This document outlines challenges faced by medical practices and provides solutions to optimize cash flow. It discusses issues with slow insurance payments, high rejection rates, and difficulty collecting from patients. Other challenges include keeping up with coding changes, compliance with documentation and auditing requirements, and implementing electronic health records. The document proposes solutions such as outsourcing billing to reduce costs and speed up reimbursements. It also recommends automating patient payments and implementing marketing to improve retention. Compliance services are suggested to help practices pass audits and avoid penalties. Overall, the solutions claim to cure all the outlined challenges and increase practice profitability.
In less time than it takes to finish a cup of coffee, find out if health reimbursement accounts (HRAs) could work for your business. WEA Trust covers the definition, advantages, disadvantages and can't-miss facts about this popular health benefit option.
In less time than it takes to finish a cup of coffee, find out if health reimbursement accounts (HRAs) could work for your business. WEA Trust covers the definition, advantages, disadvantages and can't-miss facts about this popular health benefit option.
Physician Contracting for Exceptional HospitalsMD Ranger, Inc.
Some hospitals have complexities that require careful consideration while determining a physician contracting compliance process. This video will help you identify potential solutions for academic medical centers, children's hospitals, trauma centers, and small hospitals.
Healthcare plans are customized for each client. Insurance companies have to incorporate all changes negotiated for each customer into their automated system.
Carole-Ann will present techniques that have been adopted by Healthcare Insurers to reduce the number of business rules into their systems, and therefore reduce the maintenance on their traditionally creeping systems.
Learn how to utilize 24/7 Healthcare Advocacy to streamline operations, increase customer service & retention and offer peace-of-mind to clients and plan members.
Business case for a new technology: checklist to secure reimbursement.Mark. Charny
Things to think about when considering how your technology might secure reimbursement.
A checklist based on Transluceny's 16 years of experience completing around 700 projects. Not every item is relevant to every product but we hope you find it helpful in thinking through your positioning, capitalising on what you do know, and working out how best to bridge any gaps in the evidence supporting the case you want to make.
http:bit.ly/1QT0cgd
Tufts Research: Strategies from Data Management Leaders to Speed Clinical TrialsVeeva Systems
Watch the video here: https://bit.ly/3wChmGQ
Learn how top pharmas and CROs plan to speed database build and data collection, as well as their top challenges and future priorities. In this webinar you'll gain insights into:
* Taking an agile approach to database build
* Reducing UAT timelines with a risk-based approach
* Driving innovation at your organization
This in-depth research from Tufts follows their industry-wide eClinical Landscape Study, examining the major cause of database build delays and their impact on trial cycle times.
Meet Your Presenters:
Ken Getz
Director of Sponsored Programs, Tufts CSDD
Richard Young
Vice President, Vault EDC, Veeva Systems
Conventus: Maintaining healthcare practice profitability without sacrificing ...Conventus
Conventus presents key concepts for increasing healthcare practice profitability without sacrificing quality of care through the use of workflow analysis and improvement. This presentation, developed by Susan Lieberman, Vide President of Risk Management for Conventus Medical Liability Insurance.
Multi-Facility Physician Contracts: Tips for Health SystemsMD Ranger, Inc.
Health systems face unique challenges including on the physician contracting front. Learn:
--The benefits of multi-facility contracts from both a financial and an operational standpoint
--How much multi-facility contracts can save over multiple individual contracts
--About documenting FMV for multi-facility arrangements
Physician Contracting Whack-A-Mole: Playing to WinMD Ranger, Inc.
Healthcare organizations often struggle with developing processes and best practices for both the creation and the execution of physician agreements. By knowing the risks, you can squash problems before they pop up as potential violations with serious consequences.
This slide deck covers best practices healthcare leaders can use to refine their organization’s financial and compliance processes, including:
-Educating staff
-Determining and documenting FMV
-Identifying and handling potentially risky contracts
-Examples of and solutions to risky situations
Save time with our EMR and Practice management web-based software. See why it's built to last and how it will boost your productivity. Find out more about us at http://www.waitingroomsolutions.com
Designing an EDC System to Work for a CRAVeeva Systems
Watch the video here: https://bit.ly/3h8gHIU
Targeted source data verification (SDV) might be well established, but many clinical teams are still verifying 100% of their data, making monitoring costly and inefficient.
