Denial Management
The US healthcare payments market is gigantic, and getting bigger. As seen in the chart above, Healthcare expenditure hit $3.65 trillion in 2018 (per projections from CMS) and this spending is only expected to go up and up (again, as seen in the ski-jump above). Does that mean cruise control for players in the healthcare…
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The Executive Briefing at OpenMinds.com discusses the ways Revenue Cycle Management must adjust in the VBR (value-based reimbursements) World. OPEN MINDS Senior Associate David E. Wawrzynek summed up the changes organizations need to make in order to survive — and succeed — with revenue cycle management in a value-based world: The revenue cycle management process…
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You read that right: About a quarter of all US hospitals — 26% — do not have an effective healthcare revenue cycle management solution in place, according to a new Black Book survey. According to RevCycle Intelligence, Black Book surveyed over 4,640 individuals from 522 hospitals and healthcare delivery networks regarding their use of 165 revenue…
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RevCycle Intelligence reports on a new survey that healthcare organizations are losing revenue because they are failing to properly manage referrals and patient leakage. Some of the report’s findings: There’s a gap between priority and action. Some 87% of healthcare executives say patient leakage is a high priority, but 23% don’t track leakage and 20% don’t…
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In today’s “retail medical market” with heightened RCM patient focus, improving a patient’s financial experience is a key to healthcare revenue cycle management success, according to the Senior Regional Director of Revenue Cycle at Ascension Healthcare. RevCycleIntelligence.com reports that the ability to implement self-service technology and give accurate price estimates is key to improving the patient experience…
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Artificial intelligence is making itself invaluable in a variety of industries, including healthcare. With this in mind, Becker’s Health IT and CIO Report offers five useful terms to add to your AI playbook: Artificial intelligence: Intelligent behaviors commonly associated with humans but exhibited by machines and applied to tasks like problem-solving, automatically completing forms or…
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Results of a recent a recent JAMA study as reported in EHR Intelligence reveal that a disturbing amount of hospitals fail to comply with federal and state regulations for patient EHR and paper health records requests. This is especially damaging in today’s healthcare retail climate, where patients understandably want to know what their costs are. Researchers made…
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A study from Eliciting Insights shows that, while adoption of revenue cycle technology is brisk, some medical facilities are hesitant to adopt automated remittance posting in spite of its proven ability to solidify the bottom line in challenging times. Based on survey responses from 179 hospital revenue cycle executives, here are some takeaways as reported on Becker’s Hospital CFO…
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Is it important for financial institutions to deploy the best possible tools to fight fraud? Consider this: According to LexisNexis Risk Solutions in its 2018 True Cost of Fraud study for the financial-services sector, for every dollar of fraud a financial institution absorbs, it drains an additional $2.92 in associated costs — that’s up 9% from…
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An article produced by Intel outlines the ways Artificial Intelligence — AI — solutions can be deployed while using an organization’s existing technological infrastructure. The result is maximum gain with minimum expense and downtime. Watch this video for an interesting perspective on AI utilization. Intel’s article outlines three key areas where enterprises are experimenting with AI…
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