A message from Panacea President and General Manager, Ted Barduson

Dear Healthcare Colleagues,

Research shows that in moments of uncertainty, involving a significant decision, people rely on independent experts for help.

We turn to someone who can help us wade through the confusing mess of options.  We look for an unbiased third party who is an authority and can point us in the right direction.

The healthcare industry has become increasingly complicated, and between the rapid advancements in technology and the increasing regulatory burden, it promises to become more difficult to navigate. To stay on top of it, healthcare-professionals must keep up with current topics and updates on a variety of fronts or put another way, find the expert.

Insights Gives You Expert Insight to Today’s Challenges

At Panacea, we developed Panacea Insights™  thought-leadership blog in response to the increasing complexities of revenue cycle management. Organizations need a central platform to rely on for the latest information and expert advice, so Insights offers articles, white papers, webinars, and other resources that give you access to our experienced consultants. Panacea’s experts have decades of real-world clinical coding, financial, and software development experience, and they consistently lend their expertise to help healthcare organizations nationwide measurably improve coding, compliance, reimbursement, and overall financial performance.  You can take this knowledge and become the expert to your organization!

We have a wealth of industry knowledge, and our goal is to lineup that experience up with your health systems most pressing business needs. Here’s a look at a couple of the topics we’re taking on now and over next few months:

Consumerism and Pricing Transparency

Success under the CMS price transparency requirements is more than just posting a hospital’s chargemaster online. Providers must also post their average charges by Diagnostic Related Group (DRG) for inpatients and their charges for drugs and biologicals—not usually included in a chargemaster—and charges need to be rational and defensible so that the hospital has a reasonable explanation for why the charge is what it is when patients start comparing prices. That is a tall order we have found many clients struggling with. Be sure to check out this article on steps to take toward ensuring compliance and defensible, rational pricing.

Compliance and Auditing

 It’s tempting to see your compliance plan and the auditing required to make it work as just more checkboxes on your to-do list. But if you’re taking this approach you’re missing out. Compliance and auditing are an invitation for continuous improvement that can be rewarding on a number of fronts when you do them right. We’ll offer resources on what you can be doing to make sure you’re getting the most out of your compliance and auditing efforts. Get started with this article on the top three compliance and auditing mistakes we see healthcare organizations making.

We’re excited about what we have planned for Panacea Insights over the next few months, and we want to offer a particular welcome to our new subscribers. Finding your “Expert” place in a market as complex and diverse as healthcare can be challenging, and Insights is a valuable tool in helping you navigate your place in your organization.

Ted Barduson,
President and General Manager
Panacea, a Career Step Company