Revenue Cycle Management

With out-of-pocket costs for patients increasing due to the popularity of high deductible health plans, and with so few purchasers taking advantage of health savings accounts, the risk of bad debt and charity care has increased for healthcare providers.

When hospitals send invoices with charges that seem to bear no relationship to their costs, the Pennsylvania firm tells its clients (generally medium-sized employers) just say no.

Bert Zimmerli, Executive Vice President and Chief Financial Officer of Intermountain Healthcare, enthuses about wireless technology, sensors and connected health as they pertain to the growing focus on revenue cycle management in healthcare.

While once there were no books, conferences and even curriculum dedicated to the management methodology, now there are dozens of tools available.

Experts say consumerism means hospital revenue cycle team must try harder to engage patients.

Qualitest survey found 28 percent of organizations said they have done any revenue impact testing with payers.

Linda Burt of Nebraska Methodist and Katrina Belt of Baptist Health say analytics gives them the data to reshape their healthcare environments in the transition from fee-for-service to value-based care reimbursement.

Several forward-thinking healthcare providers are making significant financial and efficiency improvements by using their appointment reminder technology systems to address other problems such as increasing utilization of preventive care services, scheduling follow up care, delivering test results, and improving collections on past due accounts.

Hospital does not charge for any additional care within 30 days of a hip or knee replacement, covering readmissions, infections, rehab and postoperative care — everything except deficiencies in the joint devices.

The Mayo Clinic in Rochester, Minnesota will first install Optum360 and then roll out the new system later for other Mayo Clinic facilities.