Boosting practice success by unlocking the value of RVUs
By ION
In the ever-evolving landscape of healthcare, practices face many challenges in managing compensation and productivity. Understanding the financial dynamics at play is crucial for optimized operations and equitable provider compensation, and one key component to achieving this understanding is by the analysis of Relative Value Units (RVUs).
Developed by the Centers for Medicare & Medicaid Services (CMS), RVUs are designed to standardize provider payments for medical services based on the resources required. For many practices, utilizing RVUs is essential not only for compensating providers fairly but also for analyzing and comparing provider production effectively against benchmarks.
However, navigating RVUs and their implications can be complex. InfoDive® can help, offering comprehensive reports and tools to illuminate the impact of RVUs on your practice. Whether you're considering using RVUs to compensate providers or to analyze and compare provider performance, InfoDive can provide the insights you need.
- Understand Medicare payment policy rules – InfoDive reports shed light on the adjustments made to RVUs according to Medicare Payment Policy Rules, including considerations for Multiple Procedures, Assistants, Bilateral Services, and Multiple Imaging. These comprehensive reports help you understand how these rules affect reimbursements by provider and service.
- Project payment impacts – InfoDive can simulate the effects of the Medicare Physician Fee Schedule Final Rule on your practice. By analyzing the volume of Medicare services from the past 12 months, our reports can forecast payment impacts for the upcoming year. You'll gain insights into RVU changes, including Practice Expense, Work, Malpractice, and Total RVU adjustments, allowing you to identify the most affected services or providers.
- Evaluate provider productivity – Productivity Trend reports offer insights into your providers' productivity. These tools help you analyze and compare provider performance, offering a comprehensive group average for all metrics and allowing you to filter results by specialty or provider type.
- Dive into detailed reports – In addition to high-level RVU reports, our Episode of Care Procedures report provides detailed insights into service line components and associated adjustments. This report offers enhanced visibility into the factors influencing reimbursement variations.
Let us help you uncover the valuable insights hidden within your data. Learn more about InfoDive by reaching out to your account manager or by emailing us at info@intrinsiq.com.