By warching this on demand webinar, you will hear established RBM experts share the measures and metrics that organizations need to realize the true value of targeted SDV. Learn better ways to implement a risk-based strategy for SDV to ensure that CRAs focus on the most important data and how doing so can:
* Improve data quality
* Speed data collection and analysis
* Result in higher confidence and user satisfaction
Learn how Veeva is reinventing EDC to work for a CRA, creating significant speed and quality improvements.
Who Will Benefit:
Senior professionals working with clinical data/clinical documentation, including:
* Clinical Development/ R&D
* Clinical Data Management
* eClinical Operations
* Data Monitoring & Management
* Development Strategic Operations
* Information Strategy & Analytics, Clinical Informatics & Innovation
* Information Technology, R&D IT
* IT R&D Business Partner
Meet Your Presenters:
Drew Garty
Chief Technology Officer, Veeva Vault CDMS, Veeva
Drew Garty’s career in pharmaceutical technology spans over 20 years and includes significant expertise in EDC, clinical site monitoring, platform integrations and clinical trial management solutions. Drew’s innovative solutions in risk-based monitoring earned him a prestigious industry “Clinical Innovator of the Year” award in 2015. Drew joined Veeva in 2016 as Vice President of Product Management, and led the ground-up design of Veeva’s Vault EDC solution. In his current role of Chief Technology Officer at Vault CDMS, Drew shares and collaborates with customers, partners and the industry to set vision and direction of Veeva’s CDMS product.
Dawn Anderson
Managing Director, Life Sciences Strategy and Operations, Deloitte
Dawn has more than 30 years of industry and consulting experience in pharmaceutical, biotechnology, CROs, and technology companies. Her practice is focused on clinical development and she works with clients to design and deploy global operating strategy, performance improvement and technology implementations across the development of new drugs, biologics and devices. Dawn has spoken frequently about clinical transformation and the future of clinical trials, including topics around adaptive design, protocol complexity, risk assessments and the use of technology including virtual trials, digital, mHealth and the use of clinical analytics platforms and cognitive automation in transforming clinical trial delivery.
Establishment of decision support tools for environmental monitoring of priority and emerging contaminants using novel technologies and data management tools.
With Attune’s Business Intelligence Solution for Hospitals, by harmonizing your operations data from billing, cash, remittance, procurement to clinical performance, you can now monitor and forecast financial and operational performance more effectively. Mobile dashboards allow your executives to stay in touch with recent developments in the revenue cycle at all times.
Electronic Medical Records - Avoid these 5 mistakes in your practiceJane Adler
Electronic Medical Records Adoption and Meaningful Use - These 5 expensive mistakes can keep you from achieving meaningful use and a return on your EMR investment
With unprecedented change on the horizon, healthcare organizations are looking to redefine their workflows to focus on quality and efficiency.
Through utilizing SIMUL8 and Lean Six Sigma principles, ECG Management Consultants, Inc. has been able to help clinics and health systems to deliver on the new value proposition in the post-reform era.
Take a comprehensive look at how revenue cycle management affects home health and hospice agencies, as well as the performance metrics and best practices for improving agency effectiveness.
Revenue Cycle Management in healthcare encompasses the entire administrative process involved in getting paid for the services you provide to your patients. The process begins when a patient first calls to schedule an appointment and ends when all fees have been collected and verified.
Medical billing is becoming increasingly more complex. It is only going to get more difficult as new codes are added and more detailed patient information is required to be submitted with the claim. Add to that, physicians and other service providers are required by various insurers to provide details not previously necessary.
One small error can result in the claim not being paid promptly, completely or possibly even being denied.
Physician Contracting for Exceptional HospitalsMD Ranger, Inc.
Some hospitals have complexities that require careful consideration while determining a physician contracting compliance process. This video will help you identify potential solutions for academic medical centers, children's hospitals, trauma centers, and small hospitals.
