April 2019 – Panacea Billing

What Behavioral Health Providers Need to Know about Value-Based Reimbursements

Value-Based Reimbursements change the game by offering outcome-based incentives to In-Network providers. Learn more about this important trend.Value-Based Reimbursements give In-Network providers an incentive to remain in a payer’s network, while tying a portion of their payments to patient outcomes. In doing so, the Value-Based system could help bring the cost of healthcare under control.And that’s not the only reason providers should embrace outcomes-based reimbursements. As of 2018 The Joint Commission will require outcomes-based data as a conditioned for accreditation. Other accreditation bodies are sure to follow suit.In this report, we look at how Value-Based Reimbursements, AKA “outcome-based reimbursements,” work and how providers can adapt to get out in front of this massive industry change.Insurer reimbursements are changing once again. This time, payments are being tied to outcomes. We see this as not a “trend” but a long-term solution to the issues that have long plagued payer-provider relations, the biggest being the disparity between In-Network and Out-of-Network payments.Traditionally, In-Network providers received a reduced rate for services, with the trade-off being that insurers funneled more patients to their practices. Out-of-Network providers, however, could charge whatever they deemed appropriate. This meant a huge gap between what In-Network and Out-of-Network providers were being paid for the same service, and led to In-Network providers crying foul.In theory, Value-Based Reimbursements change the game by offering outcome-based incentives to In-Network providers.In this report, we look at how Value-Based Reimbursements, AKA “outcome based reimbursements,” work and how providers can adapt to get out in front of this massive industry change.

5 Reasons You Should Diversify Your Payer Mix

To run a successful healthcare practice, it’s important to diversity your payer mix. Here are 5 reasons why payer mix is more important than you thought. In Healthcare, having a solid and diverse payer mix can be the difference between running a thriving business and closing your doors. Having a diverse payer mix takes the power away from any one insurer. This gives you more control of your cash flow, and enables you to better predict how much money you’ll have at any given time.While this is a simple concept, it’s important to understand precisely how the differences in payer operations and guidelines can affect your practice.

Month: April 2019

What Behavioral Health Providers Need to Know about Value-Based Reimbursements

5 Reasons You Should Diversify Your Payer Mix

Subscribe to Our Newsletter

Useful Link

Working Time

Our Address