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Topic: Brain Food
This week’s CMS industry training on applications was quite informative, and contained many audience questions that you will want to hear. The recording is already available to registrants for those who missed it. There was way too much information for me to summarize, so I have included here a few highlights from the call and some basics that are easily overlooked.
It doesn’t matter whether you call it the Annual Election Period (AEP), Open Enrollment Period or Fall Open Enrollment; it’s that busy time of the year when beneficiaries are on the move. Now that the dust has settled, it’s time to take a thorough look at your member data. Your members are your revenue. Accurate member data and continuous maintenance will yield the maximum, most accurate level of revenue to your organization.
Yesterday CMS released the 2016 Part D application, and this afternoon the 2016 Medicare Advantage (MA) application was released. Despite the applications’ release dates, potential and current Plan Sponsors should be well under way in the preparation of the upload that is due on February 18th. Aspects of the application that require significant lead time to accomplish include the establishment of an adequate network and the acquisition of the required state licensure.
We’ve all heard that story. Now, CMS is in that proverbial barn and with the proposed rules, have doubled down on the time they’re taking to look for ACO success at managing risk. Does it make sense given that only two current ACOs have gone to the two-sided risk model? My guess is that is not what they are really looking for in just another three years.
Every January 1st we have the opportunity to reflect on our prior year. We make lists of all the things we want to do or maybe do better in the upcoming New Year. The typical resolutions are lose weight, quit smoking, save money, exercise more, eat healthier, create a budget or plan a trip. The practice of evaluating our personal life is a good way to celebrate our accomplishments while thinking about ways we can improve in the New Year.