Dr. Cathy wrote me to ask:
“Thank you for all your writings. My comp formula is being changed so that I can lose or gain up to 20% of my RBV revenue based on how much my money my Medicare Advantage patients cost. What should I do?”
You don’t say how many Medicare Advantage patients you have, but suddenly those folks have become very valuable too you.
If you simply care for them as you do your other fee-for-service patients, you’ll lose that twenty percent of your income.
And don’t worry about coding or meeting metrics, your health system and insurer will undoubtedly have systems in place to perform such activities.
Rather, do what you can as your organization allows to treat those patients in such a way as to develop a relationship with them.
- Make certain you have extra time with them at every appointment.
- Give them your home phone number with instructions to contact you before consuming any health care.
- Take steps to ensure that you see them at least once a year for a routine encounter—do a home visit if you have to.
If you just do those three things, you’ll at least break even—and probably do better.
But in reality, you’ll find you actually enjoy caring for those patients more.
And as a result, they will trust you more to collaborate over their care decisions.
And you’ll find that “break-even” will actually represent a gain—for both of you.
Need help maximizing your financial performance and professional satisfaction under your compensation formula in a manner that serves YOUR goals rather than your employer? Contact me at 636-667-6325 and let’s find out what we can do to help you succeed—together.