Hospitals and health systems are struggling to maximize the benefits of innovative technology to better manage uncompensated care and revenue integrity, suggests a HFMA/Navigant survey of 125 provider CFOs and revenue cycle management executives.
Healthcare Industry Highlight: Revenue Cycle ManagementCascadia_Capital
In our most recent Healthcare Industry Highlight Report on Revenue Cycle Management, we outline the trends driving consolidation and increased market activity and make predictions on the outlook and future of the RCM ecosystem.
Lean Strategies in Healthcare Revenue Cycle ManagementInvensis
Did you know? Revenue cycle inefficiencies accounted for 15% of 2.7 trillion spent on healthcare, or about $400 billion. Join Dr. Steven M Wagner to understand how to align continuous quality improvement through lean method for staff and management to overcome income obstacles in healthcare and help them to learn and experiment with strategies to address them.
Eight strategies to get paid - Revenue Cycle ManagementJames Muir
Join revenue cycle management expert Elizabeth Woodcock & James Muir to dissect the eight strategies for surviving and thriving in today’s turbulent reimbursement environment. This webinar will empower you with solutions to make your practice a top performer. In addition, attendees of this live webinar can quality for CEU credits.*
After this session, you’ll be able to:
Evaluate payer contracting opportunities and pitfalls
Determine contract management procedures to ensure appropriate payment
Implement effective methods of setting patient’s expectations for payment – before the visit
Apply time-of-service collections techniques
Develop denial prevention and management procedures
Assess technologies to support efficient revenue cycle management
Identify staffing needs for successful revenue cycle management
Differentiate the elements of reporting key performance indicators for revenue cycle management
Healthcare Industry Highlight: Revenue Cycle ManagementCascadia_Capital
In our most recent Healthcare Industry Highlight Report on Revenue Cycle Management, we outline the trends driving consolidation and increased market activity and make predictions on the outlook and future of the RCM ecosystem.
Lean Strategies in Healthcare Revenue Cycle ManagementInvensis
Did you know? Revenue cycle inefficiencies accounted for 15% of 2.7 trillion spent on healthcare, or about $400 billion. Join Dr. Steven M Wagner to understand how to align continuous quality improvement through lean method for staff and management to overcome income obstacles in healthcare and help them to learn and experiment with strategies to address them.
Eight strategies to get paid - Revenue Cycle ManagementJames Muir
Join revenue cycle management expert Elizabeth Woodcock & James Muir to dissect the eight strategies for surviving and thriving in today’s turbulent reimbursement environment. This webinar will empower you with solutions to make your practice a top performer. In addition, attendees of this live webinar can quality for CEU credits.*
After this session, you’ll be able to:
Evaluate payer contracting opportunities and pitfalls
Determine contract management procedures to ensure appropriate payment
Implement effective methods of setting patient’s expectations for payment – before the visit
Apply time-of-service collections techniques
Develop denial prevention and management procedures
Assess technologies to support efficient revenue cycle management
Identify staffing needs for successful revenue cycle management
Differentiate the elements of reporting key performance indicators for revenue cycle management
Dan Wellisch gave this presentation to the Chicago Technology For Vaue Based Healthcare Meetup at https://www.meetup.com/Chicago-Technology-For-Value-Based-Healthcare-Meetup/
Sun Knowledge - Practice Management and Revenue Cycle Management Services PPTMichael Smith
Sun Knowledge – A Practice Management and Revenue Cycle Management Company.
Contact Details:
New York Office - 41 Madison Avenue, 25th Floor, NY 10010
Phone - +1 212-400-6100, Email - contact@sunknowledge.com
Website - www.sunknowledge.com
Facebook - https://www.facebook.com/SunKnowledge
Twitter - https://twitter.com/sunknowledge
LinkedIn - https://www.linkedin.com/company/sun-knowledge
Google plus - https://plus.google.com/+SunknowledgeInc
We provide our tailored solutions for any healthcare practices helping them gain more reimbursements with reduced TAT. Over the years, we have developed our specialization with an astute understanding of Payer processes helping you set the tone with better collections.
