Tag: Revenue Cycle Management

Three-Ways-to-Outsmart-Denials-in-2023

Three Ways to Outsmart Denials in 2023

Denial rates serve as a barometer for the financial well-being of healthcare organizations. An increase in denials can have wide-ranging negative implications for an organization — impacting everything from accounts receivable to the patient experience. By preventing denials upfront, providers can realize revenue faster, boost staff efficiency and satisfaction, and reduce patient anxiety related to […]
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Medicaid-Expansion-Boosts-Financial-Performance-of-Providers

Medicaid Expansion Boosts Financial Performance of Providers

Medicaid expansion improved financial performance for healthcare providers and was associated with lower uncompensated care costs and higher revenues. Medicaid expansion has positively impacted healthcare providers by boosting financial performance and resulting in payer mix improvements, data from the Kaiser Family Foundation (KFF) found. All but 11 states have expanded Medicaid eligibility as of January […]
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New-Diagnosis-Codes-For-2023

New Diagnosis Codes For 2023 With A Focus On SDoH

On April 1, your revenue cycle will have additional diagnosis code options to further capture social determinants of health. The CDC just released upcoming changes to both the ICD-10-CM diagnosis code set and the official coding guidelines. The new changes include 42 diagnosis code additions, seven deletions, and one code revision. All changes will go […]
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EHR-RCM-Integration-Improve-Revenue-Cycle-Efficiency

EHR-RCM Integration Can Improve Revenue Cycle Efficiency

Partnering with a vendor that provides EHR and RCM capabilities helped one healthcare organization boost communication and improve revenue cycle efficiency for 150 care centers. Leveraging automation for revenue cycle management (RCM) processes can streamline tasks and improve efficiencies. Specifically, partnering with an EHR vendor helped a healthcare organization to achieve $1 billion in patient […]
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Inflation-Driving-Financial-Challenges-for-Consumers

Inflation Driving Financial Challenges for Consumers

Almost a third of consumers cited inflation as their top reason for being concerned about covering unexpected healthcare costs. More than 70 million adults feel unprepared to pay for healthcare costs, while health systems are facing a tight labor market and ongoing supply chain issues, highlighting the financial repercussions of inflation in the healthcare industry. […]
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Optimizing Revenue Cycle Management Automation

How AI in Optimizing Revenue Cycle Management Automation?

Healthcare Leaders believe that Artificial Intelligence (AI) and Automation have the capability to transform the revenue cycle management process the way we think. Only a robust and durable revenue cycle automation solution is needed to handle all complexities involved in patient eligibility verification to the denial management process. Healthcare provider needs several key steps to […]
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Rising Costs - Revenues - Patient Encounters – Physician Practices

Rising Costs, Revenues, Patient Encounters – Physician Practices

How bad is inflation? Physicians, financial managers report the latest. The Medical Group Management Association has published its 2022 MGMA Cost and Revenue Survey Report. The title is “Maintaining Margin in the Inflation Era,” and survey respondents said it’s been difficult to do so in 2022. The COVID-19 pandemic and its lingering effects on health […]
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Hospitals To Take Drastic Cost-Cutting Measures

Hospitals To Take Drastic Cost-Cutting Measures

Economists say hospitals will have to enact “aggressive cost-cutting measures,” including department or service line closures, to stabilize profit margins. Hospitals will need to take drastic cost-cutting measures to stabilize balance sheets after one of the worst financial years in decades, according to economists. Those measures may include department and service line closures or even […]
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