Listen to the recording of our teleseminar with Maggie Adams from 4/17/13 - share your thoughts and ideas in the comment section below!
Hopefully if you are a follower of this blog, have heard me speak, or view yourself as a progressive EMS leader focused on survival, then you already have a regular dialogue with the leaders of the communities you serve.
Feel free to share this series of blog posts with them… start the conversation; the planning for the 2013-14 budget cycle is already here. If you are feeling overwhelmed you are not alone. What you choose to do about it is up to you.
Start by getting your arms around your numbers, as I’ve said earlier… a look back for the last three fiscal years will help give you a base line. If your numbers are stable… great! If they are already fluctuating, my bet is they are not getting better, but now you will be able to document and dissect trends you’re already coping with but may not have fully understood.
Once you have the data, build your forward-looking strategic plan and the costs associated with the plan and craft some budget pro-formas showing the plausible scenarios and the effects each will have on your ability to effectively serve the community. Read More→
This entire series is dedicated to improving the Fi$cal Fitne$$sm, the overall financial health of your agency. Beginning in 2014, (psst…that’s in about 9 months), your agency will most likely have less cash coming in.
In fact, I fully expect that most EMS agencies will be looking for governmental subsidies of some sort to make ends meet within the next 12-24 months. Those that already have subsidies will need to adjust them, so look at your current contracts, the renewal dates, and cost of living escalators and do the math now. What amounts might you need if your payer mix suddenly shifts more heavily towards Medicaid rates?
As I’ve been screaming from the rooftops for over a year now, what I call the “Ow-bamacare Revenue Slap” is going to hit EMS and I fully expect that 20% of the 17,068 EMS agencies currently operating in this country won’t make it. (That’s 3,414 agencies consolidated, or out of business)
The “Ow-bamacare Revenue Slap” happens when state sponsored health plans begin to expand…which most will…and I fully expect the rates will be in the range of the Medicaid rates…therefore, we will see decreased revenue. The slap comes in two parts: Read More→