Chronic Care Management (CCM), Principal Care Management (PCM), Remote Patient Monitoring (RPM), and Transitional Care Management (TCM) Services
The CMS initiatives for Chronic Care Management (CCM), Principal Care Management (PCM), Remote Patient Monitoring (RPM) and Transitional Care Management (TCM) are proving to be a valuable way to increase revenue in physician practices for work that is already being performed by care teams. These payment models may seem daunting to operationalize. Especially in this era of Medicare Shared Savings, CCM, PCM, RPM and TCM will support the transition from ‘reactive’ patient care to ‘proactive’ patient care. This paves the way for improved quality measures, better health outcomes for patients, reduction in readmissions-while increasing revenue.
The revenue potential of the CCM program alone is significant. For example, if a practitioner enrolls 400 patients in a CCM program, this translates into $201,600 in additional revenue per year. In addition, Medicare estimates that approximately 2 of every 3 Medicare recipients have 2 or more chronic conditions, so this number may be conservative for many providers.
What’s the Catch?
There are a number of requirements that need to be met before practices can bill for these codes. Several nuances of the program create challenges for practices in the area of process management, workflow, and compliance. HCIT Consulting has a proven consulting service that can maximize reimbursement and reduce penalties for your physician practice(s) in as little as 5-15 hours per physician for multiple reimbursement models.
With a 2500% ROI, we can have up to a 50-physician practice up and running with TCM and CCM in as little as three weeks! Additionally, we can help practices identify potential APM opportunities in 2019 and beyond. A recent practice our consultants worked with scored 100% on the MIPS based on their 2017 data.
Michael Marron-Stearns, MD, CPC, CFPC, leads the HCIT Consulting team and boasts more than 19 years in quality reporting, billing and coding and healthcare IT. Dr. Marron-Stearns’ expertise has been translated into several published journal articles and numerous speaking engagements.
Further information on the CCM program is available at: Medicare’s CCM Program: Opportunities and Challenges.
Schedule a free 30-minute consultation regarding your readiness for TCM and CCM and see if you qualilfy for a free audit. Email us at firstname.lastname@example.org for more information.