New Healthcare Payment Models

With ICD 10 transition around the corner payment reforms in the healthcare industry can be confusing. However, the new healthcare payment models make the whole exercise much simpler. Healthcare providers are required to change their economic incentives to encourage value rather than volume. A fee for service or FFS model is the traditional way that many healthcare providers are paid. Over the course of a long treatment individual expenses such as blood tests, CT scans, and doctor’s visits can add up to a significant sum. Healthcare technology companies like Jvion offer predictive modeling healthcare with healthcare benchmarks analysis to help providers define their clinical quality improvement goals.

Patient centered payment models

 

Patient-centered medical homes can also benefit from these new healthcare payment models. They provide set monthly payments in addition to existing funding models to fund a team of primary care professionals. This could include physicians, medical assistants, psychologists, specialists, and nurse practitioners, to name a few. The team works closely in building a strong network with patients and caregivers. The funds can be used to hire nurse or provide special care and attention to high risk patients with the objective to reduce visits to the emergency room and other related problems that may arise in the future.

Forecast Readmissions and Financial Losses with a Patient-Phenotype Platform

Jvion strives on to build a patient-phenotype big information system that utilized innovative research and strong device intellect to estimate activities within a medical center. They modified these activities into the medical and financial use cases that consist of their RevEgis solution. However, the RevEgis patient-phenotype centered big information device learning system can help medical centers estimate which sufferers are more likely to drive their Efficiency Ranking up or down, stratify those sufferers depending on risk of having more intense results and apply focused treatments that would best benefit the affected person and have effect on helping the Total Efficiency Ranking. The system informs physicians and supervisors about maximum care process for an individual patient right from the time of first touch to discharge and beyond.

Moreover, RevEgis is considered among one of the best cost reduction strategies that prevents the economical effects associated with medical difficulties such as hospital readmissions relevant threats along with other revenue-related activities such as payor acquiring and ICD-10 using predictive intellect. Through a high level patient phenotype design, RevEgis generates more workable ideas that help medical centers focus on preventions to quit compensation failures by avoiding the medical conditions resulting in financial charges. Through this same strategy and technology, RevEgis forecasts other areas of leak within the income pattern so that providers can proactively quit the loss of sources before they spend their hard earned money. 

Find the Best Financial Analysis Tool in the Market

Jvion’s RevCore solution is the highly effective and smooth financial analysis tool available easily in the market today. This is because Jvion is being able to pin-point ICD-10’s exact economical impact by department/specialty, DRG, MDC, process rule, analysis rule, doctor, and programmer. Through this remedy, providers get an ICD 10 historical claims analysis that shows their unique case mix and business structure. It is exclusively designed, pushes risk minimization through workable suggestions, and better adjusts to ideal and functional main concerns. Moreover, RevCore is the prime component of their ICD complete solution. It uses predictive technological innovation to comprehend your ICD 10 financial/revenue threat and provide an extensive effect research.

Jvion's Application Alternatives Drive Financially Neutral 

Jvion helps doctor's methods and out-patient features evaluate ICD 10's economical threat, develop strategies to address that threat, and improve payments within the ICD 9 scheme

Outpatient Remedy that Provides ICD 10 Financial Neutrality

Jvion's out-patient software solution allows an ICD10 financial/revenue fairly neutral transformation through a traditional statements research.

Through RevCore, you will easily come to know:

• Which doctors are associated with high risky codes?
• Where to concentrate certification and training efforts
• The techniques and connections associated with high business risk 
• The ICD-9 requirements that have the biggest possibility of medical requirement triggers
• How to best arrange your examining way to economical threat areas and much more.

Analyze Disparate Data to Identify Fraud Waste and Abuse

The healthcare industry is going through a seismic move designed to reduce healthcare fraud, waste and abuse and improve the quality of patient care and reduce financial looses. However, the prime aim is to decrease management pressure and reduce waste within the system, the near-term effects actually increase the cost of running a medical center and reduced overall provider earnings. But a million dollar question comes how providers are impacted from Fraud Waste and Abuse:

• Increased technology execution expenses as providers try to adhere to required transformation dates
• Increased functional expenses due to improved returns, are attractive, and claim adjustments
• Longer Consideration Receivable periods
• Increased income threats such as reduced reimbursements
• Increased patient bad debt

So, if you are looking for the Healthcare fraud waste and abuse solution; Jvion offers big data solutions to address regulating conformity and get ready providers for new payment models. Also, the company uses big sets of disparate data from several resources to appear sensible of current threats and future opportunities as a result from the ICD-10 program code transformation.

