Revenue Cycle Management
Many not-for-profit hospitals are still struggling to align revenue with capital deployment and expenses, a challenge that may grow as patients come in covered by exchange plans and Medicaid.
The potential exists for an unprecedented slowdown in receivables turnover as the Affordable Care Act marches toward full implementation. The importance of having a plan in place to mitigate this problem cannot be overstated.
As a result of the push towards accountable care, increased patient census no longer translates to higher revenue for hospitals. Unless costs are managed internally, higher patient volume may instead lead to narrower margins, if not outright red ink.
To get ready to participate in integrated care funded by bundled payments, behavioral health providers need to establish a new business model, with particular emphasis on establishing episode of care rates.
It's not particularly helpful, but the Centers for Medicare and Medicaid Services has finally addressed the impending ICD-10 delay.
It is now official: you must wait until 2015 to use ICD-10 code W6112XA -- struck by macaw. But it's no laughing matter: President Barack Obama has indeed signed the SGR patch legislation, which includes another delay of ICD-10 implementation.
The decision by lawmakers to delay implementation of ICD-10 by a year will give hospitals extra time to get ready for the transition, but will have a negative financial impact.
With Medicare's "two midnight rule" set to take effect later this year and audit appeals facing lengthy backlogs, the Recovery Audit Contractor program may be headed in some new directions.
The House of Representatives passed a bill yesterday to forestall scheduled cuts to Medicare physician payments through April 1, 2015, to delay the ICD-10 implementation deadline for one year, and to suspend enforcement of the controversial two-midnight policy.
Avoiding readmissions penalties has an obvious and direct impact on a healthcare organization's revenue. In an effort to improve patient care and keep your organization's revenue healthy, effective communication is essential.