Revenue Cycle Management
The quality of a hospital or health system is usually linked to patient outcomes, not to administrative or financial efficacy. But smooth interactions between patients and the hospital business office should also be viewed as critical to an organization's quality, says one CFO.
Most healthcare managers recognize the importance of liquidity, but many fail to take the necessary steps to increase it.
As Oregon transforms how it delivers care to 780,000 Medicaid patients, it hopes to generate better outcomes at lower costs. The problem for Oregon hospitals is that these goals conflict with the traditional aim of boosting revenue through ER visits and inpatient stays.
Now that health plans are required to be compliant with the newly adopted operating rules for electronic funds transfers and electronic remittance advice, electronic transactions might be poised to overtake healthcare.
It has never been clearer: physician practices must be able to code in ICD-10 to bill for services and procedures after Oct. 1, 2014, or they will see a cash flow interruption, additional costs and delayed claims payments. But payers, clearinghouses and vendors can help you.
As legacy revenue cycle systems struggle to keep up with constant regulatory changes, many hospitals are turning to next generation revenue cycle systems out of necessity, but experts caution to think before jumping.
Some states have found practical success in establishing the Affordable Care Act, but what distinguishes their efforts are their unique fit within each state's distinctive political and business climates.
A new federal regulatory proposal to ensure adequate insurance networks could help not-for-profit hospitals, Moody's said in a briefing released this week.
In case anyone was wondering, the RACs haven't gone away for good. They're just taking a vacation. The Centers for Medicare & Medicaid Services announced a "pause" in RAC audits last month, in preparation for the procurement of the next round of RAC contracts.
The Obama Administration released its proposed federal budget for fiscal year 2015 this week. Virtually all types of healthcare providers, health plans, and drug manufacturers would be impacted by the budget provisions if adopted as proposed - although that is an unlikely scenario.