The standardization of professional terminology seeks to facilitate communication and make processes in the healthcare field less time-consuming, which makes care providers’ ability to comprehend terms crucial. Reimbursement from the CMS payment is among the terms involved in healthcare organizations’ everyday activities and playing a role in the healthcare industry’s operation and basic quality assurance practices. For instance, in healthcare research, the average daily CMS reimbursement payment can be used to assess facilities’ average revenue levels and evaluate their overall financial and operational success (Jones et al., 2020). Thus, CMS reimbursements’ role in the healthcare field is inseparable from analyzing and regulating the process of hospital revenue production.
Another aspect of this term’s role in healthcare is setting clear rules of how payments are allocated to healthcare service providers depending on facility type and other factors. For instance, payments to long-term care hospitals, inpatient mental health settings, palliative care, and nursing homes are made based on predetermined amounts of money (Centers for Medicare & Medicaid Services, 2021). Other models of releasing payments, including volume-based and value-based ones, are also available, which can create orderliness and motivate service providers to compete.
The discussed term’s potential impact on my practice in caring for patients revolves around affecting the demand for my skills in the labor market, having implications for career growth. If CMS reimbursement rates for the services that I provide grow, hiring care providers to fulfill such responsibilities will become a more attractive option for healthcare employers in the sector where I work. This can encourage more care facilities of the same type to compete for the portion of the healthcare labor force having particular professional qualifications. As a result, CMS provider reimbursement rates can indirectly contribute to more employee-friendly opportunities for practice with patients by making employee groups with specific qualifications more desirable in the market.
References
Centers for Medicare & Medicaid Services. (2021). Prospective payment systems – General information. CMS.gov.
Jones, M. R., Kramer, M. E., Beutler, S. S., Kaye, A. D., Rao, N., Brovman, E. Y., & Urman, R. D. (2020). The association between potential opioid-related adverse drug events and outcomes in total knee arthroplasty: A retrospective study. Advances in Therapy, 37(1), 200-212.