Recently I was reading an article Jim put me onto: Measuring health care performance is their business, and business is good. It talks about the many businesses that have sprung up to take advantage of complexities health providers have in the face of new regulations requirements. Specifically showing patient value (Value based Care) in order to receive Medicare reimbursement, and new reimbursement initiatives.
The article is a quick read and worth the time. It focuses heavily on companies helping providers comply with government initiatives for bundled payments and value based care.
Nugget Summary (NS) <— Out of Control Acronym
“even the in-house abilities of large health systems have gaps”…
“conducts data analytics and has software to help providers track patients throughout an episode of care”…
“helps physician organizations navigate a variety of value-based models with proprietary software that manages all of them in one place”…
“software translates raw patient data into the proper formats for reporting”…
“If providers want measures that are able to represent the care that they’re giving, then those measures have to be complex, […] and they’re going to need technology”
If read the article closely you might have caught another submission of “When Acronyms are out of Control”.
Plaintiff: Clear Understanding
Defendant: Using an Acronym within another Acronym
Exhibit A:
Centers for Medicare and Medicaid Services issued its final rule implementing the Medicare Access and CHIP Reauthorization Act, or MACRA,
Exhibit B:
The Children’s Health Insurance Program (CHIP)
What did you think of the article? What is your favorite acronym?
Let us know in the comments below.
