This is the first in a series of blog entries about hospital-based tools that can also benefit Post-Acute Care facilities.
The anchor in a relay race is often seen as the most important part of a relay team: the anchor is the last person to run, responsible for the bringing the baton to the finish line, and key in determining whether the team wins. The final stage of the care continuum is analogous to the anchor, since post-acute care (PAC) facilities (such as in-patient skilled nursing facilities, assisted living, home health, home service, hospice and palliative care, independent living, and long-term acute care hospitals) are responsible for the final stretch of service for a patient.
Recently there have been important changes in how hospitals are paid. The Affordable Care Act of 2010 not only emphasized the quality of the patient outcomes but also made it more advantageous for hospitals to maximize that quality. Value-based payments from the Center for Medicare and Medicaid Service (CMS) now incentivize high quality, cost-effective care for patients on Medicare and Medicaid.
This is significant since it is projected that the number of Medicare-eligible patients will more than double from 2010 to 2050. Hospitals can capitalize on this increase on patients by providing high-quality service that gets them access to value-based funding. The new payment model based on value differs from the current system of fee-for-service.
These value-based payments are closely related to the bundle payments provided by CMS. Basically, CMS pays fee-for-service for the time that the patient is in care. However, after the episode of care, CMS takes into account, among other factors, the number of readmissions and overall patient experience from post-operation through recovery to determine a target amount. This amount is then reconciled with the expenditures of the hospital, and the hospital is paid retrospectively.
In this new, revamped continuum of care, PAC facilities will find it hard-pressed to prepare alone, much as relay runners need to practice beforehand to ensure success on race day. PAC facilities, like runners practicing the baton hand-off, need to coordinate with hospitals to ensure that the patient has a smooth, efficient, and appropriate transition to the last stage of the care continuum.
It is thus critical that PAC facilities understand the tools available at the hospital that can help them adequately prepare for the transition and how these tools can maximize their financial health.In the next post, we will explore some of the concrete benefits that the right tool can provide for PAC facilities.
Janus Choice is the right tool for successful PAC facilities. Janus Choice provides an innovative, interactive platform that helps hospitals and PAC facilities guide the patient and their family in making the informed choice between many high quality PAC facilities and selecting the one that suits them best. Janus Choice gives PAC facilities access to an ever growing base of patients at the most critical moment in a health care transition, which in turn can result in improved integration with health systems and improved government ratings, all due to proper transitions. Janus Choice also helps facilities comply with relevant state and federal regulations with ease, and helps facilities maximize their financial health.
3. http://www.forbes.com/sites/ howardgleckman/2016/01/06/feds-to-hospitals-improve- your-discharge-planning-or-well-make-you/#- 72183c5175a6
4. http://www. modernhealthcare.com/article/20160324/ NEWS/160329920?utm_source=modernhealthcare&utm_ medium=email&utm_content=20160324-NEWS- 160329920&utm_campaign=am