Outpatient Surgery Magazine - Subscribers

2018 Salary Survey - Outpatient Surgery Magazine - January 2019

Outpatient Surgery Magazine, providing current information on Surgical Services, Surgical Facility Administration, Outpatient Surgery News and Trends, OR Excellence and more.

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Page 79 of 124

so with confidence knowing that you totally understand your marginal opportunities. Offer the payers a reasonable discount — 10% to 15% less than the all-in reimbursement they currently pay for 90-day episodes of care for inpatient joint replacements performed in local hospitals. Insurers will likely be interested in the opportunity to pay a lower flat fee and offload some of the risk of care to your group. The key is to offer a competitive, but fair, price — and have the quality data to support the position that your group offers the highest value for total joint replacement patients in your region. If you understand your true costs of care, constantly manage your expenses and build in rea- sonable margins, there will be savings for insurers and profit for your group in the bundle. 5 Look for cost-saving opportunities The place to cut costs is not in your data collection and manage- ment program. It's essential to have at your disposal clean, credible and actionable data in 3 categories: cost, quality and patient-report- ed outcomes. With this information at your disposal, you'll be able to identify money-saving opportunities. Review the data on a weekly basis to look for outliers and provide constant feedback to providers who stray from the standardized care they need to provide. Inevitably, more outliers and less standardization result in more expensive care. Conduct detailed annual reviews of your clinical protocols and outcomes to further eliminate waste and unnecessary services. Proof positive A year after we implemented our bundled payment program, our patient satisfaction scores jumped from the 84th to the 99th per- centile, readmission rate dropped from 7% to 2% and implant costs 8 0 • O U T PA T I E N T S U R G E R Y M A G A Z I N E • J A N U A R Y 2 0 1 9

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