Taking a more strategic approach to payer relationships may be the key to surviving new reimbursements models.
As the healthcare industry moves away from fee-for-service reimbursements toward a bundled payment model that holds providers financially accountable for an entire episode of care, hospitals and health systems need strategies for maintaining cash flow and economic viability during the transition.
Despite the urgent need to adapt to the new reimbursement environment, healthcare organizations do not appear to be rethinking their payer relationships in large numbers. In the HealthLeaders Media Industry Survey 2014: Forging Healthcare's New Financial Foundation, while 39% of respondents cite reimbursement as being among the top three areas where their organization must improve in order to reach their financial targets within the next three years, only 25% include forming strategic partnerships with payers in the top three.
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Source: Health Leaders Media