Coker Connection is Coker’s premier monthly newsletter. It’s a great way to stay on top of the latest news going on in healthcare and always features two new articles by different Coker consultants. To view the most recent articles, they are included below for download.
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Spring Is a Good Time to Clean Up Your Vendor Contracts
Whether it’s a new purchase or a contract renewal, every year physicians and hospitals commit financially to vendor contracts without fully understanding the terms and conditions of their obligations. Some of these contracts renew automatically without permission or approval and automatically increase in pricing. In some cases, practices may even be paying for services no longer used or maintenance fees for support services they do not need. Springtime is a good time to inspect your contracts to ensure they are squeaky clean.
Reviewing vendor contracts can be intimidating because the language is often written in a way that it requires an interpreter to determine the intent. For example, vendors will often use friendly-sounding language in their agreements, but in reality, the wording allows them to escape their obligations.
The Value of Clinical Documentation Improvement
Healthcare is shifting its focus from volume to value, which essentially means placing emphasis on the quality of care. Quality health care should take precedence over anything else. Successful navigation of a value-based system will require all healthcare entities to become proficient in documentation and data analytics.
The Centers for Medicare and Medicaid Services (CMS) and other regulatory agencies utilize coded data to assess performance and outcomes. Coded data is derived from clinical documentation provided during the patient encounter. Healthcare entities that will fare the best under the new value-based system will have an integrated clinical documentation program in place that facilitates an accurate depiction of each patient’s level of care, symptoms, diagnoses, treatment, and outcomes. Summarily, accurate clinical documentation supports correct coding, charge capture, billing, and reimbursement. The result is that hospital and physician profiles will reflect the appropriate quality of care provided and support resources utilized.
Past Coker Connection Newsletters
- Spring Is a Good Time to Clean Up Your Vendor Contracts
- The Value of Clinical Documentation Improvement
- Smoothing the Rough Spots in Patient Flow in Outpatient Practices
- MACRA’s Medicare Part B Payments Under MIPS
- Leadership Development and Succession Planning
- Myth of the Median
- Interim Management: Allow Your Organization Time to Find Expert Leadership
- Cyber Security Lessons from 2016 and Trends for 2017
- Information Technology: A Competitive Necessity or A Competitive Advantage?
- Benchmarking to Perfection
- The Effect of the Election on the Healthcare Industry
- External Value-Based Incentives: What Should You Do With Them?
- The Importance of Accurate Cost Accounting in Healthcare Delivery
- A Reflection on Coding and Compliance Changes
- Prepare Your Organization for Unexpected Leadership Gaps
- Navigating the Documentation of Community Need
- Creating Balance between Clinical Needs and Cyber Security Policies
- Alignment Deal-Making: Keys to a Successful Transaction
- MACRA and MIPS in Physician Practice Valuations
- Identifying and Retaining Leadership Talent
- MU will Soon be a MIPS – Why and What do you need to Know?
- The First Step on the Road to Value: The Coker ValuePath Assessment
- Harmony – MD
- wRVUs: Are Yours Accurate
- Credentialing: The First Step to Revenue
- Developing a Physician Leadership Strategy
- Too Little? Not Too Late!
- Bridging the Gap from Fee-for-Service to Fee-for-Value (without Losing Your Mind)
- Physician Documentation: My, How Times Have Changed!
- A Strategic Systematic Approach to Community Health Needs Assessment (CHNA): A Living Plan for Your Community Health Improvement
- Mitigating Organizational Stress
- When and How to Convert to another EHR
- Do M&A Deals Really Result in Long-Term Value Creation? Increasing Your Odds of Success