Hospitals will have new interoperability opportunities in 2023; Here’s what you need to know.

In 2023, hospitals will have to start using a new interoperability standard for patient data. CMS is rewarding hospitals that use certified EHR technology to exchange data using TEFCA. Eligible healthcare organizations can receive up $5k per eligible patient for North American inception data collection on this measure starting in 2023! This will provide opportunities for better care coordination and more effective treatments, but it also means that healthcare leaders must be prepared. Here’s what you need to know about the new standard and how it will impact your hospital.

The 2023 Inpatient Payment Prospectus System (IPPS)

Let’s talk about the 2023 Inpatient Payment Prospectus System, IPPS. What is it? In a nutshell, IPPS sets the rate of payment for hospital care under Medicare in the United States. It was implemented by Congress in 1986 and has been modified regularly since then. In August of this year, CMS released the final rule for the 2023 IPPS. The rule changes are intended to lighten administrative burdens and ensure that hospitals are equitably compensated for inpatient services provided to Medicare beneficiaries regardless of geographic location. These changes include additional codes for therapy and psychiatric…