As 2013 quickly approaches, many of us are setting resolutions for the coming year. From an operational perspective, the “Fiscal Cliff” is weighing heavily on long term and post-acute providers (LTPAC) as they identify ways to streamline operational and financial efficiencies.The “Fiscal cliff” is the popular shorthand term used to describe what citizens of the U.S. face on January 1, 2013 when the terms of the Budget Control Act of 2011 are scheduled to go into effect.Among the laws set to change at midnight on December 31, 2012, are the end of last year’s temporary payroll tax cuts (resulting in a 2% tax increase for workers), the end of certain tax breaks for businesses, shifts in the alternative minimum tax that would take a larger bite, the end of the tax cuts from 2001-2003, and the beginning of taxes related to the Patient Protection and Affordable Care Act (PPACA). At the same time, the spending cuts agreed upon as part of the debt ceiling deal of 2011 will begin to go into effect. According to Barron’s, over 1,000 government programs – including the defense budget and Medicare are in line for “deep, automatic cuts.” This includes Medicare cuts to physicians and, most likely to reimbursement to LTPAC and other healthcare services (source).The possibilities of increasing reimbursement, enhancing overall efficiency and saving costs through LINTECH’s COMET™ could significantly support facilities in their efforts to mitigate the unfavorable impact of a fiscal cliff scenario.
Integrated solutions include:
- Resident/Patient Account Suite: is the most efficient, effective and powerful integrated LTPAC clinical and financial tool for your facility’s revenue cycle management.
- Clinical/EMR Suite: comprehensive solution for every aspect of charting and documenting patient care, from tracking and managing, to assessing, planning, retrieving and reporting.
- Financial & Administrative Services Suite: offers the most advanced, comprehensive yet easy-to-use LTPAC solution for managing your accounting and administering your business processes at the user, department and facility levels.