Top Challenges Providers Face In Alternative Payment Models

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Top Challenges Providers Face in
Alternative Payment Models
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Top Challenges Providers Face in Alternative
Payment Models
Over the time, even the different ways by which
payments can be made in medical practices are
undergoing a significant change. In fact, a
physician whether as an individual practitioner,
an employee of an extensive healthcare system, or
a hospital has never faced such a challenging
time before. But now they are required to
navigate a series of challenges every day and one
of them is the payment hassle. Its mainly
because of the alternative payment models (APM)
that are being incorporated into the healthcare
system now. This article will discuss about the
top three challenges that the providers will face
in alternative payment models. It is vital to
understand these challenges to mitigate them as
soon as possible as the medical industry is
shifting towards new APM models. Read more
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Top Challenges Providers Face in Alternative
Payment Models

• Challenge 1 Resource Crunch
• It is time-consuming and labour-intensive process
  when you have to shift or use APM. Additionally,
  it requires the practice to have the right people
  and resources to support the entire payment
  system. In fact, it may take six and eighteen
  months to participating in the APM models and to
  start functioning on the same.
• Challenge 2 The Ever-changing Rules Policies
• Undoubtedly, the medical billing and coding
  system in itself is a challenging process. But
  simultaneously, APMs are also adding a burden on
  the healthcare providers as an arduous
  progression for the practices. Moreover, like any
  other medical billing system, the alternative
  payment method models are also undergoing
  continuous changes in their rules and policies.
  Hence, the entire process becomes quite a complex
  space that the practices navigate.

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Top Challenges Providers Face in Alternative
Payment Models

• Challenge 3 Data Monitoring and Analysis
• One of the ways to succeed in the practice is by
  offering the best medical services to the
  patients. It is possible only when the practice
  monitors and analyses the data they have. The
  situation is the same for APMs, but it has
  limited information despite CMS is offering
  feedback reports to the APM participants. Also,
  the EMRs have data that can be used for model
  performance, restricted on the basis of
  knowledge. As a result, it fails to provide the
  entire journey.
• In such a scenario, monitoring, measuring, and
  analysing the data for managing the APM programs
  can be pretty challenging. To mitigate this
  challenge, it is important to find a dedicated
  person or team who will monitor, collect and
  analyse the program data. In addition, some tools
  can be implemented to get the trended information
  which can help the practice to measure the
  performance and improve the workflow.
•  

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Top Challenges Providers Face in Alternative
Payment Models

• Conclusion
• Though these are the key challenges faced by the
  healthcare practices along with several others in
  APMs, they can also be mitigated, and practices
  can navigate it to offer better services to their
  patients with better performance. Moreover, there
  is a need on the part of the practice to train
  their staff and practitioners for the AMPs. One
  of the most accessible options is to hire a team
  such as 24/7 Medical Billing Services who
  specializes in APMs and work with them to
  overcome the hurdles and reap the benefit of the
  model while focussing on taking care of the
  patients and the practice.

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1 888-502-0537
6
Top Challenges Providers Face in Alternative
Payment Models
About 24/7 Medical Billing Services 24/7
Medical Billing Services is the nations leading
medical billing service provider catering
services to more than 43 specialties across the
entire 50 states. You can rely on us for
end-to-end revenue cycle management. We guarantee
up to 10-20 increase in the revenue with cost
reduction of your practice for up to
50.  Media Contact Hari Sudan,  24/7 Medical
Billing Services, 16192 Coastal Hwy, Lewes, DE
19958 Tel [phone] Email -
info_at_247medicalbillingservices.com
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