Healthcare plans are customized for each client. Insurance companies have to incorporate all changes negotiated for each customer into their automated system.
Carole-Ann will present techniques that have been adopted by Healthcare Insurers to reduce the number of business rules into their systems, and therefore reduce the maintenance on their traditionally creeping systems.
Learn how to utilize 24/7 Healthcare Advocacy to streamline operations, increase customer service & retention and offer peace-of-mind to clients and plan members.
Business case for a new technology: checklist to secure reimbursement.Mark. Charny
Things to think about when considering how your technology might secure reimbursement.
A checklist based on Transluceny's 16 years of experience completing around 700 projects. Not every item is relevant to every product but we hope you find it helpful in thinking through your positioning, capitalising on what you do know, and working out how best to bridge any gaps in the evidence supporting the case you want to make.
http:bit.ly/1QT0cgd
Tufts Research: Strategies from Data Management Leaders to Speed Clinical TrialsVeeva Systems
Watch the video here: https://bit.ly/3wChmGQ
Learn how top pharmas and CROs plan to speed database build and data collection, as well as their top challenges and future priorities. In this webinar you'll gain insights into:
* Taking an agile approach to database build
* Reducing UAT timelines with a risk-based approach
* Driving innovation at your organization
This in-depth research from Tufts follows their industry-wide eClinical Landscape Study, examining the major cause of database build delays and their impact on trial cycle times.
Meet Your Presenters:
Ken Getz
Director of Sponsored Programs, Tufts CSDD
Richard Young
Vice President, Vault EDC, Veeva Systems
Conventus: Maintaining healthcare practice profitability without sacrificing ...Conventus
Conventus presents key concepts for increasing healthcare practice profitability without sacrificing quality of care through the use of workflow analysis and improvement. This presentation, developed by Susan Lieberman, Vide President of Risk Management for Conventus Medical Liability Insurance.
Multi-Facility Physician Contracts: Tips for Health SystemsMD Ranger, Inc.
Health systems face unique challenges including on the physician contracting front. Learn:
--The benefits of multi-facility contracts from both a financial and an operational standpoint
--How much multi-facility contracts can save over multiple individual contracts
--About documenting FMV for multi-facility arrangements
Physician Contracting Whack-A-Mole: Playing to WinMD Ranger, Inc.
Healthcare organizations often struggle with developing processes and best practices for both the creation and the execution of physician agreements. By knowing the risks, you can squash problems before they pop up as potential violations with serious consequences.
This slide deck covers best practices healthcare leaders can use to refine their organization’s financial and compliance processes, including:
-Educating staff
-Determining and documenting FMV
-Identifying and handling potentially risky contracts
-Examples of and solutions to risky situations
Save time with our EMR and Practice management web-based software. See why it's built to last and how it will boost your productivity. Find out more about us at http://www.waitingroomsolutions.com
Designing an EDC System to Work for a CRAVeeva Systems
Watch the video here: https://bit.ly/3h8gHIU
Targeted source data verification (SDV) might be well established, but many clinical teams are still verifying 100% of their data, making monitoring costly and inefficient.
By warching this on demand webinar, you will hear established RBM experts share the measures and metrics that organizations need to realize the true value of targeted SDV. Learn better ways to implement a risk-based strategy for SDV to ensure that CRAs focus on the most important data and how doing so can:
* Improve data quality
* Speed data collection and analysis
* Result in higher confidence and user satisfaction
Learn how Veeva is reinventing EDC to work for a CRA, creating significant speed and quality improvements.
