For multiple years in a row, chief executive officers (CEOs) participating in the American College of Healthcare Executives’ annual survey ranked financial challenges as the number one issue facing hospitals. With sound revenue cycle management and, in turn, revenue integrity is essential to survival, the decision to buy, build or replace a revenue integrity solution is one of the most important a hospital can make.
Crucial differences separate revenue integrity solutions from one another.
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
RCM Myth: Healthcare Billing Is Just A Back-Office Job
Historically, there was a belief in healthcare that revenue cycle management (RCM) was only a job for the back office. But today, medical practices are well-aware all staff members are critical to the revenue cycle. This responsibility extends through every aspect of a practice, from the front office to back office with the clinical staff in between.
The front office, for example, plays a role in generating revenue, because they can optimize scheduling and collect patient and insurance
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Coding in Age of COVID-19: Deciphering Coding Nuances, Best Practices
Without much warning, the novel Coronavirus, or COVID-19, has taken over our healthcare system. It has taxed our healthcare workers, our national stockpiles of PPE, and affected millions of Americans nationwide. In addition to healthcare workers on the front lines, the pandemic has also impacted the healthcare revenue cycle, causing major confusion, questions, and inconsistencies as coding specialists learn the latest COVID-19 codes and guidelines at warp speed. With cases rising by the tens of
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3 Ways to Build a Back-to-Basics Approach to Revenue Cycle Management
Sixty-nine percent of healthcare revenue cycle leaders say they will put more money toward technologies that boost revenue integrity, eliminate human error and unlock greater efficiency in the year ahead, an HFMA/Navigant analysis found. But for many organizations, the biggest untapped opportunity to improve performance comes down to a single word: data.
For all the buzz at about the ways in which digital innovation and automation could transform revenue cycle management, healthcare
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RCM: Boosting Practice Revenue Through Patient Financial Clearance
Medical practices have to balance many things. But one of the biggest balancing acts, which often gets overshadowed by patient care, involves keeping finances in the black, by ensuring revenue cycle management (RCM) flows smoothly. Whether practices are solo independent ventures or large, multi-specialty networks, the struggle is real.
When we discuss the most impactful ways to keep a practice’s bottom line in check — and keep the revenue cycle healthy — most people think of back-office
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Revenue Cycle Startup Rivet Lands $8.25M to Expand Price Transparency Platform
What You Need to Know:
- Revenue cycle management startup Rivet raises $8.25M Series A funding to expand its healthcare price transparency platform.
- The price transparency platform enables providers to give patients upfront pricing with the ability to pay prior to care via text while at the same time helping providers navigate the complex process that grants “in-network” status with insurance companies.
Rivet, a Salt Lake City, UT-based modern healthcare revenue cycle management
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Hospital Execs Believe Their EMRs Will Fail to Meet Their Future Needs, Report Finds
What You Need to Know:
- New Sage Growth Partners report reveals more than a quarter (27 percent) of respondents believe their EMR will fail to meet their future needs. COOs are the most pessimistic (67 percent) followed by CEOs (37 percent), and CFOs (34 percent).
- Hospital Technology Forecast 2020 market survey report reveals hospital leaders’ top health IT investment priorities, challenges, and opportunities.
- 35 percent of hospital executives say if they could go back in time,
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Chilmark Research: The Promise of AI & ML in Healthcare Report
What You Need to Know:
- New Chilmark Research report reveals artificial intelligence and machine learning (AI/ML) technologies are capturing the imagination of investors and healthcare organizations—and are poised to expand healthcare frontiers.
- The latest report evaluates over 120 commercial AI/ML solutions in healthcare, explores future opportunities, and assesses obstacles to adoption at scale.
Interest and investment in healthcare AI/ML tools
is booming with approximately
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CareFirst Will Cover Medically Necessary Diagnostic Tests for COVID-19
What You Need to Know:
- CareFirst BlueCross BlueShield announces steps to expand access to coronavirus (COVID-19) care for its members
- CareFirst will waive prior authorizations for diagnostic tests and for covered services that are medically necessary for any members that are diagnosed with COVID-19.
CareFirst BlueCross BlueShield (CareFirst) announced it is taking action to ensure that its members seeking testing and treatment for coronavirus can swiftly access the right care in
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TransUnion, VisitPay to Provide End-to-End Patient Payment Experience
- TransUnion and VisitPay announce a partnership that aims to improve the patient experience while maximizing revenue for healthcare providers.
- Together, TransUnion Healthcare and VisitPay will improve the patient's financial journey by providing an end-to-end patient payment experience, linking estimation with back-end billing and creating a data-driven feedback loop for providers.
TransUnion announced a partnership with VisitPay, an online patient financial engagement, and revenue
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