software is significantly cheaper.
4. Greater Staff Engagement
By administering your Medicare preventive programs in-house, you’ll foster staff engagement.
Your staff will claim ownership of the process, while nurturing patient relationships.
This may promote productivity and improve morale. As well, greater engagement and provider buy-in may enable certain staff to develop additional skills or expertise.
This development may reflect highly on your practice, most likely through improved patient outcomes.
3. Notify Your Patients of Your Management Transition
For the patient, you’ll want to create a seamless transition.
Give plenty of notice to those who use your preventive Medicare services through a full-service provider.
They will undergo a change, in terms of who they interact with when receiving services.
As well, it’s likely your practice may make small adjustments to their care coordination, based on you and your staff’s input.
This notification may also serve as an opportunity to further inform your patients of other services that may benefit them.
Software Can Help You Address Value-Based Care
Value-based care emphasizes health outcomes as a method to determine provider compensation. With alternative payment models, such as the Merit-based Incentive Payment System (MIPS), providers must report specific metrics and data to justify the rates they receive.