ATLANTA, December 2, 2011—Patient Placement Systems (PPS) announced today the publication of a “survival guide” that provides analysis and strategies for skilled nursing facilities (SNFs) to thrive, even while faced with 11.1 percent Medicare reimbursement cuts. This guide, "The 11.1% Survival Guide for SNFs: 5 Tips for Thriving When Times Are Tough," is available immediately at www.patientplacement.com/survival.
“The 11.1 percent figure has become the ‘panic number’ for many SNF owners and operators, prompting them to defer or completely halt strategies for effective marketing and revenue growth,” said Doug Walker, VP and general manager of PPS. “But we published this survival guide in part to remind SNFs that their business model hasn’t changed since reimbursement cuts went into effect on October 1—strategies that made sense on September 30 make even more sense today.
The “11.1% Survival Guide” clarifies why now more than ever SNFs must apply bold competitive strategies and increase investment in smart sales and marketing tools and programs. The guide provides detailed financial analyses that demonstrate why cost cutting will not suffice and could make things worse—SNFs must build and manage quality census to grow revenue in the face of reimbursement cuts. Finally, the guide examines why the 11.1 percent Medicare cuts will not have nearly the impact SNF owners and operators might expect.”
The guide identifies five tips for thriving when times are tough for skilled nursing facilities:
- Choose Fight over Flight: Stay On Course with Sound Strategies, Especially for Sales and Marketing
- Replenish Your Resources: Focus on Generating Revenue to Overcome Reimbursement Cuts
- Master the Mix: Optimize Your Payer Mix—It’s More Important Than Ever
- Know Your Situation and Surroundings: Capture Business Intelligence to Support Smarter—And Bolder—Strategies
- Arm Yourself with the Right Tools for Battle: Outmaneuver Your Competitors While They Stand Still”
Walker cited several examples of clients successfully applying these strategies:
- Greystone Healthcare Management increased census 5 percent in one region, with 71 percent of new admissions being Medicare or Medicare HMO.
- Berkshire Healthcare Systems is admitting 70 additional patients per month across 17 locations.
- Royal Health Group set effective new RUG-IV reimbursement strategies, driven by system reports on requested services and reasons for declined referrals.
- Clients have accelerated referral response times by 80 percent, and raised referral conversion rates by as much as 100 percent.
About Patient Placement Systems
Patient Placement Systems helps skilled nursing facilities build and manage quality census. It designed the Web-based Referral Management System to automate and accelerate the admissions, marketing and reporting specifically for skilled nursing facilities. Clients have increased census by 5 percent, improved referral response times by more than 80 percent, and dramatically improved payer mix and revenue. For more information, visit www.PatientPlacement.com or call 877-748-6656. PPS also publishes www.CaringForward.com, an industry blog of ideas, insight and technology to inform and improve long-term care.
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