Historically, we have designated administrative codes as methods for reimbursement. However, with the evolution of value-based care, these same codes are now applied for risk stratification for adjustments to value-based payments. This variation of fees is necessary because the degree of illness and complexity drives the clinical needs and, thus, the cost. However, using this methodology has created… Read More »
The cost of healthcare in the United States is exorbitant. There are multitudes of reasons for our elevated unit price. Many believe, waste, makes up a significant part of the problem. And the largest component of wasteful spending is what we identify as administrative costs. These are dollars that are not improving patient care, and yet, they impact… Read More »
Healthcare is an industry where innovation and technology continue to progress and create an opportunity to improve lives. However, the cost of such products continues to rise and thus impacts the overall cost of care. But, suppose one surmises the purpose is to enhance care in a manner that delivers value, i.e., where the expense plays a significant… Read More »
Frequently, as healthcare providers, our focus is primarily on the issues concerning healthcare; however, there are several additional areas worth examining. For instance, with technology evolving, it is imperative that our ability to treat those we serve keeps pace. As physicians, we have the opportunity to practice differently almost every day. New techniques, state-of-the-art treatment modalities, and cutting-edge… Read More »