Revenue Cycle Management
As the healthcare industry continues to move in the direction of using compensation incentives, a new analysis reveals that incentives as currently used are not an effective motivator for healthcare professionals and waste an estimated $20 billion in resources.
With the federal government making big changes to the way healthcare providers are reimbursed for services through programs such as Medicare and Medicaid, many organizations are considering all their strategic options for how to best prepare to take the hit to the bottom line.
With the pressure to increase net income intensifying, hospitals are finding new urgency in the old saying, “every dollar counts.” No longer can health systems focus their efforts solely on optimizing their largest sources of revenue and cost. Attention has now shifted to much smaller dollar amounts. One area to consider for opportunities for revenue enhancement and cost reduction is during physician practice acquisitions.
With the future of the health reform law in the hands of the U.S. Supreme Court, a majority of hospitals and health systems are anticipating a drop in revenue as a result of the Affordable Care Act (ACA).
Physicians use new technologies in the ever-growing telemedicine field to expand their practices and grow their revenue.
Targeted geographic expansion into new markets with well-insured people is the new frontier for hospitals seeking a competitive edge in the marketplace, according to a study by the Center for Studying Health System Change (HSC) published in the April edition of Health Affairs.
Results of a national healthcare industry survey revealed that 60 percent of hospital executives believe revenue integrity is essential to their organization’s financial health.
Iconic Data has announced the release of SwiftPayMD, a revenue cycle management app for the iPhone and iPad that's designed to enable doctors to immediately bill for their services.
On average, roughly 10 percent of all healthcare claims are initially denied and require additional work on the part of the provider to secure payment. One industry expert offers a three-part plan for reducing the impact of denials on the revenue cycle.
For the second time, the government has delayed enforcement of HIPAA 5010, CMS said Thursday. The new enforcement date is June 30, 2012.