As the Centers for Medicare and Medicaid Services (CMS) have revised compensation rules, pressure on long-term/post-acute care (LTPAC) providers has increased to adapt to value-based care models. For geriatric practices, these pressures plus the challenges of the COVID-19 pandemic have accelerated the need to adapt business practices and technology to support collaboration and coordination with payers, health systems and care facilities.
In a recent webinar, executives from two successful geriatric practices shared what it takes to build and maintain a successful value-based infrastructure in LTPAC settings.
Amanda Tufano, MHA, FACHE, CMPE, is chief executive officer at Genevive, a geriatric medical practice and care management organization based in Minnesota. The organization holds multiple value-based payer contracts for dual-eligible patients.
Michelle Coffey, ACNS-BC, RN, MSN, is chief clinical officer at Austin Geriatric Specialists, the largest geriatric-focused medical practice in central Texas. The organization provides care to thousands of patients, following them through the continuum of care from hospitalization, to skilled nursing and assisted living facilities, to a successful transition home.
The presentation focused on three key areas:
Embracing value-based care models
Genevive wanted better alignment with payers and provider partners on clinical and financial goals. As Tufano noted, facilities need providers who are more than “guests in their buildings,” and Genevive took action to forge closer partnerships:
Austin Geriatrics launched value-based care in 2018, and Coffey credits it with being the organization’s largest area of continued growth.
Company culture and burnout prevention
Genevive’s Tufano noted that requiring every provider to see a specific number of patients per day can cause providers to view their profession in a negative light. Instead of helping people, they feel pressured into meeting quotas in order to pay their bills.
To keep values and incentives aligned, Genevive uses a model that can be tailored to how providers prefer working:
Austin Geriatrics takes proactive steps to combat burnout and staff turnover, as well as focusing on hiring providers whose goals align with its mission.
Technology and process strategy
Genevive began its move to mobile technology in 2019 after a winter snowstorm caused major disruptions in service to clients. The upgrades put the organization in a strong position to adapt when the COVID-19 pandemic hit.
At Austin Geriatrics, third-party solutions had been added to its existing EHR in an effort to decrease the time clinicians spent on documentation. But, according to Coffey, managing multiple vendors was inefficient.
Austin Geriatrics switched to GEHRIMED for processes and features designed to support how geriatric practitioners work.
Risk-sharing payment agreements and value-based care models will continue to become more common, and CMS will continue to issue changes in compensation rules. To ensure their financial stability, LTPAC providers need to look ahead and be ready to adapt their processes and technology. The result will be stronger collaboration with other care providers and enhanced quality of care, in addition to financial stability. Watch the full webinar here.
Wednesday, January 25 | Thought Leadership,Post-Acute Care,Value-based Care
From workforce issues to value-based reimbursement models and legislative & regulatory change, there is plenty for hospice and home care agencies to keep an eye on in 2023. The National Association of Home Care & Hospice (NAHC) President Bill Dombi discusses the trends of the new year and offers his expert advice on how to navigate the coming months.More
Tuesday, December 20 | Thought Leadership,Post-Acute Care,Value-based Care
According to a recent report, there will be a “healthy demand” for Continuing Care Retirement Communities (CCRC). That doesn’t mean there won’t be any challenges. Leaders of these full continuum communities are still dealing with issues like inflation and recovery from the coronavirus pandemic. Senior care expert Eva Bering, MSN, MHA, RN, NHA, shares her thoughts on what leadership and boards of not-for-profit life plan communities need to focus on for future success.More
Thursday, December 01 | Thought Leadership,Post-Acute Care,Value-based Care
Most payers believe a majority of their contracts will be value-based within a few years. Some of them are already preparing while others haven't made the change. We take a look at five steps to help with the transition to a value-based payment model.More