Healthcare finance leaders can help to fix a broken healthcare system—one in which costs are high and outcomes are poor—by changing the culture of medicine, according to Robert Pearl, MD, Stanford University professor, Forbes...
Health IT powerhouse Cerner has been on working on revenue cycle management technology. The company perhaps best known for its EHR systems has been collecting client feedback and testing various capabilities to optimize its suite of revenue...
In August 2020, Aetna and Cleveland Clinic announced an innovative product for employers in Northeast Ohio. The two leading healthcare organizations partnered to form an accountable care organization (ACO) and to offer a co-branded...
In its simplest form, revenue cycle management is the process healthcare providers use to ask for, track, and collect revenue for services rendered to patients. But as medical billing gets more complex, revenue cycle management is expanding...
Healthcare providers and payers send millions of business transactions a day. These transactions ensure providers get paid for delivering care to patients, but they also create a treasure trove of data points. Claims data paint the picture...
Getting shots into arms has been a top priority for healthcare providers since the federal government gave the green light to several COVID-19 vaccines. But while speed was key for immunizers, medical coding efficiency has taken a major...
A prohibition on surprise billing is coming at the start of next year and federal agencies have started to release what surprise billing compliance will look like. These new compliance requirements will have a major impact on revenue cycle...Revenue cycle leaders should particularly pay attention to the part of the IFC that prohibits balance billing. “In the rule, HHS emphasizes the need for hospitals and other providers to be proactive in ensuring that they do not...
Healthcare mergers and acquisitions have promised to bring lower costs, higher quality, and better access to care. But a new executive order is challenging the rapid pace of consolidation in healthcare, directing policy and regulation to...
Clinical documentation has come a long way since the days of paper medical records. Widespread adoption of EHR systems and now EHR optimizations have modernized the act of clinical documentation, and much to the benefit of the healthcare...
Intuitive navigation and a system-wide effort are key to improving the patient financial experience and patient collections in a consumer-driven, post-pandemic world, according to Kathy LeBrew, chief system revenue cycle officer at...
The billing team at Tucson Gastroenterology was meeting a bar of excellence, according to Julie Wester, contract administrator at the Arizona-based specialty practice. But that bar was threatened when long-time staff members were starting...
The COVID-19 pandemic has blown the doors wide open on telehealth, especially with new reimbursement parity policies. But value-based contracts can support the growing interest in remote patient monitoring and other virtual care services...
Patient financial clearance is meant to provide a seamless patient experience while ensuring a smooth revenue cycle for providers. But more often than not, the process can be drawn out, burdensome, and even result in barriers to care...
Healthcare has a patient financial responsibility problem. The burden of high deductibles, out-of-pocket costs, and other medical expenses has increased exponentially over the last decade, making it harder for patients to pay their medical...
If there is a lesson to take from the COVID-19 pandemic, it is that the way healthcare operates needs to change. Sudden, dramatic declines in patient volumes left many hospitals and health systems without a stable revenue source, while...
Patient access is generally the first encounter a patient will have with a healthcare organization, making it central to the patient experience. But this aspect of healthcare is also a major first for another area: revenue cycle management....
Physician networks are key to the success of accountable care organizations. Leaders of these organizations, otherwise known as ACOs, lean on their networks of high-quality, cost-efficient providers to improve patient outcomes, reduce costs...
Carilion Clinic has had all of its pricing information on its public website since January 1, 2021, the day HHS implemented a new hospital price transparency rule. Compliance with the new rule—including the controversial disclosure of...
Days in accounts receivable (A/R) is one of the most important key performance indicators for growing practices. In an increasingly complex healthcare environment—and one in which financial responsibility is shifting to the...
Millions of patients present at Yale New Haven Health each year because they are sick, want to manage their chronic conditions, or simply have a healthcare-related need. With such a large volume of patients, Connecticut’s leading...