Our clients prefer us for:
~ Powerful references from major healthcare providers and health insurance payers
~ Instant reduction of billing costs by 70%
~ Managing high volume claims with robust processes
~ Collections of up to 97%
~ 99% medical billing & coding accuracy
Sun Knowledge is a revenue cycle management company and expert in various practice management software. We also provide services for following medical billings, medical coding, account receivable, denial managements, claims adjudications, claim processing, authorization and verification, insurance follow up, and many more.
We are specialize in Hospitals, urgent care centers, DME, orthotics, prosthetics, Nursing home, physician office and many more billing industry.
PYA Healthcare Consulting Senior Manager Robert Mundy co-presented during, “Valuing Hospitals,” Thursday, July 31, at 1 p.m. EST. This webinar explores the changing world of hospital economics, regulations, and valuations and how appraisers can best prepare themselves for both the opportunities and challenges that lie ahead.
6 revenue cycle metrics you must be tracking nowango mark
Learn how you can improve the financial performance year on year. Leverage your practice revenue cycle metrics by setting benchmarks & KPIs for your billing department - http://bit.ly/2hwlqpm
You know medical billing is a crucial part of your private practice, but why exactly is it so vital? This presentation explains why medical billing is a matter of survival. Claims must be submitted in a timely manner in order for physicians to get paid for their services.
Looking for ways to maximize reimbursement? Interested in outsourcing your medical billing?
Visit Our Website: http://www.CaptureBilling.com/
Healthcare Revenue Cycle: How to Improve Data Timeliness and Reduce Manual WorkHealth Catalyst
With cash flows declining, margins tightening and bad debt increasing, it’s more important than ever for healthcare organizations to maintain their bottom line. Efficient, effective revenue cycle management that ensures timely payment is one key to an organization’s financial health. Learn how this healthcare system: a) improved their data timeliness, b) realized an estimated $380K in annual operational savings, and c) reduced manual work.
Cardiology Coding Got You Down? Use These 5 Tips for Success!Manny Oliverez
Struggling with billing for your cardiology practice? In this presentation, we discuss 5 challenges to proper documentation and coding in a cardiology practice. These challenges include human errors, lack of knowledge regarding current coding and documentation standards, working and charting in multiple care environments, and/or not coding to the highest degree of specificity.
Visit Our Website: http://www.CaptureBilling.com/
Real World Issues with Implementing Compliant Financial Assistance and Billin...PYA, P.C.
PYA co-presented “Real World Issues with Implementing Compliant Financial Assistance and Billing and Collection Policies” at the 2014 AHLA Tax Issues for Health Care Organizations program.
PYA Principal Carol Carden recently spoke on the topic “Valuation Issues in Healthcare” at the Tennessee Society of Certified Public Accountants’ Healthcare Conference.
What hospitals need to do to increase referral profitability?GaryRichards30
Today most of the healthcare systems are functioning in silos due to disparate systems that do not communicate with one another effectively. It is a well-understood fact that the current referral process makes it difficult for patients to get the care they need. None of the health systems can afford to lose more than half of their revenue to referral leakage effects. However, with the advent of new healthcare technology, it is possible to improve overall efficiency, increase referral profitability and improve patient outcomes.
Learn how to identify and track indicators of your company's financial health. Dave Justus, Kareo's Chief Financial Officer, and Ted Stack, founder of Falcon Capital Partners, will discuss the key performance benchmarks and insights you should pay attention to when working to optimize your billing company business.
Dan Wellisch gave this presentation to the Chicago Technology For Vaue Based Healthcare Meetup at https://www.meetup.com/Chicago-Technology-For-Value-Based-Healthcare-Meetup/
Sun Knowledge - Practice Management and Revenue Cycle Management Services PPTMichael Smith
Sun Knowledge – A Practice Management and Revenue Cycle Management Company.
