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RCM tip: MACRA calls for a cross-departmental effort

RCM tip: MACRA calls for a cross-departmental effort

Healthcare organizations should seek cross-departmental collaboration in preparing to manage and execute Medicare Access and CHIP Reauthorization Act initiatives, according to Joncé Smith, vice president of revenue cycle management at Stoltenberg Consulting.

Ms. Smith shared the following tip with Becker’s Hospital Review.

“Although many may see the IT department as the owner of an initiative like MACRA, true progress can only be achieved from a cross-departmental collaboration among financial, clinical and IT departments. Financial leaders serving on this committee should be responsible for managing the organization’s reporting path, including working with clinical leaders to select the appropriate program measures under either the APM or MIPS track. After all, these program measures are critical in charting the organization’s path for quality reimbursement opportunity; it’s imperative for an organization to select the measures it can meet most easily. By taking a key role in MACRA initiatives, financial leaders can help their organizations maximize reimbursement and prevent penalties in future years.”…

 

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