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Payments

Same Day ACH is Here – and Paper Check Usage is UP!

October 4, 2016

The same report that finds 57% of organizations intend to use same-day ACH for last-minute payments also finds that business-to-business payments by paper check actually increased slightly from 2013, breaking the previous downward trend in check use. In fact, 86 percent have finally integrated their check payments systems with their accounting systems. There are still major…

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

September 29, 2016

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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Breaking Down The Faster Payments Construct

September 27, 2016

Set aside 13 minutes for the newest installment of the Countdown to Same Day ACH podcast series. In this episode, Jan Estep, president and CEO of NACHA, talks to Karen Webster about the overlaps, complements, and implications of all the capabilities under the faster payments umbrella. Ms. Estep says the best way to think about “faster payments” is as an umbrella…

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A History Lesson to Master the Bank Lock Box

September 1, 2016

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?

August 18, 2016

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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ACH Finally Catches & Passes Check Clearing … or Will It?

August 16, 2016

The other day a friend was telling me about how he ordered a lens for his camera via Amazon at 10am in the morning, and had an Amazon truck in his driveway at 3:30pm that afternoon. We used to be astounded by 48-hour delivery, and now the “click”-to-doorstep duration is only a little longer than the…

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Advice for Improving Revenue Cycle Performance from 7 Healthcare Leaders

August 11, 2016

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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Visa and PayPal announce strategic partnership

August 2, 2016

Recently, Visa and PayPal – – the largest payments network in the world and the largest digital payments network in the world – – announced a strategic partnership “that will result in an improved and more seamless payment experience for Visa cardholders and will offer greater choice in how consumers pay with the PayPal and Venmo…

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Manual Denial Management – Survey Reveals Surprising Results

July 14, 2016

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

July 1, 2016

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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