OrboNation Newsletter: Healthcare Payments Edition – July 2021
The No Surprises Act: Advanced EOBs on the Horizon
The No Surprises Act -- which is part of the Consolidated Appropriations Act introduced earlier this year -- is a pretty straightforward proposition: It is designed eliminate some of the surprises that group health plan participants encounter from unexpected charges. Health Affairs This Week Podcast...
Listen to the podcast and read more details on Advanced EOBs.
Solving the Remaining 43% Paper Remittance Advice Problem: Hybrid Electronification
The COVID-19 pandemic has acted as the "catalyst" that has spurred healthcare digital transformation. With many non-essential workers being moved to remote environments -- possibly permanently -- healthcare providers and revenue cycle companies turned to...
Hospital Financial Performance: The Post-COVID Recovery Begins
This comes as no surprise to anyone in the industry: The COVID-19 pandemic did a number on the healthcare economy, ravaging volumes, revenues, and other financial metrics. We may be on our way to recovery, however. Kaufman Hall’s latest Hospital Flash...
Hospital Denial Rates Exceeding “Denials Danger Zone” of 10%
According to a survey conducted in April to May of 2021 by Harmony Healthcare, hospitals' denial rates have reach new highs during the pandemic. The results from the survey provide a small sample of the rise in denied claims with responding hospitals (69%) exceeding...
Revenue Cycle Outsourcing: What Points Do Providers Consider?
For Revenue Cycle Outsourcers -- RCM companies, clearinghouses, billers, and medical lockbox providers -- the quandry is this: What do healthcare providers evaluate in their decisions to outsource their revenue cycle operations...
Choosing the Right Partner: AZ Practice Solves Revenue Cycle Staffing Problem
Tucson Gastroenterology seemed to have their billing system well in hand, staffed with professionals that had long association with the organization and deep knowledge of their methodology and procedures. What could go wrong? Well, as examined at RevCycleIntelligence.com...
Despite Challenges, RCM Technology Leaps Ahead During Pandemic
RevCycleIntelligence.com reports on a new survey that shows about three-quarters of hospitals and health systems in the US deployed revenue cycle management (RCM) technology or underwent active technology deployments during the COVID-19 pandemic. The survey...