Chip & Paulie Webinar 11 (June 4, 2020)
Chip & Paulie engage in a detailed discussions around various topics, including recent changes and updates relevant to pediatric practices. A notable part of the conversation features updates on the Paycheck Protection Program, telemedicine innovations, and recommendations for better financial and operational management amidst the COVID-19 pandemic.
Guests: Susanne Mograna-Brennan, Tim Rushford, & Heidi Chamberlin
Summary
1. **Data Trends**: Chip Hart presented data showing impacts on pediatric practices, including visit volumes, charges, and revenue trends caused by COVID-19, along with telemedicine adoption rates and feedback.
2. **AAP Advocacy**: The American Academy of Pediatrics (AAP) is actively advocating for pediatricians, seeking policy changes to improve Medicaid rates and telehealth reimbursements, with resources available to assist in media and legislative outreach.
3. **Telemedicine Vendor Satisfaction**: A survey of over 500 responses was discussed, analyzing satisfaction with various telemedicine vendors, highlighting the most used platforms and key satisfaction metrics.
4. **Upcoming Cash Flow Management**: Concerns were raised about the continuation of financial challenges post-Paycheck Protection Program (PPP) forgiveness period, with guidance on extending liquidity and strategic financial management.
5. **Insurance Policies Update**: Significant changes in insurance policies were noted, like Aetna's, which include ending cost-sharing waivers and adjusting coverage timelines for telehealth.
6. **Revenue Cycle Management Tips**: Tim and Heidi discussed pivotal reports essential for maintaining the financial health of practices, ranging from weekly claim error reports to quarterly payment performance reviews.
7. **Capital Access**: Suzanne Mograna-Brennan provided insights into securing loans and lines of credit post-PPP, emphasizing the need for robust business plans and exploring nontraditional lending avenues.
8. **Future Planning**: The importance of ongoing advocacy, strategic financial planning, and adapting to changes in healthcare delivery and reimbursement was underscored, with a call to action for attendees to engage in continuous professional development and community support.