Contact Details:
New York Office - 41 Madison Avenue, 25th Floor, NY 10010
Phone - +1 212-400-6100, Email - contact@sunknowledge.com
Website - www.sunknowledge.com
Facebook - https://www.facebook.com/SunKnowledge
Twitter - https://twitter.com/sunknowledge
LinkedIn - https://www.linkedin.com/company/sun-knowledge
Google plus - https://plus.google.com/+SunknowledgeInc
We provide our tailored solutions for any healthcare practices helping them gain more reimbursements with reduced TAT. Over the years, we have developed our specialization with an astute understanding of Payer processes helping you set the tone with better collections.
Our clients prefer us for:
~ Powerful references from major healthcare providers and health insurance payers
~ Instant reduction of billing costs by 70%
~ Managing high volume claims with robust processes
~ Collections of up to 97%
~ 99% medical billing & coding accuracy
Sun Knowledge is a revenue cycle management company and expert in various practice management software. We also provide services for following medical billings, medical coding, account receivable, denial managements, claims adjudications, claim processing, authorization and verification, insurance follow up, and many more.
We are specialize in Hospitals, urgent care centers, DME, orthotics, prosthetics, Nursing home, physician office and many more billing industry.
PYA Healthcare Consulting Senior Manager Robert Mundy co-presented during, “Valuing Hospitals,” Thursday, July 31, at 1 p.m. EST. This webinar explores the changing world of hospital economics, regulations, and valuations and how appraisers can best prepare themselves for both the opportunities and challenges that lie ahead.
6 revenue cycle metrics you must be tracking nowango mark
Learn how you can improve the financial performance year on year. Leverage your practice revenue cycle metrics by setting benchmarks & KPIs for your billing department - http://bit.ly/2hwlqpm
You know medical billing is a crucial part of your private practice, but why exactly is it so vital? This presentation explains why medical billing is a matter of survival. Claims must be submitted in a timely manner in order for physicians to get paid for their services.
Looking for ways to maximize reimbursement? Interested in outsourcing your medical billing?
Visit Our Website: http://www.CaptureBilling.com/
Healthcare Revenue Cycle: How to Improve Data Timeliness and Reduce Manual WorkHealth Catalyst
With cash flows declining, margins tightening and bad debt increasing, it’s more important than ever for healthcare organizations to maintain their bottom line. Efficient, effective revenue cycle management that ensures timely payment is one key to an organization’s financial health. Learn how this healthcare system: a) improved their data timeliness, b) realized an estimated $380K in annual operational savings, and c) reduced manual work.
Cardiology Coding Got You Down? Use These 5 Tips for Success!Manny Oliverez
Struggling with billing for your cardiology practice? In this presentation, we discuss 5 challenges to proper documentation and coding in a cardiology practice. These challenges include human errors, lack of knowledge regarding current coding and documentation standards, working and charting in multiple care environments, and/or not coding to the highest degree of specificity.
Visit Our Website: http://www.CaptureBilling.com/
Real World Issues with Implementing Compliant Financial Assistance and Billin...PYA, P.C.
PYA co-presented “Real World Issues with Implementing Compliant Financial Assistance and Billing and Collection Policies” at the 2014 AHLA Tax Issues for Health Care Organizations program.
PYA Principal Carol Carden recently spoke on the topic “Valuation Issues in Healthcare” at the Tennessee Society of Certified Public Accountants’ Healthcare Conference.
What hospitals need to do to increase referral profitability?GaryRichards30
Today most of the healthcare systems are functioning in silos due to disparate systems that do not communicate with one another effectively. It is a well-understood fact that the current referral process makes it difficult for patients to get the care they need. None of the health systems can afford to lose more than half of their revenue to referral leakage effects. However, with the advent of new healthcare technology, it is possible to improve overall efficiency, increase referral profitability and improve patient outcomes.
