- Are you a provider who's worried about the financial risk
that come with implementing value-based care?
Well, what if I told you that with a software solution
you could streamline value-based care,
improve patient outcomes,
and holistically provide multiple care services
all through a single platform.
In this video,
I'd like to introduce you to Care Coordination Software
and the top three ways
it can reduce the cost of value-based care
while providing revenue for your practice.
(gentle music)
Hey, this is Dan with ThoroughCare.
At ThoroughCare, we've streamlined value-based care programs
for clinics and physician practices
all across the United States.
Care Coordination Software is a tool
that has made value-based care
more effective and profitable for medical providers.
We'll cover what Care Coordination Software is
and three ways it can help reduce costs
and boost revenue associated with value-based care.
First, let's talk a little bit about
what Care Coordination Software is.
Care Coordination Software is a digital tool
used by health systems, accountable care organizations,
and smaller practices
to coordinate the various types of patient services.
It solves the complex administrative
and patient engagement needs
associated with preventative and wellness programs.
While it's similar to software for CCM, RPM,
TCM, AWV, and behavioral health,
it's designed as a way to manage patients
that might not exactly fit into one of those programs.
With this software tool,
medical providers and staff
can easily manage these programs
while reducing the time and manpower
required to implement them.
Care Coordination Software can offer care plan creation,
data collection and analysis,
time keeping and billing automation,
and workflow processes
which address the criteria of value-based care.
So how exactly can Care Coordination Software
reduce costs under value-based care?
Well, with value-based care,
medical providers reports specific metrics
and are judged by a performance score.
If data shows high value, high quality services,
clinicians earn payment increases.
While at the same time if data shows
limited positive impact for patients,
penalties may apply.
With MIPS, the four categories reported on
are quality, cost, promoting interoperability,
and improvement activities.
You can learn more about the risk associated
with value-based care
in this video here
or read more about it on our learning center link
in the description below.
The first way Care Coordination Software
reduces the cost of value-based care
is it allows you to manage patients
that might not qualify for other reimbursement programs.
You've likely heard about the programs
we've already mentioned,
CCM, TCM, RPM, and others,
but sometimes you might have a patient that doesn't qualify
or perhaps has a different insurance
that doesn't cover those services.
However, you feel that they would significantly benefit
from those services.
That's where Care Coordination Software comes in.
The staff member can administer similar versions
of these programs
all through the same tool
with automated software processes and streamline workflows.
This means patients will no longer miss out
on these services.
The financial benefit will come later
by keeping these patients out of the hospital
and reducing costs.
Let's talk more about this in number two.
The second way Care Coordination Software
reduces the cost of value-based care
is it allows you to provide care coordination
to reduce costs.
Care coordination is a natural extension
of the value-based care mindset
with the goal being to cut cost
while improving efficiency
and increasing the value of the services
and patient outcomes.
This is accomplished by tying insurance reimbursements
and their rates to performance metrics.
This can include reduced readmission rate,
decreased length of stay at hospitals,
and lessened ICU mortalities
among other measurements.
Care Coordination plays a preventive role
by providing patients access to an individualized care plan.
This document accounts for a patient's chronic
or behavioral health conditions
while offering a roadmap for treatment or guidance.
It's a helpful tool to spearhead preventive health measures
which goes a long way to improving the patient's wellbeing.
And unlike CCM,
basic care coordination does not require any threshold
or billable time to be logged.
It's the perfect way for patients whose insurance
may not cover specific wellness programs,
but yet you feel they can benefit from a care plan.
Value-based care
encourages optimizing every patient interaction
to reduce expenses.
Care Coordination ensures the patient is knowledgeable
as well as armed with a course of action.
This can prevent repeat appointments, lab tests,
and even hospital admissions.
All this goes towards improving your MIPS score.
The third way Care Coordination Software
reduces the cost to value-based care
is it allows you to monitor medical staff productivity
and minimize expenses.
Care Coordination Software can include data analytics
which can be used to drill into patients' data
or to better understand your staff.
Analytics can highlight workflow inefficiencies
and help align priorities
between your staff and the patients they care for.
It can do so by measuring user performance
or creating customer reports
aligned towards specific metrics
as they occur on a regular basis.
This can help clarify and answer questions such as,
what tasks occupy most of your staff's time?
What value do these tasks create?
Can these tasks be streamlined
so others receive as much attention?
While direct patient engagement
is certainly a keen value measurement,
having the ability
to assess your practice's functionality and health
also serves to benefit the patients that you manage.
This will reduce inefficiencies
and enable stronger patient engagement
which amounts to greater quality of care.
So as you can see,
Care Coordination Software is the solution
for several other potential inherent problems
to value-based care.
These include patient engagement and satisfaction,
performance scores, and the exposure to financial risk.
Keep in mind that beyond limiting
a provider's financial risk,
Care Coordination gives you the ability
to manage those patients that might fall through the cracks.
If you'd like to learn more about Care Coordination Software
and how it can help your transition to value-based care,
then contact us at the link below in the description.
As always, if you found this video helpful, please like it,
add a comment, or subscribe to our YouTube channel.
Thanks for watching.
Bye.
(gentle music)