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

Practice Management News

Exploring Key Components of the Healthcare Revenue Cycle

August 21, 2017 - The healthcare revenue cycle encompasses “all administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue,” according to the Healthcare Financial Management Association (HFMA). But the cycle traditionally contains distinct areas that oftentimes function separately from each other. A traditional healthcare revenue cycle...


Articles

Top 10 Enterprise Resource Planning (ERP) Vendors By Hospital Use

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Healthcare providers have become increasingly interested in implementing enterprise resource planning (ERP) systems as part of their business intelligence and revenue cycle management suites. ERP systems are business management tools that give...

25% of Physicians Dissatisfied with Provider Compensation Rates

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Even though a majority of physicians either received the same or an increase in provider compensation in 2016, about one-quarter of them expressed dissatisfaction with their annual pay last year, a recent PraticeMatch survey revealed. The survey...

Health Center Work Conditions Drop After Practice Transformation

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Improving work conditions for clinicians and staff members may be key to implementing practice transformations for value-based care in federally qualified health centers (FQHCs), a new Health Affairs study suggested. Recent survey results showed...

NYC Health’s ERP System to Bring Business Ops to Digital Age

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From payroll and workload management to orders and purchasing, health systems manage a myriad of back-end business operations, using a combination of automated systems as well as manual processes associated with each function. The web of disparate...

Hospitals Turning to Staff Buyouts to Reduce Healthcare Costs

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Massachusetts-based Brigham and Women’s Hospital may extend a voluntary buyout offer to employees in order to reduce healthcare costs in the face of growing labor expenses and stagnant claims reimbursement rates. In April 2017, the hospital...

Primary Care Job Growth Slows, Affecting Healthcare Spending

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With the number of specialist jobs rising nearly six times faster than primary care provider positions between 2005 and 2015, industry efforts to control and reduce healthcare spending may be in trouble, a recent Health Affairs blogpost suggested....

Top 4 Rural Hospital Challenges with Revenue Cycle Management

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Rural hospitals may be the only healthcare option for individuals living in sparsely populated areas, but revenue cycle management challenges have forced many of these facilities to permanently close their doors. The healthcare industry has seen...

Complex Surgery Costs 10.5% Less With Hospital Consolidation

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Overall healthcare charges for complex pancreatic and hepatic surgeries were 13.4 percent lower in markets with higher levels of hospital consolidation than charges for the same operations in unconcentrated and moderately concentrated markets,...

Volume, Value of Healthcare Merger and Acquisition Deals Up

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Healthcare merger and acquisition activities among hospitals were up 15 percent in the second quarter of 2017 compared to the same quarter the previous year, recent research from Kaufman, Hall & Associates, LLC showed. The number of transactions...

Hospitals to See 7.61% Rise in 2018 Prescription Drug Rates

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Hospitals and health systems should anticipate a 7.61 percent increase in prescription drug rates in 2018, researchers predicted in a recent Vizient study. Using the group purchasing organization’s 2016 and 2017 data on hospital and non-acute...

Healthcare Revenue Cycle Software Market to Grow at 4.5% CAGR

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The healthcare revenue cycle management software market is slated to grow at a modest compound growth rate (CAGR) of 4.5 percent between 2017 and 2021, stated a recent Research and Markets report. “The latest trend gaining momentum in the...

Breaking Down the Top 5 Healthcare Revenue Cycle KPIs

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With value-based reimbursement and healthcare consumerism taking hold of the industry, provider organizations are under pressure to ensure their healthcare revenue cycle is operating at maximum efficiency. To effectively track healthcare revenue...

Free Health Clinics Face ROI, Clinical Efficiency Obstacles

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Free health clinics help uninsured and low-income individuals access affordable care, but two recent studies show that free clinics may face healthcare costs and clinical efficiency challenges. New research in the Journal of the American Board...

Geisinger Lowers Turnover for Healthcare Revenue Cycle Success

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A MAP Award for High Performance in Revenue Cycle from the Healthcare Financial Management Association (HFMA) indicates that a health system achieved outstanding healthcare revenue cycle performance on metrics such as net days in accounts receivable...

Making a Business Case for the Patient-Centered Medical Home

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Transforming primary care practices to patient-centered medical homes (PCMHs) and maintaining National Committee for Quality Assurance (NCQA) recognition cost a large physician network about $2.5 million, or $43,000 per practice, revealed a new...

Greater Non-Physician Staffing Helps Healthcare Revenue Cycle

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Increasing the number of non-physician providers and support staff, such as physician assistants and nurse practitioners, is key to healthcare revenue cycle performance, a recent MGMA survey revealed. The survey of over 2,900 medical groups across...

Is a Chief Primary Care Officer Key to Value-Based Purchasing?

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Developing a Chief Primary Care Medical Officer role should help health systems achieve value-based purchasing success by focusing on establishing care coordination systems and improving key quality measures, argued industry experts in a recent...

Provider Compensation Rises 2.9%, While Productivity Flattens

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Physicians experienced similar physician compensation increases in 2016 compared to last year, with median compensation rising by 2.9 percent after a 3.1 percent boost in 2015, the most recent AMGA Medical Group Compensation and Productivity...

GAO Identifies VA Provider Productivity Measure Shortcomings

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The VA lacks appropriate provider productivity measures and clinical efficiency models to accurately capture medical center performance, the Government Accountability Office (GAO) recently reported. A review of the VA Central Office and six VA...

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