SNFs prepare for APMs

A 3-pronged strategy for SNFs and Advanced Payment Models

Skilled nursing facilities need to start thinking now, if they haven’t already, about how to collaborate across the continuum and focus on the numbers that matter most. That was the message of a recent McKnight’s webinar (free registration required to view) featuring CPA Chris Murphy and his insights on how “The Post-Acute Care Payment Game is Changing.”

The full webinar is worth viewing for any SNF leader who has not yet developed a plan for adapting to the Advanced Payment Models (APMs) that will be ever more common in the coming years. Murphy outlines a three-pronged defense strategy for SNFs to protect their margins under APMs:

  • increasing efficiency in providing care,
  • improving the patient experience, and
  • improving outcomes

Leveraging data is crucial for all three of these goals, meaning, as a McKnight’s editor summarized, “You need to learn how to measure your performance better than ever before, or hire somebody who knows how to help do it.”

Murphy highlights the fact that data is a key part of the story a SNF tells about itself to both patients and hospitals. By focusing on the factors that drive star ratings, and by being willing to collect and share even more data points, SNFs can make their case to referral partners.

Of course, to do this, facilities will need the right technology in place to help them maximize staffers’ time and ensure a satisfactory patient experience. Research conducted by ABILITY has found that staff efficiency is a top concern of SNF CFOs, and to succeed in this new environment, both clinical and administrative teams will need tools and guidance to help them continue providing strong patient experiences while still meeting the needs of the new data-centric payment models.

Adapting to this new environment may be a challenge, but as Murphy states, collecting your facility’s data is the key to building credibility with hospitals.