Practice expansion leads to financial stability. What are your blue sky goals?
Over the past few months, we've focused on expansion, since it's the key to becoming financially independent and reducing your reliance on external funding. In
we explained what we look for when developing growth strategies for our clients and
we highlighted ways to increase your patient numbers.
This is especially timely since health center funding has only just been extended until November 21, and there is still uncertainty around long-term funding. Kaiser Family Foundation recently published interesting statistics on the reliance health centers have on Section 330 grants, indicating many FQHCs are already considering the impact on operations and putting contingency plans in place. Hopefully you're not one of these.
In our last email, we promised that we'd focus on some core fundamentals and specific trends we're seeing, to make sure you're set up to start 2020 strong. In this issue, we talk about the importance of 340B independent and self audits.
Turning to what's happening in the industry, HRSA recently awarded more than $135 million to help health centers expand their facilities and offer improved access to oral care. This new funding supports the latest UDS data which highlighted the increasing role health centers play for a large percentage of the population. CMS is focusing on patients through its Patients Over Paperwork initiative and reducing Medicare premiums for seniors, and NACHC is seeking applications for 2020 committee positions.
Keep reading for more details.