General practices can use the tool to evaluate the impact of promised bulk-billing incentive changes on their financial viability.
Practice intelligence platform Cubiko has launched its Medicare Incentive Modelling tool, designed to help general practices understand and evaluate the financial impact of the latest Strengthening Medicare initiatives.
In the lead-up to the upcoming federal election the Department of Health and Aged Care released details of proposed additional bulk-billing incentives, including a new 12.5% practice incentive for clinics providing a universal bulk-billing model.
Cubiko’s data analysts have developed a dashboard that models the potential impact of those new incentives on practice revenue.
“Since we launched the tool, I’ve had so many practice owners and managers reaching out, through calls, emails, and Facebook messages, sharing how valuable it’s been to have modelling they can rely on,” said Chris Smeed, founder and CEO of Cubiko. \
“Seeing the data firsthand has helped them cut through the noise and make confident, informed decisions based on facts rather than speculation or fear.”
According to the company announcement, the tool analyses a practice’s actual historical billing data, applying the new incentives at the individual item level.
This provides an assessment of how these changes could impact practice revenue and long-term financial sustainability.
Additionally, the new dashboard provides practices with a per-practitioner view of bulk billing and service mix.
“One of the biggest things we’re finding is that while having the numbers and the model is important, it’s just as crucial to understand the impact on practice culture,” said Mr Smeed.
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“I recently spoke with a practice with two exceptional bulk-billing doctors, and two doctors who had recently joined the clinic, providing amazing care under a strong mixed-billing model.
“Looking at their whole-of-practice data, and then breaking it down for each GP, enabled an informed conversation about the type of practice they want to build to best care for their patients, and what kind of model would be needed to sustain the practice and keep that facility accessible to the local community.”
The Medicare Incentive Modelling Tool is available immediately for all Cubiko customers using Best Practice at no additional cost.
