Pay for Performance Programs
Many insurers and payers, including the Centers for Medicare and Medicaid Services, are now offering optional pay-for-performance programs to healthcare providers. If you choose to participate in one or more of these programs, you will have the opportunity to earn additional compensation on top of your base pay when the quality of the patient care you provide meets certain standards. Practice Provider can help you meet these standards and maximize the benefit of participating in pay-for-performance programs.
Practice Provider's Pay for Performance Services
Practice Provider can assist you in the creation and implementation of protocols that will help you meet the third-party quality measurement requirements utilized in pay-for-performance programs, including the Health Plan Employer Data and Information Set (HEDIS), the National Committee for Quality Assurance (NCQA) and the Physician Quality Reporting Initiative (PQRI). This will allow you to qualify for extra compensation on a regular basis, which increases the profitability of the practice.
Meeting pay-for-performance standards often requires an investment of time and/or money, especially during the initial phases of the project. In addition to developing protocols to meet payer and insurer standards, Practice Provider can also help you measure the effectiveness and value of participating in these programs. Our experts will analyze the investment required and compare it the benefits the practice receives in order to determine the amount of value participation brings to your practice.
Pay-for-performance is still a relatively new concept in the healthcare industry. With Practice Provider, you can make sure that your practice is taking full advantage of this revenue-building opportunity.