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A healthy revenue cycle is something for which every business strives, but it is especially important for healthcare organizations in the current industry environment, due to declining reimbursements, shrinking margins and evolving payment models.
If electronic funds transfer via ACH saves healthcare organizations' money and allows staff to focus on secondary billing and improve cash flow, why haven't more providers moved from check payments to EFT via ACH?
Revenue cycle upgrades at U.S. hospitals have been pushed aside, in favor of preparation for the October 2015 ICD-10 transition and the chase for incentives tied to electronic health records, according to a Black Book survey of chief financial officers.
The ICD-10 transition could affect every department at a healthcare system. That means success will depend on organized project management and planning.
A new healthcare electronic funds transfer (EFT) standard went into effect at the beginning of 2014, and many healthcare professionals are reaping the benefits of time and money saved.
We keep telling physicians that they may have to survive without reimbursement revenue for six months after the ICD-10 transition in Oct. 1, 2015. But it doesn't have to go down that way if organizations take practical steps.
Viral hashtag campaigns aren't new, but it's not often you see groundswell campaigns about healthcare management topics.
Opponents of the transition to ICD-10 coding were successful in attaching a delay to "must-pass" Congressional legislation earlier this year. If ICD-10 proponents are not vigilant, such tactics could work again.
The Obama administration took another step to close what many see as a health-law loophole that allows large employers to offer medical plans without hospital coverage and bars their workers from subsidies to buy their own insurance.
More healthcare providers are outsourcing end-to-end revenue cycle management amid the change to value-based payment models, a new survey shows. Experts predict the market for RCM outsourcing will approach $10 billion by 2016.