Value-based care is driving a new wave of regulations affecting providers across the country. Is your practice prepared to handle the shift? Investing in the appropriate technology, and knowing what to look for, is a key component of preparing your practice for regulatory changes and new patient demands in the most painless way possible.

Prepare For The Shift

Practices need to compile and analyze accurate data, and be able to translate that information to the federal government and patients. This is no longer an optional activity; new proposed rules from CMS and ONC are requiring proof of value-based solutions to release Medicare and Medicaid reimbursements. And patients themselves are demanding overall convenience, along with clearer explanations of charges. The growing pressure from all sides to communicate where patient payments are going and why is having a significant impact on the way providers practice medicine. Patient outcomes must be demonstrated and backed up with reliable data.

But without appropriate technology that can connect to payer databases and quickly export health data, providers spend precious minutes on administrative tasks. Implementing data and analytics technology within a practice leaves the provider free to focus on the patient, confident that the types of information needed to succeed in value-based care are being appropriately aggregated. EHRs and practice management systems collect, analyze, and report data in a fraction of the time it would take a staff member alone. Providers can quickly skip to data interpretation, seeing where the practice stands at a glance in regards to quality measures, patient outcomes, and medical cost management practices.

Spend Your Dollars Wisely

A quality practice management system is an investment that can work with your EHR to generate the types of reports that your practice needs to see to move forwards. Charge reports and payment reports, along with diagnosis analysis and appointment reports, can be created and exported in any format. Easy tracking of patient outcomes, spotting insurance payment delays, and evaluating the financial health of a practice are all possible from this type of system. A system that integrates with appointment reminder software and credit card processing systems provides the convenience and functionality that patients are demanding from practices.

EHR systems can analyze and display the necessary data to participate in MACRA programs, and even assist with portions of the submission process. Look for software that tracks activities that contribute to positive health outcomes, patient satisfaction, and effectiveness of care. Additionally, many EHR vendors offer special support services to assist providers in navigating the complex web of federal regulations.

Better care at a lower cost is the driving force behind the value-based care paradigm, with the aim to reward providers for better efficiency. These tools are necessary for success in a time when payment for services depends on demonstrating the quality of care provided in a quantifiable manner. Invest in the right solutions, and rest assured your practice will be equipped for whatever changes come next.