501. Improve Hospice Financial Operations Through Benchmarking is proudly presented to you by National Association for Home Care & Hospice. Thank you. We hope that you enjoy your course.
Description:
Hospice organizations benefit from a periodic review of financial and revenue cycle operations to identify and address concerns about performance and viability. While employing the right benchmarks to assess revenue, expenses, and the operational statistics that drive them, the keys to being a MAD success are Measurement, Accountability, and Discipline. Given the heightened scrutiny of the hospice benefit and MedPAC’s continuing interest in payment reform, providers need to ensure what is measured is accurate and meaningful, automating the measurement process as much as possible. Every metric should be tied to an accountable leader within the organization and all staff should be accountable to at least one metric. Discipline is the third key to ensure success, creating habits around using data, building a culture of valuing data, and addressing basic processes, roles, and workflows to continuously identify and prioritize opportunities for efficiency and improvement.
Learning Objectives:
• Explain the latest regulatory changes impacting hospice finance
• Develop key indicators to assess, prioritize, improve, and monitor revenue cycle performance for optimizing cash flow
• Identify strategies for minimizing payment risk for hospice operations
Faculty:
Zaundra Ellis
Mark Sharp, CPA