Healthcare Revenue Cycle Management

Donald Trump Elected: His 7-point Plan for Healthcare

After last week’s startling election results, the healthcare community is now on notice that there WILL BE changes in the future. The man who vowed to eliminate the ACA (“ObamaCare”) had just, against all odds, been elected president.  Must see TV! Granted, eliminating ACA might not mean completely “eliminating,” as Trump took a more cautious…

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The Value of a Data-Driven Approach to Patient RCM

It’s clear that with more and more medical/healthcare payments being remitted by the patient rather than via insurance providers, tracking and leveraging data derived from all payments is harder than ever. However, as Health System Management notes in a new article, it’s imperative to take a “3-D” — “Data Driven Decisions” – – approach to…

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Here’s How Revenue Cycle Management Boosts Hospitals’ Bottom Line

What’s one of the most powerful components of RCM, and one that ensures great financial results for hospitals? Case management consultant Mindy Owen makes an excellent “case” for EDUCATION – – ongoing training of case managers is the key. Owen is a specialist in educating and developing case management teams, and has traveled across the country teaching case…

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A History Lesson to Master the Bank Lock Box

For a variety of businesses and organizations, a lock box (or “lockbox”) solution is key to efficient and profitable payment processing for corporations, healthcare providers, and non-profits. Chris Nichols, Chief Strategy Officer at CenterState Bank, posted a great piece on LinkedIn about leveraging Lock Box services, along with a concise history. You’ll want to read the entire article, but here’s…

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$32K Per Doctor – – Are Health IT Costs Driving Up Healthcare Costs?

Doctor-owned multi-specialty practices spent more than $32,500 per doctor in 2015 on new health IT, staff, maintenance, and related costs last year, according to a new analysis from the Medical Group Management Association. This is up from $23,000 in 2010. In 2009, President Obama signed into law the Health Information Technology for Economic and Clinical Health…

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Advice for Improving Revenue Cycle Performance from 7 Healthcare Leaders

Hear it directly from the providers! In the new reality where patients are responsible for more of their healthcare expenses, hospitals need to be more “patient-centric” in their approach, as this shift from payer reimbursement to patient reimbursement has major implications for revenue cycle management. Frankly, it forces hospitals and health systems to abandon traditional processes for the adoption…

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Report: Dreaded ICD-10 Conversion Had Modest Impact

In March of 2014 we were warned that the ballooning of ICD-10 diagnostic codes from 13,000 to 68,000 was going to disrupt the finances and data systems of healthcare providers. As it turns out – it was manageable. A new report from public accounting, consulting and technology firm Crowe Horwath reveals four key findings (as originally cited by…

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Manual Denial Management – Survey Reveals Surprising Results

Would you believe 31% of all providers are still handling denied claims with completely manual processes? Imagine how difficult that is with EDI 835 remittance files coming in?  Even handling correspondence letters manually is outdated. According to a HIMSS Analytics survey, about a third of healthcare providers are still manually processing claim denials. “Given the complexities around submitting claims and…

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Higher Patient Costs Mean New Focus to Patient Payments

TransUnion Healthcare on Tuesday released a report showing patient deductibles and out-of-pocket costs both increased by 13% between 2014 and 2015. “It’s clear that patients are becoming the new payer – a major source for payments to hospitals at both the time of service and after procedures,” said Jonathan Wiik, principal for revenue cycle management…

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HFMA ANI Update: Orbograph Breaks Record for Demonstrations at a Show

The HFMA ANI conference in Las Vegas, Nevada concluded yesterday. The sessions and keynote presentations were well coordinated and integrated with the theme — “Out of the Box” — for the finance and revenue cycle groups within hospitals. The challenge of our healthcare revenue cycle and payment process is to understand how one can actually attain a level of…

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