Payments
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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While the consumer “civilian” world has pretty much learned and accepted the “don’t take checks from strangers” rule, the corporate world is both slow to adopt that guideline — and often unable to. This is due to the fact that suppliers like the “float” advantage they enjoy with check payments. (“We paid you on Tuesday…
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As this Hospital CFO Report post illustrates, RCM Management job openings are available all over the country. But what are the new challenges that a Revenue Cycle Management Specialist face in the evolving world of medical billing? One emerging area of focus is a firm grasp of The Medicare National Correct Coding Initiative (NCCI; also known…
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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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In an environment where value-based reimbursement performance presents challenges to even the most “metropolitan” of hospitals and healthcare facilities, rural hospitals find themselves facing challenges heightened by their specific set of circumstances. As RevCycleIntelligence reports: Despite serving as a critical healthcare safety net for millions of patients, many rural hospitals are constantly on the brink…
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There are many reasons for the resilience of checks (including the small- and mid-sized businesses that rely on the paper check’s “float” for accounting purposes), but one important factor has been fear of fraud and security risks in newer digital transactions. Digital transactions are indeed growing at a rapid rate — particularly among millennials, many…
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The American Medical Association (AMA) updated the Current Procedural Terminology code set (CPT codes) in 2019 to include new codes for connected health services in an effort to encourage the Centers for Medicare and Medicaid Services (CMS) to pay for the services. According to RevCycleIntelligence.com: The 2019 CPT code set contains 335 changes that will…
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We’ve made note of the shrinking usage of fee-for-service models in healthcare billing ecosystems, and now it looks as though the emergent model, value-based payments, is not only growing in deployment but actually delivering benefits to both sides of the transactional equation. As explained by RevCycleIntelligence.com: Value-based care is a form of reimbursement that ties payments…
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One of the positive repercussions of wider adoption of Revenue Cycle Management (RCM) platforms is the accelerated implementation of sophisticated Electronic Health Record (EHR) technology (back in 2013 we noted that the HITECH Act had stimulated the adoption of EHR and Health Information Exchange (HIE) solutions). EHR Intelligence reports that the wider adoption of electronic health…
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