Management
Steve McNair of FTP Consulting tells a great story about how a credit card processing company made a significant $$$ investment in system upgrades, which delivered “lower performance”. The customer blamed the solution provider — however, the system was running fine. Sound familiar? After nine months of working with the system, no one could identify the root cause of…
Read MoreIt’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…
Read MoreWhat’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…
Read MoreFor 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…
Read MoreDoctor-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…
Read MoreWould 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 Even handling correspondence letters manually is outdated.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…
Read MoreThe 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…
Read MoreDo you agree with RevCycle Intelligence’s ranking of the top five most common pain points for the hospital revenue cycle? Billing and collections errors Health information technology challenges Lack of staff training Failure to monitor the entire claims process Failure to have a financial policy The article is well worth reading, because it offers useful solutions. Given the…
Read MoreEfforts to improve revenue generation and capture are focused on the front end. However, well-designed and well-run operations contribute to employee satisfaction and better service, as well as reduced costs.
Read MoreAdvanced technologies, in tandem with improved workflows and better data, have resulted in RCM systems that encompass the entire healthcare enterprise.
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