Learn how to identify and track indicators of your company's financial health. Dave Justus, Kareo's Chief Financial Officer, and Ted Stack, founder of Falcon Capital Partners, will discuss the key performance benchmarks and insights you should pay attention to when working to optimize your billing company business.
The Foundations of Success in Population Health ManagementHealth Catalyst
From hospital systems to large employers, organizations are increasingly taking on financial risk for the health of populations. Drivers of this trend include the update to the MSSP model, the recent CMS Primary Cares Initiative announcement, the increasing prevalence of the Medicare Advantage model, innovative partnerships in the self-insured employer space, and the proliferation of Medicaid ACOs. Yet while market pressures push organizations toward population risk, they don't necessarily help them succeed: most organizations are struggling to attain or sustain the dual imperatives of high-quality care and cost containment. A primary reason? Short-sighted and tactical approaches that don't provide the flexible data infrastructure and tools to adapt to emerging trends in population health—or to support short-term contractual requirements while building toward long-term success.
View this launch webinar to learn about Health Catalyst’s Population Health Foundations solution, a data and analytics-first starter set aimed at optimizing performance in value-based risk arrangements and providing the data ecosystem that will flex and adapt to complex needs of risk-bearing organizations. Solution services ensure that the strategic value of data is maximized to improve performance in risk contracts—and provide side-by-side subject matter expert partnership for establishing short- and long-term goals for population health management (PHM).
Built on Health Catalyst’s foundational technology and supported by the nationwide experience and perspective of its experts, the Population Health Foundations solution helps organizations leverage multiple data sources to understand their patient populations and create meaningful views of financial and clinical quality performance. As a starter set that organizations can build on based on their needs, the solution is designed to compensate for the known limitations of “black box” population health applications that fail to reveal the “why” of analytic insights and exacerbate the challenges of transforming quality, cost, and care. The Population Health Foundations solution delivers the essential analytic tools needed for success under value-based risk arrangements.
In these slides you can expect to:
- Review recent changes to the field of value-based care, and reactions and insights from the market
- Discover how the Population Health Foundations solution can act as a comprehensive, data-first analytics solution to support your population stratification and monitoring needs
- Understand how this solution functions as a foundational starter set for value-based care success, enabling clients to leverage all their data and other relevant population health tools
in order to meet cost reduction targets, CMOs
* Share patient data across ecosystems
* Embed shared organizational intelligence
* Establish guidance for quality & cost within physician workflows
* Prepare physician leaders to create a culture of continual improvement
How Can An Effective Medical Referral Management Increase Revenue up to 65% GaryRichards30
Referral management solution has come as an asset to the healthcare industry to improve care coordination, increase referral volumes and revenue, reduce readmissions and improve outcomes. Secure messaging is a critical aspect of the healthcare industry. Referral Management Solution allows the providers to seamlessly communicate for exchanging patient related data and for improving patient care through a secure network. Watch how an effective medical referral management increase revenue upto 65%
Provides an overview of the current revenue cycle management and its processes and offers a point-of-view on today’s RCM trends and areas of transformation.
Top Healthcare and Revenue Cycle Trends to watch for in 2019Manish Jain
2017 required healthcare organizations to respond to several new challenges – political change, growing role of technology, shift to value-based care and the increasing role of information security. While we anticipate that these issues will continue to influence through 2018, we will also see new challenges. The blurring lines between providers and payers, a refocusing on care (and more so on the patient), and a changing policy environment will occupy the center stage for 2018.
Want to better understand what's driving value-based clinical and financial transformation? And, what you need to do to start planning for implementation?
Referral management solution is the need of the hour for large hospitalsGaryRichards30
With the ever-evolving healthcare environment and exponential advances in health IT there are a lot of decisions that hospitals/health systems need to take to provide quality care for their patients’. Health systems are struggling to manage their clinical, operational and monetary challenges.
