How much time each month does your practice spend reacting to patient requests and providing outreach to high-risk patients?
If you don’t know, then you’re missing an important source of revenue.
When the Center for Medicare and Medicaid Services (CMS) launched reimbursement for chronic care management in 2015, there was a single reimbursement code (99490) for spending 20 minutes a month to manage care for patients with multiple chronic conditions. Reimbursement for those 20 minutes averaged $42/per patient/per month.
Five years later, the number of billing codes has exponentially grown to ~20 for a wide variety of remote care services. These codes can also be combined and add up to as much as $234/per patient/per month. CMS sees remote care as an important component in achieving value-based care.
Most practices don’t have time to manually capture and document time expended, and DIY efforts can quickly negate the new reimbursement. That’s why ChronicCareIQ incorporates sophisticated business intelligence that maximizes reimbursement, ensures proper documentation, and mitigates the risk of overbilling.
The ChronicCareIQ platform automates both remote care and time tracking for billing purposes. The result is a healthier bottom line for practices and better outcomes for patients.
Here’s why practices are choosing ChronicCareIQ:
- Get paid for services you already provide – Most practices interact with their at-risk patients on a regular basis. A remote care management platform can capture that time and aggregate it for monthly reimbursement purposes.
- Recurring revenue – Remote patient care is not a one-time event; instead, it’s a new way to connect with patients and provide ongoing management of their condition. You get reimbursed every month for each patient you manage – and that can add up. Check our calculator.
- Optimize staff time – Whether your staff is in the office or working remotely, they can log in to view patient status and follow up with those patients identified as trending poorly. And each time they review the status, reach out to a patient or coordinate care, the time is captured and aggregated for billing.
- Improve care quality – Seeing patients with serious chronic diseases on a quarterly basis doesn’t tell physicians what is occurring with patient health in those three intervening months. You don’t know whether their condition is improving or deteriorating; without that information, you can’t intervene immediately to stop a downward slide.
If you’d like to learn more about remote care or ChronicCareIQ, schedule a time to speak with us today.