OrboNation

Newsflash: 90 Percent Jump in Uncollectable Denials in Just 6 Years

It looks like 2018 is going to be the year of denials and that’s exactly as foreboding as it sounds. Becker’s article based on the Advisory Board’s survey revealed that denials written-off as uncollectable, costs the average 350-bed hospital $3.5 million annually; a whopping 90 percent jump from just six years prior. Compounding this challenge…

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7 Strategies to Prevent Claims Denials

We operate in an already complicated reimbursements environment, so anything we can do to minimize the constant threat of denials is going to help the entire revenue cycle. Becker’s Hospital Review produced a helpful webinar discussing strategies to prevent claims denials that can be accessed here. In an article summing up the presentation, Becker’s distills…

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Out of the Trenches in the Battle Over Bank Customer Data

Fintechs and banks have been at odds with one another over customer information since the first moment that someone somewhere decided “fintech” was an actual word. American Banker reports that the icy relationship may be thawing. Fintechs have been arguing that they need to access bank customer account data to provide a variety of services,…

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Fee-For-Service Healthcare Payments – Shrinking

An article on the HealthExec website describes a Health Care Payment Learning and Action Network (LAN) report recently released, showing that 43 percent of payments to health systems came from traditional fee-for-service (FFS) payment models in 2016. That’s down from 62 percent the year before. Meanwhile, alternative payment models’ (APMs) share increased from 23 percent to 29 percent. While…

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Video – Highlights from Money20/20…Payment Innovation Is Everywhere

The Money20/20 conference this year in Las Vegas gathered an astounding array of speakers for what is called “The World’s Largest Payments & Financial Services Innovation Event.” Artificial intelligence, online commerce, robotics, even materials handling – – the spectrum of topics covered was enormous. In case you missed the conference (or if you attended but,…

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Selling a Latte For $5; Collecting Only 50¢ at Time of Purchase …

Sometimes it’s instructive to remind ourselves just how “different” the world of health care payments can be. Consider Dr. Andrew L. Pecora’s Starbucks metaphor in an article entitled The Quirky Way Physicians Are Paid: Imagine a hypothetical board meeting at Starbucks Corporation where a newly hired CEO tells the board how he intends to increase same-store…

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Faster B2B Payments: Don’t Overestimate the Challenge

While I was at Money20/20, there was a session called “B2B Payments: Investment is Heating Up & Paper Checks are Under Fire!” The session included 5 industry payment experts who were primarily taking pro-check positions. One of the startling observations which I heard was that they had little empirical evidence substantiating a significant business case…

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Feel the Pain: Paper Is Hurting All Healthcare Stakeholders

The Trends in Healthcare Payments Seventh Annual Report: 2016, available for free download – offers a look at how delaying the inevitable electronification of payments at all levels of healthcare transactions is costly on many levels to healthcare providers. Consider the following facts from a post at at AJMC: 88% of providers reported that they received…

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The Payments & Financial Services World is in Vegas, Baby

It’s advertised as “The World’s Largest Payments & Financial Services Innovation Event,” and it’s taking place right now (October 22-25) in Las Vegas – – the 2017 Money20/20 event expects 11,000+ attendees, including more than 1,700 CEOs and Presidents, from 4,500 companies and 85 countries. Their agenda is comprehensive and includes themes like PAYMENTS, BANKING, COMMERCE, SECURITY,…

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Becker “Power Panel” Makes 5 Key Observations on Managing RCM

Attendees at the Becker’s Hospital Review 3rd Annual Health IT + Revenue Cycle Conference in Chicago were treated to a panel of healthcare heavyweights discussing revenue cycle performance. The distinguished group included Vice President of Revenue Cycle Management at San Diego-based Sharp HealthCare Gerilynn Sevenikar; Vice President of Product Management and Revenue Cycle Analytics at…

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