CMS Core Measures Compliance: Best Practices for Data Collection, Analysis and Reporting
For many hospitals, the primary challenge with the core measure program is not achieving quality standards, but complying with the complex, time-consuming reporting process and staying current with constantly changing regulations.
State of the Independent Practice: What it Means For YouKareo
Join Kareo as we discuss the results from our recent nation-wide survey of 1,000 medical practices. We'll discuss our findings from the survey and how these insights will shape your billing company's future growth.
Benefits of Reporting Tools for Risk Adjustment WorkflowsInferscience
Inferscience offers the best medicare risk adjustment coding technology in Newton, MA. The risk adjustment (RA) workflow process in healthcare is here to stay, and even if organizations are slowly catching up, there are a lot of gaps that need to be closed for it to become more efficient. There are several ways to help providers catch up and improve their workflows that will help their health outcome management and, by and large, improve their RAF scores.
More than 60% of providers struggle to derive optimal value from their EHRs and 85% believe consumer self-pay will continue to impact their organizations, according to an annual HFMA/Navigant survey of 108 provider CFOs and revenue cycle executives.
Healthcare providers are ready and planning to assume increased levels of risk through commercial payer and Medicare contracting models and Medicare Advantage, according to a new Navigant analysis based on a survey conducted by HFMA.
Preparing for today's challenges. Presentation includes key components and industry trends, organizational success factors, key performance indicators, and a client case study.
The Fall, and Likely Rise, of Unpaid Medical Bills
Hospitals have experienced improvements in uncompensated care revenue, primarily due to the ACA. But reform and economic uncertainty are creating a perfect storm that could erase this momentum.
Reining in Corporate Overhead
“No margin, no mission” emphasizes the need for strong fiscal management for providers to fulfill their missions. With a Navigant analysis showing provider operating margins dropping, 2018 may be the year of reining in corporate overhead.
Managing Up Physician Acquisitions
Integrating acquired physician practices has been an ongoing struggle for health systems. To overcome this challenge, providers need to manage up return on these acquisitions, rather than manage down the losses.
Medicare Advantage’s Rising Star
Ongoing reform uncertainty has payers saturating an already crowded Medicare Advantage (MA) market. A Navigant analysis shows how MA star ratings improvements can grow plan enrollment and revenue.
Re-evaluating Value-based Investments
While the future of Medicare value-based contracting is murky, providers should stay the course on their value-based care journey.
The fourth quarter of 2017 was marked by Department of Justice (DOJ) policy change announcements, robust international cooperation, and a challenge to the conventional wisdom that Foreign Corrupt Practices Act (FCPA) enforcement will be diminished under the current administration.
Frequency of lawsuits has increased dramatically in recent periods, with over 50% more in the last two quarters than in the three previous review periods combined, accounting for 12% of all actions in the last year. This trend of financial institutions refusing to settle and forcing regulators to sue is evident in several high-visibility suits.
During the recently completed third quarter of 2017, the Department of Justice resolved one matter and the Securities and Exchange Commission resolved two matters. While this was a slow quarter in terms of the number of enforcement actions, the financial impact was significant as the Telia global settlement involved financial penalties and disgorgement of approximately $965 million to be allocated between U.S., Dutch, and Swedish authorities.
The second quarter of 2017 was relatively quiet from an enforcement perspective. Two Magyar Telekom executives settled cases that the Securities and Exchange Commission had filed against them, and two entities received declination letters from the Department of Justice.
During the first quarter of 2017, the Department of Justice and the Securities and Exchange Commission resolved a combined six matters with penalties and disgorgements exceeding $257 million. The cases spanned over five industries, highlighting that no industry is immune to regulatory scrutiny.
Hospitals and health systems are struggling to maximize the benefits of innovative technology to better manage uncompensated care and revenue integrity, suggests a HFMA/Navigant survey of 125 provider CFOs and revenue cycle management executives.
