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Oncology Business Management

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Providers who are eligible to participate in the Centers for Medicare & Medicaid Services (CMS) electronic health record (EHR) incentive program have a one month reprieve to show that their practices are using the technology in a meaningfully useful way.

Although new physician compensation models promote pay-for-value, episodic bundles, and risk-adjusted bundles, physicians in non-solo practices are compensated using four methods: base salary, compensation based on personal productivity, compensation based on practice financial performance, and bonus based on factors other than personal productivity and practice financial performance.

Creating an enhanced, common health information exchange (HIE) pipeline where clinicians, payers, and patients share structured information from multiple electronic medical record/electronic record platforms would effectively manage costs and enhance patient care in oncology, according to a recent paper published in the Journal of Oncology Practice.

While hospitals and cancer centers are taking cues from the hospitality industry-think hoteliers like Marriott, Hyatt, and even Ritz-Carlton-office practices are learning that improving the patient flow aids in running an efficient office. That is translating into increased profitability.