Here’s how you dramatically increase your revenue doing the same things you’re doing now.
Look into Special Needs Plans (SNPs).
These are insurance policies tailored to the needs of the underserved.
The laws allowing Medicare Advantage organizations (MAOs) to create these had been temporary. As of late last year, it was changed to be permanent.
And boy have MAOs responded.
There are some fantastic policies out there. Policies that create real value for their beneficiaries, with the tools to help any provider meet the cost challenges of the underserved head on.
Why is this important to you?
Because, in an effort to shift resources from affluent beneficiaries to the underserved, CMS has been steadily changing the formula for RAF calculation.
That means higher monthly capitation for those who qualify for Medicare through disability, or who have both Medicare and Medicaid, or who qualify for special programs.
These insurance policies are specifically tailored to attract such beneficiaries to your healthcare system—and provide you real opportunities to impact their health and the cost of their care.
The payment changes are real and significant.
If you just keep on doing what you’re doing with your population of relatively affluent seniors, you’re going to see your revenue drop.
So, stay ahead of the curve, talk to your insurance partners about Special Needs Plans and how they can work with your patient population.
In the end you’ll generate more revenue by delivering the same care.