Reduce Supply Chain Expenses While Maintaining Care QualityGuidehouse
A Navigant analysis magnifies the opportunity that U.S. hospitals have to save billions of dollars by further streamlining supply chain processes and associated product use — without affecting quality. According to the study, hospitals nationwide could reduce their supply chain budgets by 17.8 percent on average.
Cold Sores: Causes, Treatments, and Prevention Strategies | The Lifesciences ...The Lifesciences Magazine
Cold Sores, medically known as herpes labialis, are caused by the herpes simplex virus (HSV). HSV-1 is primarily responsible for cold sores, although HSV-2 can also contribute in some cases.
ALKAMAGIC PLAN 1350.pdf plan based of door to door delivery of alkaline water...rowala30
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This document is designed as an introductory to medical students,nursing students,midwives or other healthcare trainees to improve their understanding about how health system in Sri Lanka cares children health.
KEY Points of Leicester travel clinic In London doc.docxNX Healthcare
In order to protect visitors' safety and wellbeing, Travel Clinic Leicester offers a wide range of travel-related health treatments, including individualized counseling and vaccines. Our team of medical experts specializes in getting people ready for international travel, with a particular emphasis on vaccines and health consultations to prevent travel-related illnesses. We provide a range of travel-related services, such as health concerns unique to a trip, prevention of malaria, and travel-related medical supplies. Our clinic is dedicated to providing top-notch care, keeping abreast of the most recent recommendations for vaccinations and travel health precautions. The goal of Travel Clinic Leicester is to keep you safe and well-rested no matter what kind of travel you choose—business, pleasure, or adventure.
Trauma Outpatient Center is a comprehensive facility dedicated to addressing mental health challenges and providing medication-assisted treatment. We offer a diverse range of services aimed at assisting individuals in overcoming addiction, mental health disorders, and related obstacles. Our team consists of seasoned professionals who are both experienced and compassionate, committed to delivering the highest standard of care to our clients. By utilizing evidence-based treatment methods, we strive to help our clients achieve their goals and lead healthier, more fulfilling lives.
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Letter to MREC - application to conduct studyAzreen Aj
Application to conduct study on research title 'Awareness and knowledge of oral cancer and precancer among dental outpatient in Klinik Pergigian Merlimau, Melaka'
Empowering ACOs: Leveraging Quality Management Tools for MIPS and BeyondHealth Catalyst
Join us as we delve into the crucial realm of quality reporting for MSSP (Medicare Shared Savings Program) Accountable Care Organizations (ACOs).
In this session, we will explore how a robust quality management solution can empower your organization to meet regulatory requirements and improve processes for MIPS reporting and internal quality programs. Learn how our MeasureAble application enables compliance and fosters continuous improvement.
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Explore the groundbreaking work of Dr. David Greene, a pioneer in regenerative medicine, who is revolutionizing the field of cardiology through stem cell therapy in Arizona. This ppt delves into how Dr. Greene's innovative approach is providing non-surgical, effective treatments for heart disease, using the body's own cells to repair heart damage and improve patient outcomes. Learn about the science behind stem cell therapy, its benefits over traditional cardiac surgeries, and the promising future it holds for modern medicine. Join us as we uncover how Dr. Greene's commitment to stem cell research and therapy is setting new standards in healthcare and offering new hope to cardiac patients.
PET CT beginners Guide covers some of the underrepresented topics in PET CTMiadAlsulami
This lecture briefly covers some of the underrepresented topics in Molecular imaging with cases , such as:
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- Distinguishing between MPM and Talc Pleurodesis.
- Urological tumors.
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Rate Controlled Drug Delivery Systems, Activation Modulated Drug Delivery Systems, Mechanically activated, pH activated, Enzyme activated, Osmotic activated Drug Delivery Systems, Feedback regulated Drug Delivery Systems systems are discussed here.
