“How are you going to pay for a value based care transition?”
Was the question ACO leaders asked the panel of experts at a recent CMS conference entitled: State of Accountable Care. It’s a good question. Out of the 32 Pioneer ACOs who started the program in 2014 only 22 are still in the program. Of those 22 still in the program, only 18 had gross savings in the first year and 14 reported losses. Of those who reported shared savings only 1 in 4 qualified for a shared savings bonus (1). Outside of CMS making payment adjustments to the model, three main solutions were given to ACO’s trying to wean from fee for service and move into value based payments: higher patient engagement, improved IT, increase system efficiency. Many of the panelists agreed they had to make investments now and are still looking for the pay off in the future. There is an easier way to make the value based payment transition by using ThoughtSwift.
ThoughtSwift helps provider led ACO’s make the transition and realize the Triple Aim network wide without disrupting workflow. ThoughtSwift empowers ACOs to stop giving service away for free, provide workflow structures that encourage patient engagement, and access ‘Connective IT’, not expensive IT.
Stop Giving Service Away for Free
Fee for Service is not a long term strategy. Reimbursements will remain flat and increases will only come through providing additional service. However, successful transitions to Track 2 begin with fee for service. Don’t miss billing opportunities available with Fee for Service. With provider led ACO’s the variables in workflow, and documentation are wide. ThoughtSwift makes the billing and benchmark component of your group a system that works with every workflow. ThoughtSwift also gives the quality improvement director the analytics needed to ensure reporting at 100% every time even when the benchmarks change.
Only 1 in 4 ACO’s qualified for a shared savings bonus
ThoughtSwift has income producing solutions for specialty providers as well as primary care providers. Best of all, the ThoughtSwift system pays the provider. The goal for every ThoughtSwift clinic is to earn an additional $100,000 per provider per year. With ThoughtSwift the clinics can stop giving away billable services and start gaining.
Improve Patient engagement
Improving patient engagement helps reduce patient churn. Less churn, greater growth. The ThoughtSwift system improves communication in the exam room, and assists providers to quickly develop treatment plans for patients. ThoughtSwift is helpful for providers, but also patients. ThoughtSwift encourages patients to understand their health status visually, to set goals and next steps for improvement. Upon returning home, chronic care patients report feeling overwhelmed, not knowing where to start and have difficulty communicating health directions to caregivers. ThoughtSwift eliminates the confusion with clear health status communication to patients and clear goals set by patients to increase follow through. Clarity improves CAHPS scores and patient engagement and finally, patient churn. ThoughtSwift enables patients to be more engaged with their health and inspired to get better.
Collaborative IT Solutions
EMR systems are not without limitations. The implementation of any new system is expensive and disruptive to the clinic workflow. ThoughtSwift works with all major EMR systems to seamlessly interface patient information and benchmarks without disrupting workflow. For out of network providers, social service organization or specialists, ThoughtSwift sends patient information directly to those providers HIPAA securely no matter what system they have or do not have. All care team members work from the same information to deliver improved outcomes. ThoughtSwift analytics make quality reporting easier. Direct patient information generated by ThoughtSwift enables ACO directors set future directions quicker, develop needed services for their community and open up grant opportunities never before accessed. Collaborative IT is the solution, and ThoughtSwift is the way to make collaboration affordable and accessible.
How does an ACO pay for a value based care transition? ThoughtSwift is the perfect solution. Reporting benchmarks, improving CAHPS score, increasing patient engagement, improving revenue, collaborating with other care team members, ThoughtSwift provides cost effective solutions to provider-led ACO organizations. For more information how ThoughtSwift can lead your ACO toward success contact:
Marketing and Distributor Relations Manager
Phone: (469) 447-4309