From the January 2017 issue of HealthCare Business News magazine
• The next step is to use the same calculation for that space if it were to be converted to an ultrasound-guided minimally invasive surgical procedure room. There would be the additional cost of the disposable biopsy needles and the per procedure cost of the ultrasound machine, but that would be covered by the level of payment for procedures listed in the charts on this page. Add in contracted rates for private insurance carriers and then also factor in accepted Medicaid patients to get a more complete picture.
• Learn about the need in the community for these procedures. Visit the American Cancer Society website for its annual facts and figures book on cancer statistics to see what the rates are for breast cancer in your state. Go to the Centers for Medicare and Medicaid Services website. Open the file regarding utilization to see how many of these procedures Medicare reimbursed in the most recent year of data.
• With this beginning of a plan, sit down with a practice administrator or financial staff at the hospital. Partner with them on putting together a complete business plan to see if expanding these services is right for the facility and community. Successful people are those who take risks. It seems that educated risks regarding expansion of health care services will help during this uncertainty to increase stability, but also gives a leg up when the replacement for the ACA is finished.
About the author: Jill Rathbun is managing partner at Galileo Consulting Group.Back to HCB News