Healthcare Revenue Cycle Management Archives - Page 2 of 3

Customer Experience: The New IT Imperative

As a leader in healthcare, you need to find a way to deliver timely, flexible IT services with the agility of the cloud, yet without the complexity. A great customer experience (CX) occurs when you co-create value with consumers and deliver more than is expected. Leadership, including CIOs, were previously focused solely on the product
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Going to HIMSS21? Here’s What You Need to Know

HIMSS21 kicks off next week in Las Vegas. This much anticipated event, the industry’s largest, was rescheduled from March and is the first and largest on-site healthcare conference since the beginning of the pandemic. It’s everyone’s favorite healthcare and IT conference, and in past years included over 43,000 attendees. This year, a little over 700
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How Healthcare Automation Builds Post-Pandemic Business Continuity

The COVID-19 pandemic placed additional pressure on CIOs to accelerate their digital transformation efforts. The unparalleled demand for services, facilities, staffing, and public health tracking created chaos in healthcare. Critical areas of focus like telemedicine, lab testing, and revenue cycle management required efficient processes be implemented at warp speed. There were no longer continued discussions
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Reducing The Barriers To Interoperability

Interoperability is certainly not a new topic. It is a predominant theme at #HIMSS21, and has been a term of engagement in healthcare for over 20 years. To better understand the impact of data interoperability, Google Cloud recently commissioned The Harris Poll to survey more than 300 physicians across the U.S. Nearly all (95%) of
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Executive Order Tackles Healthcare Price, Transparency, and Competition

Lack of competition is a key reason for President Biden’s executive order, “Promoting Competition in the American Economy.” The proposed order tackles four key areas where a lack of competition in healthcare increases prices and reduces access to quality care: prescription drug costs, hospital consolidation, health insurance choice, and hearing aid access. Among other things,
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Streamlining the Process of Prior Authorizations in Healthcare

From the moment data is entered electronically into a patient chart, the prior authorization process begins. For care to be obtained, prior authorizations have to be identified and submitted with the right codes, approvals, and follow-up. The majority of health plan denials are attributable to prior authorizations, eligibility, and medical necessity rules. Currently, hospitals and
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Addressing Burnout by Optimizing Healthcare Processes

The Washington Post-Kaiser Family Foundation polled frontline workers in April 2021 and revealed, ”3 out of 10 healthcare workers are thinking of changing professions.” While this may sound surprising, it makes total sense. Nearly half (49%) of healthcare workers reported they had suffered burnout in 2020, while 43% reported feelings of work overload. And it’s
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Artificial Intelligence (AI) is Not Ready for Prime Time in Healthcare, Yet

Sometimes we read what others are saying and, because we want it to be true, we imagine it is true. It’s important to break down false promises and inaccurate information about Artificial Intelligence (AI). Healthcare has not even begun to realize the potential of AI, as we are merely at the infancy stages of applying
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Key Strategies to Improve Revenue Cycle Processes in 2021

2020 was an especially difficult year for most rural hospitals and health systems, who lost an estimated 70 percent of their income due to delayed and deferred visits and procedures. Although billing and claims might seem like a pretty linear process, there are detours and bumps that challenge even the best revenue cycle management teams.
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Boston Software Systems Interview with Brad Cox, Director of Patient Accounting, Northwestern Medicine

When a provider contacts a payer to check a claim status, it takes an average of 14 minutes and costs the provider $7.12. By the time a claim reaches a denied status, the provider has lost at least two weeks. Considering that the time between claims submission and payment can be as long as four
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Revenue Cycle Challenges: Make Automation a Key Ally in 2021

2020 highlighted existing administrative hurdles and operational speed bumps across the healthcare industry. Normal challenges in the revenue cycle, like prior authorizations, claims processing, posting, and account adjudication, were magnified by reduced staffing, remote teams, and gaps in productivity. Many smaller practices and rural hospitals were not able to keep up with the demands of
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Leveraging Automation in Healthcare

Leveraging automation in healthcare has proven to deliver real benefits. The Deloitte Global RPA Survey found that “53% of respondents have already started their RPA journey. This is expected to increase to 72% in the next two years.” Leaders are no longer debating the benefits of digital health. It is the right tool to fight
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What Can “We” Do Better in Healthcare?

We recently had an opportunity to sit down with Don Seamons, from the Healthcare Solutions Project, and discuss ways in which the “collective we” can improve in the healthcare system. Now more than ever, we need products that work for end users and allow them to efficiently and effectively care for patients. However, there’s a
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Automation Makes Population Health Management Scalable and Sustainable

The use of automation to replace manually laborious tasks that are better done by machines saves time, and allows clinicians to devote more time to higher-value roles, such as patient interaction. Identifying patient challenges is the foundation of care coordination. Multiple organizations use paper or EHR-based assessments to pinpoint social determinants of health and communicate
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Automation is a Key Defense to Mitigate Losses in Healthcare

Playing defense is key to hospitals and provider organizations remaining financially healthy, according to the American Medical Association. A recent survey from the Medical Group Management Association (MGMA), on the financial impact on medical practices, found that physician practice revenue has been cut in half during this unprecedented public health crisis. In addition, a “majority
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Automating Population Health Data Initiatives

The inherent value of a population health perspective is the ability to facilitate increased knowledge across multiple measures that can help a clinician understand or predict health outcomes. This includes looking at data inputs such as chronic conditions and treatment plans, and adding in a multitude of possible risk factors that may impede health in
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Healthcare Revenue Cycle Management