Who Will Benefit:
Senior professionals working with clinical data/clinical documentation, including:
* Clinical Development/ R&D
* Clinical Data Management
* eClinical Operations
* Data Monitoring & Management
* Development Strategic Operations
* Information Strategy & Analytics, Clinical Informatics & Innovation
* Information Technology, R&D IT
* IT R&D Business Partner
Meet Your Presenters:
Drew Garty
Chief Technology Officer, Veeva Vault CDMS, Veeva
Drew Garty’s career in pharmaceutical technology spans over 20 years and includes significant expertise in EDC, clinical site monitoring, platform integrations and clinical trial management solutions. Drew’s innovative solutions in risk-based monitoring earned him a prestigious industry “Clinical Innovator of the Year” award in 2015. Drew joined Veeva in 2016 as Vice President of Product Management, and led the ground-up design of Veeva’s Vault EDC solution. In his current role of Chief Technology Officer at Vault CDMS, Drew shares and collaborates with customers, partners and the industry to set vision and direction of Veeva’s CDMS product.
Dawn Anderson
Managing Director, Life Sciences Strategy and Operations, Deloitte
Dawn has more than 30 years of industry and consulting experience in pharmaceutical, biotechnology, CROs, and technology companies. Her practice is focused on clinical development and she works with clients to design and deploy global operating strategy, performance improvement and technology implementations across the development of new drugs, biologics and devices. Dawn has spoken frequently about clinical transformation and the future of clinical trials, including topics around adaptive design, protocol complexity, risk assessments and the use of technology including virtual trials, digital, mHealth and the use of clinical analytics platforms and cognitive automation in transforming clinical trial delivery.
Establishment of decision support tools for environmental monitoring of priority and emerging contaminants using novel technologies and data management tools.
With Attune’s Business Intelligence Solution for Hospitals, by harmonizing your operations data from billing, cash, remittance, procurement to clinical performance, you can now monitor and forecast financial and operational performance more effectively. Mobile dashboards allow your executives to stay in touch with recent developments in the revenue cycle at all times.
Electronic Medical Records - Avoid these 5 mistakes in your practiceJane Adler
Electronic Medical Records Adoption and Meaningful Use - These 5 expensive mistakes can keep you from achieving meaningful use and a return on your EMR investment
With unprecedented change on the horizon, healthcare organizations are looking to redefine their workflows to focus on quality and efficiency.
Through utilizing SIMUL8 and Lean Six Sigma principles, ECG Management Consultants, Inc. has been able to help clinics and health systems to deliver on the new value proposition in the post-reform era.
Take a comprehensive look at how revenue cycle management affects home health and hospice agencies, as well as the performance metrics and best practices for improving agency effectiveness.
Revenue Cycle Management in healthcare encompasses the entire administrative process involved in getting paid for the services you provide to your patients. The process begins when a patient first calls to schedule an appointment and ends when all fees have been collected and verified.
Medical billing is becoming increasingly more complex. It is only going to get more difficult as new codes are added and more detailed patient information is required to be submitted with the claim. Add to that, physicians and other service providers are required by various insurers to provide details not previously necessary.
One small error can result in the claim not being paid promptly, completely or possibly even being denied.
Top 10 Medical Billing KPIs That Show Where Your Practice is Losing MoneyKareo
Kareo’s Billing Subject Matter Expert, Terri Joy, MBA, CPC, CGSC, COC, CPC-I, shares the 10 medical billing KPIs you need to know to prevent your practice from losing money.
The Impact of Duplicate Medical Records and Overlays in HealthcareM2SYS Technology
Duplicate medical records and overlays continue to be two pressing issues for the healthcare industry as we usher in the age of electronic medical records, health information exchanges and integrated delivery networks. Although these two issues can seriously jeopardize patient safety, increase the likelihood of unnecessary treatments and a misdiagnosis, raise the cost of care, and have a detrimental effect on the revenue cycle for medical facilities, they are different in size and scope and until only recently, have not been getting the attention they deserve from C-level Executives.
We decided to learn more about what duplicate medical records and overlays are, their implications, how they are particularly troublesome and dangerous for children’s hospitals, what the real duplicate rates are at medical facilities versus what they report, the impact of these issues on revenue and the billing cycle, how duplicates and overlays affect data integrity and the effectiveness of health information exchanges, the amount of time needed to clean a database following the discovery of a duplicate or overlay, and what technologies are available to help stop them from happening from Beth Just, President and CEO of Just Associates, a Colorado based company that provides healthcare organizations with customized solutions that improve health data quality and result in enhanced revenue cycle efficiency, increased patient and clinician satisfaction and improved patient care.
