61 percent of hospital chief financial officers (CFOs) and business managers in "struggling" hospitals expect to be fired by 2016 due to outdated revenue cycle management solutions, according to a recent Black Book report. The report reveals hospital CFOs could potentially lose their jobs because their outdated revenue cycle management software, staff, and solutions were powerlessly stuck in fee for service mode too long. CFOs self identified as "struggling financially" believe they must
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Health IT | News, Analysis, Insights - HIT Consultant
CDISC and HIMSS Collaborate To Enable HIT Interoperability
CDISC and HIMSS collaborate to foster the adoption of standards to enable the interoperability of health IT systems.
Recognizing the importance of and need for effective reuse of data in electronic health records (EHRs) for research purposes, the Clinical Data Interchange Standards Consortium (CDISC) and HIMSS extend their existing and long-standing relationship and, in collaboration with Integrating the Healthcare Enterprise (IHE) USA, work together to foster the adoption of standards to
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6 Metrics to Improve Hospital Revenue Cycle ROI
Lindy Benton, CEO of MEA|NEA, provides six key metrics to improve the ROI of a hospital revenue cycle management program to get cash in faster with less effort.
Revenue cycle management (RCM) is the process that manages claims processing, payment and revenue generation, and often entails the use of technology to keep track of the claims process at every check point. This allows the healthcare provider billing a patient the ability to follow along in the process and address any
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Epic Systems to Offer Remote Hosting to Clients in 2015
Epic Systems is currently building a data center at its Verona, Wisconsin campus to offer remote hosting services to its clients targeted at medical groups and small hospitals, VentureBeat first reports. The decision brings the largest EHR provider closer to offering a software as a solution (SaaS) model that could help increase market share against its competitors such as Cerner, who has been offering remote hosting services since 1999. The remote hosting services will be offered first to new
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5 Essentials to Reduce Healthcare Data Breaches
According to the 2014 Healthcare Breach Report from Bitglass, the total number of healthcare data breaches per year has remained fairly constant for the past three years—averaging about 200 breaches per year. About 6x as many credit card numbers as medical records are stolen each year. Healthcare data breaches are a big deal for healthcare consumers, the cost of breaking the rules is steep: Up to $50,000 per HIPAA violation, or up to $1,500,000 per calendar year per identical violation. In one
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Half of Providers Unsure of ICD-10 Revenue Impact
Nearly half of healthcare providers are unsure of the ICD-10 revenue impact or have yet conducted revenue impact assessments, according to a new eHealth Initiative (eHI)/AHIMA survey. In fact, 35 percent
believed that their organization’s revenue will decrease during the first year of ICD-10 compliance.
The report provides a look at just how prepared healthcare organizations are for the upcoming ICD-10 implementation and how they think ICD-10 will impact their operations. Survey respondents
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Less Than 17% of Hospitals Meet Meaningful Use Stage 2
Less than 17 percent of hospitals have demonstrated Meaningful Use Stage 2 requirements, according to the latest CMS data. As of September 30, less than 38 percent of eligible hospitals (EHs) and critical access hospitals (CAHs) have met either Stage of Meaningful Use in 2014. CMS has paid out more than $25 billion incentive payments to eligible hospitals and professionals participating in the meaningful use program.
The disappointing meaningful use data numbers reflects how hospitals are
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GHX Acquires Vendormate to Expand Supply Chain Portfolio
Global Healthcare Exchange (GHX), a leader in supply chain solutions, announced today that it has entered into an agreement to acquire Atlanta-based Vendormate, the leader in vendor relationship management software. Vendormate's solutions add vendor credentialing capabilities to the GHX supply chain portfolio delivering even greater supply chain visibility for healthcare providers and suppliers. The acquisition is expected to close within the next 30 days.
The acquisition of Vendormate adds
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Cerner In Talks to Acquire Siemens Radiology Information Systems
Cerner is currently in talks to acquire Siemens Radiology Information System (RIS) solution, SearchHealthIT first reports. The Siemens radiology information system (RIS) offerings are apart of the syngo line of medical imaging software based in Malvern, PA.
Cerner recently acquired Siemens health information technology business for $1.3 billion in cash back in August, which includes Siemens Soarian EHR solution. No decision has been made just yet; however, there has been confusion among
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Infographic: The Rise of HIPAA Violations
Infographic created by TrueVault illustrates the rise of HIPAA violations providing a picture of the regulatory landscape along with the type of complaints, breaches and fines that occur due to HIPAA violations.
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