How Chronic Care Management Can Help Cut Expenses and Boost Revenue During A Pandemic

With an estimated 133 million Americans affected by chronic disease during a global pandemic, the implementation of accessible and safe services has never been more important. Providers searching for ways to safely care for patients during this time while also growing their bottom line can accomplish this through the utilization and implementation of CCM services. Chronic Care Management (CCM) has changed lives for the millions of individuals in the United States suffering from one or more chronic conditions. Started in 2015 by The Centers for Medicare and Medicaid Services (CMS), qualified providers are able to receive reimbursement for delivering this form of care to eligible patients.

Understanding how to effectively offer Chronic Care Management to patients while still reducing monthly expenditures and boosting revenue during a global health emergency is not as tricky as it seems. For providers who may be struggling financially through the duration of the coronavirus pandemic, implementing CCM can help.

The Financial Impact of Chronic Care Management:

1)    In-House vs Outsourcing CCM

Healthcare workers are on the frontlines of patient care during the coronavirus pandemic and they do not need any more work added to their plate. Providers are able to earn up to 85 thousand dollars a year per billing physician at their practice through Chronic Care Management reimbursements, yet are unable to reach it most of the time. This is true, even when there is not a worldwide pandemic.

So how are providers able to optimize their revenue stream without overspending their resources to run a CCM operation? Providers who outsource Chronic Care Management services are able to maximize their reimbursement and see the highest return on investment. This means that providers are able to help their chronically ill patients receive the quality attention and care they need during this intense period in time, while simultaneously cutting expenses and boosting revenue.

Chronic Care Management Makes Sure Your Patients Are Taken Care Of

During a time where everyone is being urged to stay home and away from doctor’s offices and hospitals, patients managing chronic conditions still need the help of their physicians. Through the utilization of Chronic Care Management services, patients are still attended to while your practice focuses on the influx of COVID-19 cases.

Your CCM services vendor will act as an extension of your practice, making sure the lines of communication remain open between Medicare patients and your office through the duration of the pandemic and thereafter. Your vendor will work with patients one on one, reviewing their personalized care plan, tracking their medications, and reporting back any questions or issues the patient might be having.

Through the implementation of chronic care management, your practice can simultaneously cut costs, boost revenue, and continue offering quality care to patients during the coronavirus pandemic. Once the pandemic has reached its end, your CCM services vendor will still be there to help you optimize your reimbursement and offer life-saving care to eligible Medicare patients.

To learn more about how your practice can implement Chronic Care Management, click here.