Revenue Cycle Management
Health information exchange. It creates a free-flow of clinical information between IT systems, enhancing patient care and connecting hospitals that have different EHRs. And for CFOs and CIOs, it can lead to big revenue returns.
On the U.S. Department of Treasury's Go Direct campaign website is a countdown clock. It isn't counting down to the end of the Mayan calendar. And although some older adults may view the clock as ticking down to the end of the world as they know it, the Treasury Department and leaders of the long-term care industry say the deadline it's counting down to will begin a new era of increased efficiency and cost savings.
Overall U.S. healthcare prices increased slightly from June to July 2012, rising 0.2 percent, according to the federal Bureau of Labor Statistics.
There's a tremendous amount of waste occurring in the healthcare industry. Organizations are moving to lean management because it exposes what and where these wastes are and rethinks the way work is done via value streams. Healthcare Finance News talked to a lean management expert to take a look at how waste impacts organizations.
When the Centers for Medicare & Medicaid Services announced a one-year delay for ICD-10 implementation in February 2012 -- pushing the date back to Oct. 1, 2014 -- shrewd CFOs kept their focus and pushed forward with their implementation plans and schedules.
The Centers for Medicare & Medicaid Services will penalize hospitals for readmissions beginning this autumn. As a result, many healthcare providers are taking a cold hard look at their bottom line in an effort to meet or exceed projected targets for the year. The difficult part, of course, is that each healthcare provider has its own unique challenges. There is no "one size fits all" solution.
Memorial Medical Center in Port Lavaca, Texas, realized a $50,000 bump in revenue in just three months by optimizing the billing process.
Telehealth's promise of opening a virtual connection between clinicians, organizations and patients offers the opportunity to increase patient access while improving care continuity. But telehealth can also provide business benefits for healthcare providers.
A new actuarial analysis of general and professional liability (GL/PL) claim costs for long-term care facilities offers good news and bad news. The good news first: frequency of claims is neither increasing nor decreasing. The bad news: the severity of claims is increasing steadily.
TriZetto Group's Gateway EDI subsidiary announced last week that it more than doubled its customer base of healthcare providers with the acquisition of 10-year-old revenue cycle management and electronic transaction processing systems company ClaimLogic.