Healthcare Revenue Cycle Management, ICD-10, Claims Reimbursement, Medicare, Medicaid

Practice Management News

Hospitals Lagging with Healthcare Cost Transformation Efforts

October 17, 2018 - Healthcare cost transformation is a top hospital and health system need. But less than one in five executives reported cost reductions of more than five percent in any priority area in the last year, a new Kaufman Hall survey shows. “US hospitals are facing increasing pressures, so these percentages need to be much, much higher,” Lance Robinson, Managing Director at Kaufman...


Articles

Telemedicine at Center of Billion-Dollar Healthcare Fraud Scheme

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Law enforcement officials in Tennessee recently charged four individuals and seven companies involved in a $1 billion healthcare fraud scheme involving telemedicine services, according to details recently released by the Department of...

4 Hospital Business Models for Consumer-Centric Healthcare

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When a member of Gurpreet Singh’s family broke his wrist, they didn’t go to a hospital emergency room or an academic medical. Instead, the family headed to an urgent care center to triage the situation and develop a care...

Healthcare Business Office Experience Impacts Patient Collections

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Consumers are less likely to pay their patient financial responsibility in full if they experience a negative healthcare business office interaction, a new survey shows. The survey of 500 recent healthcare consumers conducted by Connance...

Hospital Prices in Colorado Increase 76% As Expansions Continue

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Hospital prices in Colorado increased 76 percent over a seven-year period as profits rose to some of the highest in the nation, preliminary data from the state’s Department of Health Care Policy and Financing showed. Initial...

Steady, Moderate Growth for Healthcare Prices and Spending in 2018

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Healthcare prices and spending are seeing steady, but moderate growth, the Altarum Center for Value in Health Care recently reported. Healthcare prices increased just two percent in the second quarter of 2018, bringing healthcare price...

GAO Finds Uptick in Rural Hospital Closures as Inpatient Use Falls

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Sixty-four rural hospitals closed between 2013 and 2017, more than double the number of rural hospitals closures in the prior five-year period, the Government Accountability Office (GAO) recently reported. Rural hospital closures are not...

3 Strategies to Minimize the Burden of Prior Authorizations

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Prior authorizations, or prior approvals, are strategies that payers use to control costs and ensure their members only receive medically necessary care. The cost-control process requires providers to acquire advance approval from payers...

Implementing a Patient-Focused Culture Good Business for Practices

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Fostering a patient-focused culture was a top business strategy top-performing medical groups and practices implemented in 2018, the Medical Group Management Association (MGMA) recently reported. As part of its 2018 MGMA DataDive Better...

Care Variation Reduction Key to Improving Care Quality, Costs

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Higher care quality and care variation reduction result in lower healthcare costs, according to a new Advisory Board analysis. Analyzing healthcare cost and quality data from 468 hospitals from April 2014 to March 2017, the...

Baylor Scott & White, Memorial Hermann Eye Hospital Merger Deal

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Two major non-profit health systems in Texas recently announced their plans for a hospital merger, which is expected to advance cost-effective patient care in the state. Baylor Scott & White Health, a non-profit based in Dallas,...

End-to-End Revenue Cycle Management Key to Success at Ascension

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The healthcare revenue cycle contains many moving parts. Hospitals and health systems typically rely on a patchwork of technologies and best practices to ensure everything from patient access and registration to medical billing and...

Patient Access to Care Falls As More Docs Look to Retire, Cut Hours

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Patient access to care could decrease as a greater number of physicians plan to cut down their hours, retire, or find a non-clinical job in 2018 compared to two years ago, a recent survey from the Physicians Foundation and Merritt Hawkins...

Less Than a Third of Docs Owned Independent Practices in 2018

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Physicians are continuing to flock to hospital employment models rather than take on a private, independent practice, according to a new survey. Only about 31.4 percent of physicians identified as independent practice owners or partners...

Physician Compensation Increased for Just 37% of Docs in 2017

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Average annual physician compensation for most specialties remained relatively flat from 2016 to 2017, leading to mediocre income satisfaction rates among physicians, the second annual PracticeMatch survey uncovered. Only 37 percent of...

13% of People Live in an Area with a Primary Care Physician Shortage

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Approximately 13 percent of US residents, or 44 million individuals, live in a county with a primary care physician shortage, according to new data from UnitedHealth Group. The primary care physician shortage impacts all types of...

3 Patient Collections Best Practices to Boost the Bottom Line

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Patient financial responsibility is steadily climbing, accounting for a greater portion of healthcare revenue. With patients shifting a provider’s revenue sources, hospitals and practices alike must implement internal patient...

Hospital Markups Drive Prescription Drug Spending, PhRMA Says

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Prescription drug spending is rising because approximately 83 percent of hospitals charge patients and payers more than double the acquisition cost for medications, according to a recent analysis by the Moran Company for the Pharmaceutical...

Hospitals Create Drug Company to Combat Drug Shortages, Prices

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Seven health systems are stepping up to the plate to tackle two of the healthcare industry’s most pressing challenges: drug shortages and rising prescription drug rates. Catholic Health Initiatives, HCA Healthcare, Intermountain...

Bon Secours, Mercy Health Finalize Hospital Merger After 6 Months

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Mercy Health of Ohio and Maryland-based Bon Secours Health System recently announced the completion of their hospital merger deal establishing one of the largest hospital chains and Catholic health systems in the country. In what the...

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