2016 Cost Accounting Survey | Full Report

The transition from fee-for-service to pay-for-value has been referred to as one of the greatest financial challenges the U.S. healthcare system currently faces.1 Although this change is expected to happen over an extended period of time for the industry at large, CMS has announced aggressive goals for making the move with Medicare providers and hospitals. This raises questions about whether healthcare providers are being given enough time to effectively navigate the challenges posed by a payment model that requires sharing and analyzing of data in ways that fee-for-service and its legacy revenue cycle management systems and business processes never contemplated. This study examines the approach healthcare providers are pursuing as they manage the changing payment landscape. The findings provide important insights about where the industry could/should focus its efforts in the months ahead to assist organizations in moving to a pay-for-value system.