Complimentary Webinar by Firstsource: Are Your Financial Systems Prepared for ICD-10?
Learn How to Avoid Calamitous Damage to Your Bottom Line
ICD-10 will require changes for financial data management and billing, potentially causing cash flow challenges. Add to the mix ACOs, ARRA, EMRs and the rush to clinical integration and you have the potential for catastrophe.
So, have you evaluated how ICD-10 will require your financial systems to change? Do you have a plan?
Learn how you can help your hospital avoid the potential meltdown of your revenue cycle with the implementation of ICD-10!
Nearly everyone is talking about the impact of ICD-10 on clinical documentation, coding, utilization review and compliance just to mention a few albeit important departments. But the under-reported issue is the impact on your revenue cycle and, particularly, A/R. And predictions are dire — huge reductions in reimbursement and a virtual dry-up of cash flow. In fact, reliable sources project that 35% of U.S. hospitals will have to change their financial systems over the next four years — right in the middle of ICD-10!
1. Develop an understanding of the chaos of today’s healthcare and reform mandates, such as ICD-10, ACOs, ARRA and Never Events, and how these directly impact your revenue cycle.
2. Identify potential legacy A/R challenges and pitfalls associated with the conversion of a financial management system and how to overcome them.
3. Explore how a potential outsource solution can have a direct impact on improving performance and the bottom line reimbursements coupled with the ability to fund legacy or ongoing receivables.
4. Identify the right questions to ask when evaluating a vendor.
5. Understand essential elements to ensure the successful transition to a new clinical or financial system and the key items affecting the revenue cycle.
Your Presenters: Simon Hughes, Division President, Firstsource, and John Evensen, Vice President, Client Development, Firstsource