Revenue or yield management in hotels is a practice that has evolved significantly in its relatively short history. Adopted by hotels in the late 1980s, after the airline industry demonstrated great success using inventory, capacity and pricing to ‘manage’ revenue, revenue management has become one of the most integral and identifiable aspects of hotel operating strategy. Yet perhaps understandably, today’s brand of hotel revenue management differs significantly from that of two decades ago. Changes in the general approach to revenue management, pricing strategy, channel management, inventory allocation and the use of information as pertains to revenue management have redefined the field.
mHealth Israel_Managing the Barriers to Customer Adoption_Lisa Prasad, Henry ...Levi Shapiro
Managing the Barriers to Customer Adoption- Presentation by Lisa Prasad, Managing Director, International, Henry Ford Innovation Institute at the Henry Ford Health System. Background about Provider efforts toward innovation, including status of Digital Transformation, impediments and barriers to adoption, persuading doctors / health care professionals, workflow challenges, activation constraints, procurement cycles, costs, IT integration and security, role of incumbents and practitioners, validation plans, payer inefficiencies,
Using Technology to Lower Costs & Delight CustomersBJ Hoffpauir
This presentation outlines the challenges facing manufacturers, distributors, retailers and ultimately Consumers of Health Care Products - particularly those in need of Durable Medical Equipment (DME) Supplies and Products like Breast Pumps.
With the passage of the Affordable Care Act, every participant in the Health Care Product, Service, and Delivery value chain is facing increased competition in the marketplace while simultaneously being pressured from both Consumers, Government and Insurance Providers to reduce costs, profits and waste.
It's an incredibly difficult challenge for even the most Agile and nimble startups that are well funded from Venture Capital Investors or Private Equity Groups, but for the established participants in the the DME Marketplace, many of whom are over 100 years old, some of the oldest companies in America, adapting quickly to changing market environments is not a capability they have ever developed. Many of these markets are heavily regulated and the ACA was the first major change to some of those markets in 50+ years.
This presentation discusses how ACA Ventures, owner and operator of some of the most successful retail and wholesale distributors of Breast Pumps and Breast Feeding Accessories and Supplies in the USA went from it's first order to becoming a national innovator leading the market in customer service and technological innovation based on Open Source technology like Magento and a commitment to agile principles, customer service and delivering real value to every one of its partners and customers in the value chain of their market.
As you probably already suspect, choosing the right telemedicine software for your practice is just one step on the road to building a successful telemedicine program. From there, you’ll need to train staff, get your equipment set-up, figure out your workflows, let patients know, and more.
The good news is, the path to building a successful telemedicine program in your practice is often simple once you know the steps.
At eVisit, our team has a lot of experience guiding providers from selecting a telemedicine solution all the way to “launch day,” and making sure the practice is set-up for success. In this presentation, we’ll guide you through the top tips and strategies that you’ll need to build a successful telemedicine program.
You'll Learn:
Common telemedicine workflow mistakes and questions you’ll need to answer
Telemedicine best practices you should implement
Suggestions on equipment set-up and technical tips to know
Strategies for marketing telemedicine to your patients
This presentation was included in an eVisit webinar. Request a recording here: http://try.evisit.com/implementing-telemedicine-your-medical-practice/
U.S. healthcare providers have had different objectives when implementing the software and electronic token technology. LifeMed ID SecureReg™ software is designed to complement electronic tokens such magnetic stripe cards and Smart cards and utilizes industry standard HL7 protocol to build the communication link when needed.
The Impact of Duplicate Medical Records and Overlays on the Healthcare Industry RightPatient®
Duplicate medical records and overlays continue to be two pressing issues for the healthcare industry as we usher in the age of electronic medical records, health information exchanges, and integrated delivery networks. Although these two issues can seriously jeopardize patient safety, increase the likelihood of unnecessary treatments and a misdiagnosis, raise the cost of care, and have a detrimental effect on the revenue cycle for medical facilities, they are different in size and scope and until only recently, have not been getting the attention they deserve from C-level executives.
