Tag: RevenueXL

How EHRs Are Poised to Revolutionize Medicine

what are EHRsHave you ever sought medical care from multiple providers for the same condition? Then you probably already know how difficult it can be to coordinate care from one practice or facility to the next. One provider may not necessarily have access to the test results ordered by another provider, and even getting a prescription filled can be a hassle — you have to wait while the pharmacist fills your prescription and hope that he or she doesn’t misread the prescribing doctor’s terrible handwriting.

But all of that is changing; for many patients across the country, it has already changed, thanks to the Health Information Technology for Clinical Health (HITECH) Act of 2009. This law was enacted to encourage the transition to electronic health records (EHRs) in medical practices, hospitals, and other health facilities. Researchers agree that the use of EHRs can have many benefits for providers and patients alike, including improved patient outcomes, reduced costs, streamlined administration, and even improved ability to perform medical research.

What Are EHRs?

An EHR is an electronic record of a patient’s medical history that combines test results, diagnoses, and other data accumulated as the patient moves from one provider to another. Your EHR is meant to be longitudinal in nature, meaning that the record represents a lifetime picture of your health history.

Unlike a medical record, which is maintained by a single provider, an EHR is comprehensive; since it includes information compiled from every provider who works with you, it will offer each provider all of the information necessary to make your next treatment decision. That means no more re-ordering an expensive test you’ve already taken somewhere else, and no more waiting for test results to be faxed over from another doctor’s office.

Advantages of EHRs

Ideally, EHRs will someday travel with you. When all providers have made the transition to using EHR systems such as RevenueXL, you’ll be able to get the same quality of care from providers anywhere in the country. They’ll simply be able to check your EHR for pertinent medical information, and even update it so that your providers back home will be able to adjust your care accordingly. Even if you’re incapacitated, your EHR will ensure that providers around the country will be alerted to your medication list and existing medical conditions.

EHRs should make life easier for everyone involved in your care. You’ll be able to:

The use of EHRs should streamline the many administrative tasks associated with patient care. EHR system software will prompt your doctor to file necessary Medicare and insurance paperwork, will help them keep track of which best practice guidelines apply to your specific case, and will reduce numerous costs.

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Don’t Let the Transition to Value-Based Care Throw Your Practice Off Course

Guest post by Alok Prasad, CEO, RevenueXL.

Though many Medicare and private payer reimbursement programs that require practices to begin moving to value-based compensation already have set sail, most small practices are still treading water near the shore when it comes to this new wave of payment models.

While admirable in their care goals, these quality care-based reimbursement programs can pose some insurmountable challenges for small providers. In fact, they require a whole new way of providing care for some practices, as well as creating new documentation of integrated data analysis, development of care coordination with other providers, payer reporting applications, and often times new technologies that can support these new provisions.

What’s more, all this change also can be quite expensive for small practices and wreak havoc on current business practices.

Set the course
No doubt about it, though, the move to value-based care is on. According to the 2015 Physician Compensation Survey, conducted by Physicians Practice magazine, 63 percent of physician compensation is currently tied to productivity; 37 percent to value metrics and 29 percent to patient satisfaction scores.

The Centers for Medicare and Medicaid Services (CMS), however, has expressed its goals of having more providers participating in value-based plans each year, with a goal of 50 percent by 2018. And it has further incentivized physician participation by specifying increasing reductions in payments for non-participation that began in 2013.

So unless they want to start leaving money on the table, practices have no choice but to take the plunge into such new compensation programs.

Lift the Anchor
Before diving in and potentially draining money and resources to participate in such programs, physicians need to look around and assess their current situation to determine how the new reimbursement model might work in their practice. For example, they need to evaluate current technology, vendors, resources and physician support to determine what changes they need to make, as well as what internal infrastructure they can use.

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