Transcript Generated by AI 00:00 Hey, 00:00 Mark Parkinson back with Park Place, 00:02 and we're actually in the studio today to talk about an important topic, 00:06 which is reimbursement. 00:07 And no matter how good your MDS team is, 00:10 it is hard to capture all the reimbursement that you're entitled to. 00:14 Fortunately, 00:15 there's a company called Reimbursement Reimagined R2, 00:18 that's a sponsor of Park Place 00:20 that provides support for your MDS teams to make sure 00:23 that you're capturing the acuity that you've worked hard to get and that you should 00:27 be reimbursed for. 00:28 And 00:29 Very happy to be joined today in studio by Amy Goldsmith, 00:32 who is the chief operating officer of R2. 00:34 Amy, 00:34 welcome to Park Place. 00:35 Thank you very much. 00:36 It's great to actually have you in the studio. 00:38 We're not doing a virtual interview like we did last time. 00:40 I know what a treat. 00:41 It's been great, 00:42 and you know, 00:43 it's one thing to theoretically talk about 00:46 improving reimbursement capture. 00:47 It's another thing to talk about a specific case. 00:50 So to here, 00:51 we're here today to talk about a specific case 00:53 where our two got involved and you were 00:55 able to see some real movement in reimbursement. 00:58 Uh, 00:59 I think the company that you worked with or 01:00 the provider you worked with was Life Care Services. 01:02 Tell us a little bit about this project. 01:05 Life Care Services is a great partner. 01:07 Um, 01:07 we got involved with them. 01:09 They reached out. 01:10 They saw that they had some opportunities that maybe they 01:12 weren't capturing all of the acuity in their facilities. 01:15 They 01:16 are coast to coast, 01:17 great provider, 01:18 lots of support from 01:20 regional leadership and in-house leadership, 01:22 beautiful communities, 01:23 so we were really excited to get the call. 01:25 Um, 01:26 we added actually 01:28 22 of their communities that we've been working with over the last couple of years, 01:32 and it's just been 01:33 wonderful, 01:34 and you've got an army of MDS experts 01:36 that then get involved with that specific company, 01:39 and I think, 01:39 I think the point that really needs to be stressed 01:41 that you made is that this is a fantastic company. 01:44 I've been in this work for a long time and they're 01:45 one of the very best long term providers out there. 01:48 And the reason that's important is that even with a great company we're gonna, 01:52 we're going to learn how this went, 01:54 but you were able to provide some significant improvement. 01:56 So 01:57 as you approach the 22 buildings, 01:59 uh, 01:59 tell us about the strategies that you used. 02:02 When we first get in with the buildings, 02:03 we really like to dig in and kind of see what their opportunities are, 02:06 um, 02:06 what systems they have in place that they've already developed, 02:09 and what we can sort of 02:10 help them grow. 02:12 And with these communities what we really noticed that there 02:14 was a lot of opportunity with the capture from. 02:17 Um, 02:17 the nursing capture from the hospital, 02:19 um, 02:20 strategy for ARD setting and things like that. 02:22 So, 02:23 um, 02:23 I think the teams we really identified that. 02:27 They just weren't really sure what it was they were missing so to dig into the data 02:31 and to really help them understand their 02:33 data and see what those opportunities were, 02:35 we've been able to really 02:36 um 02:37 capture 02:38 significant acuity and increase 02:40 their rates. 02:41 And so you, 02:42 you did this. 02:42 One of your strategies is remote monitoring. 02:45 Tell us about how that works. 02:47 We have therapists and nurses that come in about day 3 02:51 where we have new Medicare. 02:52 Mission and we're looking at the chart we're 02:54 scrubbing through looking for all of the reimbursement components 02:57 um 02:57 and it gives the building a chance 03:00 to already review the chart and see what opportunities they might identify and 03:04 then we kind of work right alongside with them so it's a very 03:07 proactive approach we're sending them the information 03:10 where they can find those opportunities of capture, 03:12 querying the physician, 03:13 add those diagnoses that we see might be lacking based on symptomology. 