Revenue Cycle Management
The changing payment model for patient care has made hiring more primary care physicians and adding specialty practice groups a strategic initiative for most health systems. But, unless a health system is set up to fully track the downstream revenue these physicians generate when measuring overall financial performance, the outcomes may not match what was anticipated within the strategy.
Imagine trying to run a successful business when employers, competitors, and other service providers have launched focused campaigns that encourage consumers to avoid you. If you run a restaurant or an auto-repair shop, this scenario is far-fetched. If you run a hospital, it's reality.
Just in case you didn't get the memo earlier this week, hospitals should take note that the Centers for Medicare & Medicaid Services will soon allow Recovery Auditors to restart some reviews.
Chief financial officers at hospitals and health systems must track a multitude of difficult financial issues these days. One question, however, always stops a conversation cold: Why are our reimbursements declining?
Although there are some indications of a possible lull, hospital systems are still buying up private physician practices at a high rate. With that come concerns about maintaining the revenue cycle during transition, but there are steps hospitals can take to smooth the process.
Last month the Centers for Medicare & Medicaid Services published its proposed rule to update the Medicare Hospital Outpatient Prospective Payment System and the Ambulatory Surgical Center Payment System rates and policies for calendar year 2015. Here's what you need to know.
If hospitals want to survive the new healthcare environment, they can't simply brace themselves for the Centers for Medicare & Medicaid Services' new reporting measures -- they must proactively improve their quality scores.
Money Atwal, who is both CFO and CIO at Hilo Medical Center in Hilo, Hawaii, shares with Healthcare Finance News how his organization is counteracting declining reimbursements and resources.
When it comes to speeding up the revenue cycle, the hospital pharmacy has its own part to play.
As payers and employers put pressure on providers to assume more financial risk, providers are struggling to assess the impact of the risk they have already assumed.