Here are five tips:
1. Evaluate your currant financial state. Before implementing an ACO, assess your practice’s current financial standing because ACOs may be expensive to establish. Additionally, ACOs should apply financial analytics to budgeting. Calculate the financial investment ACOs would deliver to population health management.
2. Analyze your patient populations. ACOs need to know their populations so they can provide quality care based on needs. ACOs may perform patient risk stratification and comprehensive population health management to better understand their population. Consider using registries to track patients’ health status and ensure that they are getting proper care.
3. Talk to insurance companies. Working with payers can help improve quality and performance outcomes. Working relationships with payers are crucial as many providers obtain a large portion of their revenue from payers conducting managed care.
4. Invest in technology. To report quality measures, ACOs need dependable health IT infrastructures. Electronic health records may prove essential in managing population health. Work with health IT vendors to understand key trends in the field.
5. Work with other experts. Seek assistance from consultants and other professionals to devise the best ways to transition to value-based reimbursements.
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