03:18 And get those things in place beforehand so that they don't 03:21 have to do a lot of extra work after the fact. 03:23 I think that's the real benefit, 03:25 right? 03:25 And I think in this case you also had a review process that you implemented. 03:28 Tell us about how that worked. 03:30 The review process that we implemented was primarily with the teams 03:34 going over the workbooks with them, 03:36 making sure that they didn't miss any of those opportunities, 03:39 uh, 03:39 setting it up with their regional teams and ensuring 03:41 that they kind of work together with our teams, 03:43 uh, 03:43 to get those systems in place. 03:45 And I think this started in January of 2024 03:48 and it only took 5 or 6 months to start seeing some real. 03:51 Results. 03:51 What, 03:52 what were the results that you saw 03:53 as a result of, 03:55 uh, 03:55 all, 03:55 all the interventions? 03:56 Yeah, 03:56 the average 03:58 community that has been with us, 04:00 especially with the life care services 04:01 team, 04:02 has been about 04:03 6 months, 04:04 3 to 6 months, 04:05 and we've seen an ROI anywhere within those 1st 3 months, 04:08 about 04:08 $10,000 or, 04:10 you know, 04:10 close to like 14%. 04:12 Been sort of our average and we have a community that's 04:14 above even 20%. 04:16 So I mean if you're seeing an increase in rates of 14%, 04:19 that's a massive number. 04:21 You start extrapolating that over a year's time and in the 04:23 building you're getting into the hundreds of thousands of dollars. 04:25 Yes, 04:26 and some of the buildings actually 04:27 exceeded that number. 04:29 Yes, 04:29 that's really the average, 04:30 you know, 04:30 we, 04:31 we average, 04:32 um. 04:33 Anywhere from 11 to 14% within those 3 to 6 months, 04:37 but we have buildings that have been with us 04:39 that are over 20% even 04:41 primarily in that nursing component, 04:43 um. 04:44 That they've really been able to see such growth that they've kept us on. 04:47 Obviously they've put those systems in place and we like to see 04:50 them succeed so we can eventually kind of fade ourselves out, 04:53 but these teams have sort of kept us in 04:55 to continue working with them because they've continued to see great results. 04:58 OK, 04:58 now is this just like a real outlier result or is this 05:01 similar to what you've seen with other clients that you've had? 05:03 It's actually average. 05:04 We average right around 11-12% return 05:07 in those first sort of 3 to 6 months. 05:09 But 05:10 yeah, 05:10 I mean that is, 05:11 I mean, 05:12 I remember my time at ACCA, 05:13 if we could get a 2 or 3% increase, 05:15 it had a massive impact on the sector 05:18 in just a few months to have an 11% increase is pretty remarkable. 05:22 Well, 05:22 Amy, 05:22 thank you very much for being with us and sharing that with us today. 05:25 Thank you. 05:26 Thanks so much for having me. 05:27 This has been great. 05:27 You bet. 05:28 And I would just say to all of the viewers, 05:30 I mean, 05:30 you don't, 05:31 you don't have to be a math genius to understand the impact that a 05:34 9 or a 10 or. 05:35 An 11% increase in your rates can have, 05:37 and I think the remarkable thing is that R2 05:39 was able to achieve this with a great provider. 05:41 You know, 05:41 when I first heard about R2, 05:43 I thought, 05:43 well, 05:43 maybe they just pick low hanging fruit from really 05:45 bad providers that don't know what they're doing. 05:47 No, 05:48 that's not the case. 05:48 Even good providers, 05:49 there are 05:50 opportunities. 05:51 So 05:52 I would strongly encourage you to evaluate whether this remote 05:56 monitoring of your MDS will will improve your rates. 05:58 The probability is that it will. 06:00 Thank you all very much for joining us here at Park Place, 06:03 and thank you for your support. 06:05 Oh my God, 06:06 if you're still watching this, 06:07 this means that you watched the end of a very long video on Park Place. 06:12 I'm not sure what that means. 06:13 It says something 06:14 about you or maybe there was just nothing else to watch today, 06:17 or 06:18 maybe your priorities are a little bit off, 06:20 but whatever it is, 06:21 we really appreciate your support and 06:24 if you wanna continue to follow us, 06:25 follow us on LinkedIn and our various social media sites. 06:29 And, 06:29 you know, 06:30 try to find something else to do.