Easing Transition Problems from ICD-9 with Jvion’s Comprehensive ICD-10 Software

With the ICD-10 deadline of October 15, 2015 fast approaching, there is a lot of work to be done for many healthcare providers even though the date seems still far away.

All-Round Coverage

This deadline and conversion from ICD-9 to ICD-10 also covers healthcare providers, clearing houses, and other organizations which come under the Health Insurance Portability and Accountability Act or HIPAA umbrella.  Fortunately, organizations like Jvion LLC have come up with some exclusive ICD-10 software that will be very helpful in making the transition. There are individual programs available from Jvion that can take care of financial risk assessment like their Revcore software, RevWalk that gives hospital managers revenue neutral crosswalks, RevTrend that provides informative trends and analysis based on ICD-10 operations data.

Future Management

For healthcare providers who are interested in the whole package, Jvion has the ICD complete which eases the migration from ICD-9 to ICD-10 and continues to provide essential data even after the transition is complete. ICDcomplete is cloud-based software package which can be accessed through Jvion’s exclusive Bonobo Big Data platform and is the best software currently available in the market. It can forecast income and expenses through ICD-10 financial simulation using complicated algorithms. Other solutions that it can perform are to give hospital managements an idea of their expected revenue with the ICD-10 financial simulation program along with clinical documentation, dual coding, training facilities, etc. After the transition, ICDcomplete can provide live monitoring of reimbursements by analyzing key patterns and predicting any sudden upsurge.

Comprehensive Bespoke Software Solutions for Patient Disease Prediction from Jvion

The Patient Protection and Affordable Care Act which is also known as the Affordable Care Act came into existence in the United States of America by Federal statute on March 23, 2010.

Prevention and Care

Since this Act was endorsed, hospital and other healthcare providers were under a financial burden and remaining profitable would require drastic measures or good foresight. One of the best measures that could be put in place was patient disease prediction modeling. Using bespoke software, companies like Jvion LLC have come up with solutions like RevEgis, proprietary software that can provide patient-level predictions; predictive modeling for infections or diseases can make a massive improvement in clinical outcomes while reducing expenses. Data collected from past and current patients is stored in electronic records; it can help hospitals monitor for future prevention and care programs.

Prediction Software

Another drain on hospital income and revenue is the problem of a hospital acquired condition or infection. To this effect, Jvion LLC, a pioneering healthcare solutions provider, has introduced the RevEgis patient-phenotype big data solution. This software has proved beyond a shadow of doubt that with optimal data, it can help in predicting any hospital-acquired condition, which prevents patients from picking up infections and other problems when they come in for treatment as well as provide substantial savings for the management. Unwarranted additional hospital stay is not welcome by the patients as well as the hospital management as it results in tremendous wastage of resources and causes problems for patients.

There’s Much More To ICD 10 Revenue Neutrality Than Coding

The transition to ICD-10 will initially lead to a decrease in cash flow for healthcare organizations. Officials recommend that organizations be prepared and budget for as much as 40 percent more in outstanding payments. If you are prepared the chances of minimizing the impact is greater. The key is to gain the information you need to make income projections by having a clear picture of how you clinical activities related to ICD-10 codes. Accurate financial decisions need to be made in areas such as contracting, proposed ICD-10 reimbursements, Accountable Care Organization propositions and its rewards and risks, and more.

One of the important questions to answer is whether your current documentation is enough to gain ICD 10 Revenue Neutrality coding. Another factor is whether the diagnosis related group or DRG assignment of your visits will change under ICD-10.

Is Your Documentation Sufficient?

Payers are alleged to focus their efforts on ensuring ICD 10 Revenue Neutrality where every service provided before and after the deadline for ICD-10 conversion will offer the same reimbursement. However, it is essential to have the right documentation to be ICD10 Revenue Neutral. Providers ought to evaluate charts from their top outpatient diagnosis codes and diagnoses related groups. This must not only focus on coding but areas where documentation can impact the final diagnosis. Jvion RevCore makes ICD 10 Revenue Neutrality much easier to achieve.

The solution is designed to identify critical risk areas and develop a plan to mitigate those risk areas. A prominent Southeastern hospital used RevCore’s historical claims analysis to provide insights into the ICD-10 planning, training, mapping and conversion, and documentation activities that delivered most value for their organization.