Helping patients understand their financial responsibility and pay for services continues to be driven by an outdated and unnecessarily complex experience. Last year, three in 10 Americans had an unpaid healthcare bill go to collections. As more of the financial burden falls to patients with rising costs and an increase in high-deductible health plans, consumers are frustrated […]
Revenue cycle management technology is at the heart of the administrative side of business at every hospital and health system. It is key to daily operations. As such, healthcare CIOs and other IT professionals must take great care when implementing RCM systems. Getting revenue cycle done right – and done right the first time – […]
In the crowded healthcare market, smart healthcare leaders must find patient satisfaction advantages everywhere they can. When it comes to patient satisfaction, providing excellent clinical care is a no-brainer. But in a crowded and competitive healthcare market, smart healthcare leaders know that they need an edge everywhere, including an efficient revenue cycle. That’s the case […]
It’s every physician’s worst nightmare: Receive payment for services rendered, but then a payer identifies an aberrant pattern in claims data, audits the records, decides it has overpaid the practice, and recoups those funds. That money you already allocated for overhead, staff salaries, bonuses, or new medical equipment? Gone. With one post-payment audit, you now […]
Healthcare organizations are increasingly becoming conscious about improving costs as well as the quality of service to consumers. Technology is growing at an unimaginable speed and the impact it has on every sector is unfathomable. A report by Global market insights pegs the growth of the Robotic Process Automation (RPA) market to reach $5bn by […]
Healthcare organizations have a tremendous opportunity to harness artificial intelligence in an area that may not seem flashy but is important nonetheless: revenue cycle management. Although 94 percent of companies firmly believe AI can give healthcare organizations a “massive competitive advantage,” according to Change Healthcare’s Adam Sullivan, PhD, less than 5 percent have extensively incorporated […]
In general, urologists are doing quite well financially. The laws of supply and demand have finally caught up with the profession, as we had predicted years ago. However, you could do better. How can urologists increase their income? In this article, we share with you steps you can take to increase your income, and, at […]
A strategic approach to patient-centered revenue cycle technology strategy should be enabled by predictive analytics and machine learning to help customize the payment experience, refine communication messages, and give proper feedback to continually improve back-end processes. The path to financial health for hospitals and health systems has shifted and is rematerializing in a way that […]
Artificial intelligence (AI) is making big waves in healthcare from detecting lung cancer and gene mutations that lead to autism to addressing social determinants of health and chronic conditions. The technology is automating and optimizing clinical workflows, leading to improved outcomes, lower costs, and enhanced patient and provider satisfaction. The critical role artificial intelligence now plays in healthcare prompting some providers to […]
Medical coders who were unsure what documentation non-Medicare payers would expect in light of the Patients Over Paperwork Initiative now have more to go on. The initiative reduced documentation requirements for outpatient evaluation and management service codes (CPT® 99201-99215) provided to Medicare Part B patients beginning in 2021. The Centers for Medicare & Medicaid Services (CMS) indicated in their initiative that, although […]