2016 Financial Management Conference

Sessions Speakers Exhibitors Floor Plan Buzz

202: How to Manage Hospice Pharmacy, Supply, and Other Costs (Room Pavilion Ballroom)

There are potential reductions in hospice reimbursement from the 2016 changes to the Medicare payment system and an ongoing threat that Medicare Advantage and Medicaid managed care plans may have to assume responsibility for hospice payments from Medicare. These looming developments make it more important than ever that you understand how to manage your overall hospice costs. This is especially true in the areas of pharmacy, durable medical equipment, and medical supplies, which represent the bulk of non-salary-related expenses in your agency. This session will supply you with management tools to compare your different hospice costs with relevant benchmarks and provide real-life examples of agencies that have negotiated better contracts to effectively manage these costs. Learn the value of quality cost data and how your agency can collect it. We will focus on identifying relevant benchmarks, especially for pharmacy, durable medical equipment, and medical supply costs.