How Reimbursement Data be used for Performance Incentives
In the healthcare industry, positive outcomes depend on the quality of services offered by nurses and physicians. In enhancing good outcomes, health institutions have adopted pay-for-performance programs where incentives are given to nurses and physicians for the quality of care rendered to patients. At times, the pay-for-performance incentives may not be sufficient to cater for the quality of care and services rendered by health care professionals and practitioners. In such a case, reimbursement data and bonuses are used to supplement the pay-for-performance incentives. Arguably, just like P4P incentives, reimbursement bonuses are crucial in boosting the performance of nurses and physicians of health care institutions (Briesacher et al, 2009, p 9).
Essentially, dedication is a key factor during the focus on and examination of ways and means of using reimbursement data for pay-for-performance initiatives (Casto & Layman, 2006, p 5). First, having a dedicated position will ensure that the goals and objectives that accompany the implementation of the various plans are achieved. Second, dedication boosts the chances of the various plans involved in the process becoming successful. Third, when stakeholders of healthcare institutions are dedicated to using reimbursement data for pay-for-performance incentives, then the completion of the plans in place cannot be compromised.
It should be noted that concentrating or paying much attention to details of healthcare reimbursement is unhealthy for the existence of healthcare institutions. Despite the strengths of focusing on the details of healthcare reimbursement, there are pitfalls revolving around the same. Starting with the strengths, it cannot be refuted that healthcare reimbursement plays an integral role in the enhancement of good outcomes in terms of employee motivation and customer satisfaction. However, the cost that accompanies healthcare reimbursement is very high, and this has restrained the implementation of such plans in healthcare institutions (Rosenthal, 2006, p 163).
Briesacher, B. A., Field, T. S., Baril, J., & Gurwitz, J. H. (2009). Pay-for-performance in nursing homes. Health care financing review, 30(3), 1.
Casto, A. B., & Layman, E. (2006). Principles of healthcare reimbursement. Chicago: American Health Information Management Association.
Rosenthal, M. B. (2006). How will paying for performance affect patient care?. Virtual Mentor, 8(3), 162-165.