Despite the political turmoil surrounding the recent election, the Affordable Care Act (ACA), also known as Obamacare, is still very much in place and will probably be for at least some time as lawmakers hash out revisions to some of the plan’s components. However, many components will stay in place, specifically those that relate to LTPAC facilities and how healthcare providers are reimbursed and what standards they, and their facilities, must adhere to.
One of the most critical components of the plan, which is not expected to change greatly, is the increased need for transparency and accountability, especially in LTPAC facilities, which deal with a vulnerable population.
Greater Transparency and Accountability Requirements
There are several ways in which LTPAC facilities must account for as much transparency as possible. They must be transparent about their financial outcome and interests, operations, and regulatory adherence.
First and foremost, under the ACA provisions and Centers for Medicare & Medicaid Services, LTPAC facilities must disclose detailed information about individuals and entities that have a direct or indirect ownership interest in or managing control of their operations, in addition to other parties that provide governance, management, administration, operations, finances, and clinical services. This requirement is in place to ensure that all individuals and groups involved in the facility’s operations are held accountable for the activities that take place on a daily basis.
Additionally, LTPAC facilities must leverage technology to support transparent, accountable delivery, measurement, and improvement of quality of care, services and outcomes as experienced by consumers both within and across care settings, a standard set forth by the Long Term and Post- Acute Care (LTPAC) Health Information Technology (IT) Collaborative.
LTPAC facilities must also be able, willing, and ready to present any and all information needed to prove compliance with regulatory requirements and make available internal and external audits and reports in a timely manner upon request from any authorized entity.
Healthcare technology plays a crucial component in providing the records, files, and financial documentation required to remain in compliance with the ACA’s standards.
The next blog will further demonstrate the benefits of information technology in LTPAC facilities.
LINTECH is fully committed to assisting our LTPAC partners in keeping compliant with the ever-changing state and federal regulations. For more information as to how LINTECH’s fully-integrated software solutions and related services can assist your LTPAC facility, please contact us.