Every palliative care program needs a strong financial strategy for long-term effectiveness. In this webinar, SimiTree Clinical Consulting Manager Maureen Kelleher will present a comprehensive approach to managing the finances of a palliative care program. Joined by SimiTree Principal Todd Montigney, they will address common concerns regarding program funding, Medicare billing and coding, insurance contracts, and managing expenses. Attendees will receive the full presentation materials complete with employable tactics for protecting your agency’s bottom line.
Key Takeaways
- An established and growing palliative care program may realize 5-10% profit margins
- Medicare Part B will reimburse for palliative care home visits only if they are medically necessary and the proper documentation has been provided
- To obtain the maximum reimbursement from private insurances, palliative care programs need to be “in-network”
- Gaining access to patients early in the disease process is essential for financial success
BlackTree Recommends
- Set up an account with the Council for Affordable Quality Healthcare (CAQH) to keep all the program’s provider information in one location for insurance companies to access during credentialing
- Control staffing utilization with a priority to reimbursable positions
- Ensure providers focus on patient-facing responsibilities
- To avoid losses, adhere strictly to budget plans and scrutinize costs
