Speakers: Max Reiboldt and
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Many practices judge productivity by charges, receipts, collections or the number of encounters. Fees, however, can differ from payer to payer. It is possible for a practitioner to see 25-30 patients a day and still not be "productive" in terms of what those encounters actually contribute to the bottom line.
Once understood, The Relative Value Unit (RVU) system can be a powerful tool to help you manage your practice. They are useful in analyzing and managing your costs, justifying your fee schedule, and negotiating with payers. And for physician compensation, application of RVUs for different compensation models is a consistent and impartial way to align physician pay.
Even though RVUs were created as a payment method for Medicare, they have become a valuable tool for tracking provider productivity, measuring and defining costs, negotiation of managed care contracts, compensating physicians, and benchmarking key indicators. In this session you will discover practical applications of RVUs and vital information about work RVUs. You will be able to track provider productivity using RVUs, analyze costs using RVUs, and define how RVUs are used in managed care contracts
Hear Max Reiboldt and Justin Chamblee from Coker Group, on these key objectives:
- A brief review of RVUs: Their history and how they are managed
- Discussion on how RVUs may be affected by the ongoing changes in accountable care
- Key ways RVUs are currently being used in healthcare for fee-for-service reimbursement, productivity, and compensation
- Recognize how the RVU system translates into money for your practice through the RBRVS system used by Medicare and other payers
- How to employ the RVU system for practice analytics to analyze and manage your costs, justify your fee schedule and negotiate with payers
- Apply RVUs as a productivity indicator: measure and compare the productivity of your providers by using the Work RVU
- Learn how to bring RVUs into play to compensate physicians and learn about key issues in using RVUs for compensation
- Challenges in the application of RVUs
BONUS! Future of RVUs and the impact of value-based reimbursement.
Max Reiboldt is president and CEO of Coker Group with over 40 years of total experience, the last 21 years specifically focused on healthcare. Mr. Reiboldt provides sound tactical and strategic solutions to hospitals, medical practices, health systems, and other healthcare entities through keen analysis and problem solving.
Working with organizations of all sizes, Reiboldt engages in consulting projects with organizations nationwide. His expertise encompasses physician/hospital alignment initiatives, hospital service line development, clinical integration initiatives, financial analyses, mergers and acquisitions, hospital and practice strategic planning, ancillary services development, PHO/IPA/MSO development, practice appraisals, and most recently, "accountable care era" consultation. As the industry moves to adapting to many changes in response to healthcare reform, Reiboldt is providing hands-on consultation to hospitals, health systems, and large practices.
Reiboldt has led the Firm's growth since 1996 to its position today as one of the leading healthcare consulting firms in the U.S. and abroad. He is an accomplished public speaker on healthcare management topics and has authored or contributed to many of Coker Group's 60-plus books. Recent titles include The Healthcare Executive's Guide to ACO Strategies, and the recently published The Healthcare Executive's Guide to Physician-Hospital Alignment (2013, Health Leaders Media).
A graduate of Harding University, Reiboldt is a licensed certified public accountant in Georgia and Louisiana, and a member of the American Institute of Certified Public Accountants, Healthcare Financial Management Association, and American Society of Appraisers. Mr. Reiboldt is also a member of the American College of Healthcare Executives.
Justin Chamblee works with clients in a variety of strategic and financial areas, mainly dealing with physician compensation and hospital-physician transactions. This includes the development and redesign of physician compensation plans for private practices and hospital-employed settings, as well as providing guidance to hospitals, physicians, and legal counsel as to the appropriateness of transactions between a hospital and a physician.
Justin frequently speaks on conference faculties in the healthcare industry and has authored several books in cooperation with publishers such as Greenbranch Publishing, American Medical Association, and HealthLeaders Media. Prior to joining Coker Group, he worked as a senior associate for PriceWaterhouseCoopers in their audit practice. Justin has a BBA in Accounting and a Master's of Accounting from Abilene Christian University. He is licensed as a Certified Public Accountant in the State of Texas and is a member of the American Institute of Certified Public Accountants.