HFMA ANI 2016 – Brookwood Baptist Shares their Success with Value-Based Care
Two weeks ago, MedeAnalytics and client Brookwood Baptist Health attended HFMA ANI 2016 in Las Vegas, NV between June 26-29, 2016. The event draws more than 5,000 healthcare finance industry professionals, from executive leaders to mid-level professionals. This year, we saw a common theme bubble to the surface: approach healthcare in a bigger way to ensure greater financial success with more collaboration and clearer navigation towards value-based healthcare. Our client Brookwood Baptist Health also spoke to these themes, specifically how their partnership with MedeAnalytics has allowed them to take a synergistic approach towards value-based care during a major transition period.
During their session, Switching EHRs and Maintaining a Strong Revenue Cycle, Rosh Plugge, Executive Director of Revenue Cycle, and Pete Welch, M.B.A, Senior Revenue Analyst, outlined the need for a strategic partner that could help them apply analytics during their electronic health records (EHRs) transition to pinpoint trends, analyze root cases and resolve issues encountered with the move. By bridging gaps in their EHRs with analytics, the provider was able to have all reporting available after the first month following go-live. Brookwood was also able to meet the demands of population health and value-based reimbursement, all while maintaining patient satisfaction and HCAHPS scores.
Attendees learned why this approach worked best, providing examples of how other organizations undergoing a similar change can adopt their model. They specifically outlined how to:
- Normalize data to identify trends, areas of concern and facilitate process improvement
- Quickly discover issues to reduce loss to untimely filing, lower denial rates and faster cash flow recovery
- Compare patient information against legacy information to identify process and data issues
As the industry continues its evolution towards value-based care, collaboration will be key and many are already taking the right steps, whether it be by partnering with industry experts or breaking down data silos within their own organizations. We can’t wait to see what the next ANI holds for these innovative providers!
Get our take on industry trends
Why Health Plans and Employers Need Stop Loss Reporting
Due to rising healthcare costs and the Affordable Care Act removing the ban on capitated benefits coverage, numerous employers with self-insured health plans often purchase stop loss coverage. This coverage is not medical insurance; but rather, it’s a financial and risk management tool that protects the employer from excessive claims.
Read on...
Bridge the Payer/Provider Data Gap
Every patient has a plethora of data associated with their health record, which can include decades of enrollments, claims, accounts and charges. Much of this data is not housed within the same institutional, facility or provider database…
Read on...
Digging deeper: Leveraging analytics to boost service line profitability
Regardless of the size of the hospital or health system, you need to look beyond traditional operational metrics to fully understand your organization’s performance. Insights into revenue, volume, cost, quality and variation across service lines are key to improving both performance and profitability.
Read on...