INFECTION OF THE BRAIN -ENCEPHALITIS ( PPT)blessyjannu21
Neurological system includes brain and spinal cord. It plays an important role in functioning of our body. Encephalitis is the inflammation of the brain. Causes include viral infections, infections from insect bites or an autoimmune reaction that affects the brain. It can be life-threatening or cause long-term complications. Treatment varies, but most people require hospitalization so they can receive intensive treatment, including life support.
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3. Survey At-a-Glance
According to an HFMA/Navigant survey of
125 hospital and health system CFOs and
revenue cycle management (RCM)
executives:
• Technology budgets are growing, but providers struggle to realize
technology impact.
• Less than half of providers have established revenue integrity
programs, but those that have are benefiting from them.
• The majority of executives are concerned about consumer self-pay
and uncompensated care.
3
4. 4
of respondents say their
revenue cycle technology
budget is increasing and
tech advancements are a
priority.
Technology budgets
are growing, but
providers struggle to
realize the benefits of
innovation —
especially when it
comes to electronic
health records (EHRs).
5. 4%
5%
6%
13%
15%
18%18%
22%
of these areas
involve or are
enabled by
technology
79%
Providers Focus Mainly on Technology to Drive RCM
Improvements
REVENUE
INTEGRITY
EHR
WORKFLOW/
REPORTING
SELF-PAY
MANAGEMENT
CODING LABOR
UTILIZATION
PHYSICIAN/
CLINICIAN
DOCUMENTATION
BUSINESS
INTELLIGENCE/
ANALYTICS
STAFF
TRAINING/
INCENTIVES
Which RCM capability or tactic is your
organization most focused on for
improvement over the next year?
6. Nearly Three-Quarters of Respondents Will
Increase Revenue Cycle Technology Spend
32%
42%
19%
7%
0%
Increasing > 5%+ Increasing 0-5% No Change Decreasing 0-5% Decreasing >5%
How is your organization's revenue cycle technology budget changing?
Consider all clinical and business RCM technology budgets.
Percent increasing
spend by bed size:
77% <100 beds
78% 100-500 beds
65% >500 beds
7. To what extent is your organization able to
implement/utilize new functional releases
from your EHR (workflow, reporting,
functional enhancements)?
7
Underutilize
functions available
49% 13% 38%
Quickly adapt to
functional releases
Are not able to keep
up with releases
8. • 54 percent of revenue cycle leaders
say “yes” versus 40 percent of
CFOs
Underutilize functions today
• 27 percent of revenue cycle leaders
say “yes” versus 47 percent of
CFOs
This Perspective Changes Depending on Job Title
8
54% 40%
Quickly able to implement/utilize new
functional releases from EHR
47%27%
revenue cycle
leaders
revenue cycle
leaders
CFOs
CFOs
9. Providers Struggle to Track Technology
Enhancement Effectiveness
How do you measure the effectiveness of your technology changes?
9
21%
27%
35%
38%
41%
Vendor Reductions
Customer/Patient
Satisfaction
Overhead Reduction
Return on Investment
We Do Not Measure
10. 10
“As new technologies are implemented, it is
critical to understand and plan for linkages
across clinical and financial activities to
optimize workflow and reporting in both
environments. By adopting a holistic
approach to technology evaluation and
design, providers should benefit from
automation, scale, and process
improvement, thus positively impacting
quality and financial outcomes.”
Mary Beth Briscoe, CFO, UAB Hospital &
UAB Medicine Clinical Operations
Technology Strategy
11. 11
Revenue integrity (RI)
is essential to ensuring
that revenue is accurate
in coding and charge
capture, contains
reasonable pricing for
services provided, and
complies with laws and
regulations.
12. 12
OVERALL INCREASE
IN NET COLLECTION
OVERALL GROSS
REVENUE CAPTURE
61%61%68%
REDUCTION IN
COMPLIANCE RISKS
Providers With RI Programs are Achieving
Significant Benefits
Which problems/issues has your revenue
integrity program helped your organization
address?
