Like other independent practices, Oakland Park, Fla.-based Midland Medical had difficulty finding the time and resources to fulfill quality reporting tasks, monitor patient outcomes and track costs, according to RevCycleIntelligence.com.
Seeking a solution, Midland Medical implemented software developer Stellar Health's web-based tool, which consolidates financial and clinical data from several sources to help independent practices succeed in value-based care.
Three insights:
1. The software gives providers a checklist of actions to complete for value-based care contracts. It is designed to incentivize physicians by distributing payments to those who complete checklist items and close care gaps.
2. Midland Medical has recorded fewer care gaps, higher coding accuracy and more accurate hierarchical condition category scores since implementing the tool.
3. Midland Medical providers are now more comfortable participating in value-based care contracts, CEO Michael Supino told RevCycleIntelligence.com. He expects the practice will enter into more advanced contracts going forward.