The new year is not yet a week old and already the healthcare industry is bracing for another turbulent year. Love the PPACA or loathe it, it is a source of anxiety for healthleaders. Republicans in Congress are already vowing to repeal the legislation and say they will put the matter to a vote before President Obama makes his State of the Union Address. If the law is rolled back, the consequences will be complicated for providers of all sizes.
Another source of uncertainty for healthcare leaders is the roiling business climate that is spawning a high volume of hospital mergers and acquisitions. How does one form a capital plan, conduct fundraising, or implement an EHR system, if a takeover is imminent?
The truth is, uncertainty is a fact of life and the best way to proceed amidst uncertainty is to identify weaknesses, and resolve to do better. Here are six initiatives that community hospitals should undertake this year:
1. Reduce readmissions
In less than two years, hospitals with higher than expected readmission rates will face federal penalties. There are numerous causes of hospital readmissions—from misdiagnosed pneumonias in older patients, to easily avoidable medical errors—but a closer look at the problem reveals some cutting-edge ideas for slashing readmission rates. Don't wait for the threat of federal fines.
2. RAC-proof hospital admissions
Now is the time to make your facility RAC-ready for 2011. The best approach is to have a strong compliance plan, says HCPro director of Medicare and Compliance, Kimberly Anderwood Hoy, JD, CPC. For example, wrong-setting" denials account for a third of all Recovery Audit Contractor reimbursement refusals, but can be avoided if hospitals work diligently toward the goal of ensuring consistent admission screening among patients.
3. Join a GPO
Group Purchasing Organizations have been shown to improve transparency, accountability, and fair product discounting by the Government Accountability Office. Last month, for example, Appleton (MN) Area Health Services, a community-owned critical access hospital, announced it had entered a volume purchasing agreement with Sanford Health. Sanford's volume purchasing power saves partner hospitals money.
4. Bring in some hospitalists
Physician shortages are on the rise and can be particularly acute in rural settings. One solution is to contract with hospitalists, a move that is gaining favor among hospital chiefs.
5. Raise patient satisfaction scores
Competition among community hospitals is keen. One way a facility can stand out is to elevate its patient satisfaction scores. A service as simple as room service, being handed an iPad on admission, or even being offered a beer or glass of wine can go miles toward making patients feel better about their hospital stay.
6.Implement an EHR/EMR system
Don't be swayed by a recent RAND study that called into question the value of electronic medical records. It's time to plan for implementation now, and it's long past time to get physicians and other staff on board. Federal EHR incentives registration began this week, so there's no time to waste.