In 2012, Massachusetts made history by being the first state to approve healthcare quality-improvement and cost-containment legislation. The funding provided for this act allowed many care facilities in the state to more effectively manage the many recent changes in health care legislation, and helped mitigate the negative impact of hospitals bad debt.
Now, the state's Secretary of Labor and Workforce Development, Rachel Kaprielian, has awarded over $12.2 million in the most recent round of funding. The grants will be awarded to 53 organizations spread throughout the state, and are intended to help spur innovation and encourage economic growth within the local health care industry.
"These grants will help ensure healthcare providers succeed in implementing new models of service delivery and adapt to new payment structures," Kaprielian was quoted as saying in a press release. "By providing resources to develop new and innovative training and education programs, Massachusetts will continue to solidify its place as a leader in healthcare modernization and advances."
The organizations that are receiving the funding were asked to assess their workforce and determine what skills and training were most necessary in order to weather current regulatory changes. With the help of the new funds, they will train their staff on the most recent cost-containment strategies.
Unfortunately, few states have similar programs in place. This can lead to some care facilities encountering problems of bad debt, which can grow to affect the quality of care provided. To avoid this conclusion at your health care facility or organization, consider making the decision to pursue accounts receivable outsourcing. This can drastically reduce the number of dollars written off to bad debt.