With every passing month, practices are missing out on the revenue potential of providing CCM. Implementing CCM is a necessary step towards achieving success with MACRA.
This means there is a possibility that practices that do not implement CCM could be at a disadvantage as the industry continues its shift away from fee-for-service moving rapidly towards value-based care.
When conducted properly, CCM services help practices generate revenue beyond what CCM codes provide. It helps patients with chronic conditions better manage their self-care and optimize their health while reducing unnecessary utilization of health services and reduce associated costs.
Moreover, proper management of chronic conditions can enhance patients’ lives tremendously; diminish complications; alleviate costly methods, reduce emergency room visits, hospitalizations, and readmissions; and reinforce patient engagement. With the industry’s latest reimbursement models, there is tremendous value in the way CCM can improve patient satisfaction and health, which can lead to better quality and performance scores.
A Proven Comprehensive Solution:
25% of practices nationwide can expect net revenue losses due to opportunity costs of face-to-face visit time if physicians were to deliver all CCM services themselves. Practices that outsource their CCM services to non-physician providers (CMAs, RNs, or LPNs) experience significant net revenue gains. If non-physician CCM providers were to deliver CCM services, their net revenue will substantially increase.
If only 50% of eligible patients enroll in a CCM program, physicians can earn more than $75,000 of annual net revenue. Outsourcing Chronic Care Management is a shimmering opportunity for physicians to increase their outcomes, help more patients and build a new revenue stream by providing reimbursement for the extra time and effort they are already investing in caring for chronic patients outside the traditional office visits.