VINTAGE: Pay-4-Performance Healthcare

Pay for Performance Initiatives

[By Staff Writers]

Of course, consumer directed healthcare trends and fee transparency increasingly mandate physician economic accountability, such as in the P4P initiatives, but CMS may also begin profiling physicians and targeting those it deems inefficient sometime next year, as well.

In May 2007, Herbert Kuhn, acting deputy administrator of CMS, told a House subcommittee that the agency will have the data and computer capacity available to do tracking as soon as mid-2008.

To monitor efficiency, CMS would compare levels of tests physicians order for certain types of patients to tests ordered by other doctors who achieve similar outcomes. The agency would then contact the physicians whose testing patterns seem to be out of line. No doubt, the effects on private pay-for-performance [P4P] initiatives is obvious.  Kuhn told the subcommittee that his largest concern was figuring out how to use the data to help physicians grow more efficient.

Assessment

To date, the agency hasn’t established plans to link efficiency measures with reimbursement changes. If it wants to do so, Congress would probably have to enact new legislation, according to several policymakers.

Conclusion

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Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

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FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors

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Pay-for-Performance Blunders

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P4P Confusion Reigns

[By Staff Writers] 

dhimc-book1The Minnesota Medical Association recently reported that its P4P initiatives create confusion and unnecessary administrative work for medical providers.

The association looked at programs by Blue Cross and Blue Shield, Bridges to Excellence, HealthPartners, Medica, PreferredOne, UCare and the CMS; complaining that the nine pay-for-performance programs used by state insurers each have subtle differences and often measure performance differently.

The study also found that the programs seldom adjust for variations in patients’ condition, and don’t take into account economic or demographic differences among patient groups. 

Assessment

And so, will P4P initiatives be just another administrative nightmare, or promote real medical quality improvements.

Conclusion

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MD Salary versus Net-Worth Conundrum [.ppt slide-show presentation]

“The Tale of Two High School Graduates”

[By Private Banker Jorge Russe; MBA CMP candidate]

fp-book3

“Of the 125 medical schools in the USA, only one of them to my knowledge offers a class related to saving or investing money.”

– William C. Roberts, MD 

For more insight into the physician salary and wealth accumulation disparity [inverse relationship], feel free to review this .ppt presentation by Jorge Russe MBA who is a private banker for physicians in Chicago.

Rich Doctor’s?- Maybe Not!

Money and Medicine

It’s not strictly-speaking P4P, but it does demonstrate that the need for doctor focused financial planning is more acute than ever. So, what is your own tale?

Ann Miller; RN

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Conclusion

Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

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Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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BLOG: www.MedicalExecutivePost.com
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors

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Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners(TM)