Many health systems lack a
comprehensive RI approach.
say their organizations have
established RI programs.
44%
13. Please indicate which areas within your organization have deployed a
clinical documentation integrity (CDI) technology solution.
13
Inpatient Outpatient Clinics
Almost All Respondents Have an Inpatient
CDI Solution, but Only One-Third Have an Outpatient One
14. 14
“Revenue integrity should be the glue that
binds clinical operations with coding and
business office functions. It’s clear that
providers with established RI programs are
benefiting from them, and expanding their
scope will help yield long-term financial
reporting reliability and operational
efficiencies.”
—Jake Morris, managing director, Navigant
Focusing on Revenue
Integrity is Key
15. 15
Patient Engagement and Consumer Self-Pay
Engaging and
educating patients
and customizing
communications
are essential in
the changing
reimbursement
environment.
16. 9 in 10
Executives believe
consumer responsibility
for healthcare costs
will continue to
affect revenue.
What impact do you believe the potential increase in consumer
responsibility for healthcare costs will have on your organization?
16
No Impact Little Impact
Moderate
Impact
Significant
Impact
Almost All Providers Concerned About Increase in
Consumer Self-Pay
52%
40%
8%0%
Among them,
almost twice as
many rural executives
(58 percent) believe
that the impact will be
significant, compared
with urban
respondents.
17. 17
Providers Accessing More Consumer-Friendly Means
to Enable Patient Payment
Leveraging innovative
technology is again a challenge
for providers: Just 14 percent
use advanced modeling tools
for segmenting and predicting
propensity to pay, with fewer
than one in four using a data
source or external partner.
14%USE ADVANCED
MODELING/TOOL
Providers are accessing more consumer-friendly means to enable patient
payment: 93 percent offer an online payment portal and 63 percent offer
cost-of-care estimation tools.
18. 18
“It is essential for healthcare leaders to
apply a discipline to patient financial
communications. This should include
when and where conversations may
be conducted, who should be
engaged, and guidance for discussing
issues such as financial assistance
and prior balances.”
―Sandra Wolfskill, director of healthcare
finance policy, revenue cycle MAP, HFMA
Moving from Hospital
to Hospitality
19. About Navigant
Navigant Consulting, Inc. (NYSE: NCI) is a specialized, global
professional services firm focused on markets and clients facing
transformational change and significant regulatory or legal pressures,
primarily in the energy, financial services, and healthcare industries.
Navigant’s Healthcare practice is composed of more than 500
consultants, former provider administrators, clinicians, and other
experts with decades of strategy, operational/clinical consulting,
managed services, revenue cycle management, and outsourcing
experience. Experts collaborate with hospitals and health systems,
physician enterprises, payers, and government entities, providing
enterprise-wide strategic development and performance-improvement
solutions. More information about Navigant can be found
at navigant.com.
19
20. About HFMA
With more than 40,000 members, the Healthcare Financial
Management Association (HFMA) is the nation's premier membership
organization for healthcare finance leaders. HFMA builds and supports
coalitions with other healthcare associations and industry groups to
achieve consensus on solutions for the challenges the U.S. healthcare
system faces today. Working with a broad cross-section of
stakeholders, HFMA identifies gaps throughout the healthcare delivery
system and bridges them through the establishment and sharing of
knowledge and best practices. We help healthcare stakeholders
achieve optimal results by creating and providing education, analysis,
and practical tools and solutions. Our mission is to lead the financial
management of healthcare.
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21. Contact us
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Got a question about revenue cycle management? Talk to one of our
experts:
JAKE MORRIS
Managing Director
Navigant
T 312.583.6868
E jake.morris@Navigant.com
Learn more at navigant.com/RCMInsights
ERICK MCKESSON
Director
Navigant
T 303.383.7320
E erick.mckesson@navigant.com