Considering that the first generation of healthcare IT systems centered primarily on billing technology, it’s interesting to note that for the past several years healthcare organizations have focused most of their attention on clinical transformations driven by national developments such as the Affordable Care Act and Meaningful Use (MU). But now that the MU “wave” is starting to subside, focus is shifting to back-end systems and processes.
While many organizations realize that a full replacement of outdated technology is the best way to protect and grow financial performance, many more are still fearful of the change. But with the right strategy in place, PM replacement can be a manageable, efficient and ultimately rewarding process.
When considering an investment in your PM system, ask yourself a simple question: “Will the money I’m spending directly improve the revenue cycle?” Any solution that you are considering should have the built-in flexibility to help you chart a path to the right combination of hosted and in-house improvements that will maximize reimbursements for your organization. The right technology can offer a hybrid solution, such as in-house patient registration and scheduling, with a hosted solution managing the financials.
If at some point, you wish to further alleviate the administrative burden, the right solution should enable you to host your entire back office with minimum effort. An effective revenue cycle management technology platform should include:
1. Full clearinghouse integration
º Insurance eligibility and call reminder integration
º Intuitive claims processing integration
º User-friendly electronic remittance review
2. Proactive outstanding claims work queues
3. Automated carrier contractual allowable discrepancy tracking
4. Flexible charge entry import and real-time CCI/LCD edit scrubbing
5. A robust reporting and real-time financial dashboard
In this sponsored white paper from Allscripts, you will learn the challenges facing healthcare organizations using yesterday’s revenue cycle management systems, and discover why capitalizing on the latest technology is easier—and much more rewarding—than you might think.