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
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Revenue Cycle| Healthcare Finance | Policy, News, Analysis, Insights - HIT Consultant
7 Best Practices for Revenue Cycle Management Optimization
Today’s healthcare landscape of increased regulations and pay-for-performance models, combined with declining reimbursements, has made revenue cycle management (RCM) critical for success. Health costs continue to rise and employee contributions are increasing at a rapid pace.
In fact, employee contributions have outpaced employer contributions by 6% over the last 5 years and deductibles have steadily increased. Providers,
therefore, will need to respond with thoughtful strategies
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Report: 61% of Struggling Hospital CFOs Expect to Be Fired by 2016
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chief financial officers (CFOs) and business managers in "struggling" hospitals expect to be fired by 2016 due to outdated revenue cycle management solutions, according to a recent Black Book report. The report reveals hospital CFOs could potentially lose their jobs because their outdated revenue cycle management software, staff, and solutions were powerlessly stuck in fee for service mode too long.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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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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Video Case Study: Revenue Cycle Management at Fletcher Allen Health Care
Chuck Podesta, CIO of Fletcher Allen Health Care (FAHC) in Vermont discusses his academic medical center's use of the Centricity Business revenue cycle management solution from GE Healthcare. Podesta addresses ICD-10 readiness, Accountable Care Organizations, connectivity with Epic clinicals, and FAHC's new population health management patient portal tool, MyHealth.
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23% of U.S. Hospitals Plan to Invest in Patient Access Solutions for Eligibility
CapSite™ announces the release of the 2011 U.S. Patient Access Study. The study represents the latest in a series of CapSite strategic industry reports focused on the Revenue Cycle Management (RCM) market.The statistically significant study represents unique Voice of Customer (VOC) insight from more than 500 U.S. hospitals on the market opportunity, market share, vendor mind share and adoption of various Patient Access solutions
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