Three Keys to a Successful Margin: Charges, Costs, and LaborHealth Catalyst
How can cost management and complete charge capture protect and enhance the margin?
In this webinar, we will look at 2024 margin pressures likely to impact your organization’s financial resiliency. This presentation will also share how organizations can move from Fee-for-Service to Value; bringing Cost to the forefront.
Learn the Ins and Outs of the 2019 Medicare Physician Fee Schedule Final Rule SuperCoder LLC
Back in July of 2018, CMS dropped some bombshells in its Medicare Physician Fee Schedule (MPFS) CY 2019 proposed rule. Due to overwhelming stakeholder feedback — much of it negative — the agency has resolved to implement the E/M updates over the course of two years, with only a few subtle modifications for CY 2019.
Learn the ins and outs to the MPFS Final Rule and find out how it may affect your practice.
During the webinar you’ll:
Take charge and learn how CMS is helping reduce administrative burden on medical providers with their Patients Over Paperwork initiative
Learn the requirements for medical decision making for home visits
Gain helpful insight into documentation changes for E/M visits
Get the inside scoop on how reimbursement may change for the future
Nail down the changes to virtual care including virtual check-ins
Highlight helpful tools and resources to help you keep track of all of the changes
Learn the Ins and Outs of the 2019 Medicare Physician Fee Schedule Final Rule
Warm Market Presentation2
1. How to optimize cash flow
n your medical practice
(916) 634-719
2. Doctors are facing several Challenges
• Insurance companies are making it increasingly difficult to collect on claims
• Patients are slow to pay, IF they pay at all
• Private practices are having to close their doors and join large groups, becoming
employees due to reduced reimbursements and costs increasing
• Staying up-to-date with new codes and proper coding
• Lack of proper documentation- Audits imminent
• Staff overwhelmed with office chaos
• No patient retention marketing in place
• Practices are being penalized for not converting to EHR
• Practices are being fined for HIPAA breaches
4. Current Insurance
Claim Challenges
Slow Payment
Turn-around up to 120 days
High Rejection Rate
National Rejection Rate is 34%
High Cost
National Average of $22 per
claim
5. Solution
Reduced Rejection Rate
As low as 2%
Lower Billing Costs
Save up to 50% of in-house
costs
Faster Payment of Claims
Average of 14 days
6. Challenge
“Some doctors spend more
time filling out forms than
taking care of patients.”
Dr. C. Everett Koop
Former Surgeon General
7. • FASTER Charting
• Chart encounters using touch,
talk (dictation), or typing
• Designed for speed and
flexibility
Comprehensive cloud-based Electronic Health Records System
Solution
8. “Physicians typically
collect only about 50%
of outstanding patient
balances, resulting in
almost $60 Billion in bad
debt annually.”
- McKinsey & Company
Challenge: Patients don’t pay!
9. • Patients can make payments online 24/7
• Get Paid Faster
• Reduce Costs
• Increase Patient Satisfaction
• Schedule Patient Payments
• Automate recurring payment plans
Solution
10. Collects Patient Receivables
Not a Collection Agency
Low Cost
4x the Average Recovery Rate
Fully Automated
Increases Patient Retention
Solution
11. Current Challenges
• Most doctors can’t keep
up with new codes
• Oct 1, 2015 new set of
diagnosis codes
13. Current Challenges
• ALL Documentation MUST
match coding
• Ongoing audits from both
government and commercial
payers
• Physicians subject to being
audited anytime
14. Solution
• Offers corrective actions required for
compliance
• Implements changes to stay in
compliance
• Continuing education
• Advises Provider on underpayments
15. Challenges
•Time wasted searching for files and
refilling paperwork
• Time and money lost in re-creating
lost documents
• Costs of storing documents in-house
or off-site
• No disaster recovery systems in place
16. Solution
• Save Time
•No more time spent filing or
retrieving paper files
•Access stored files from any
computer with Internet access
• Save Money
•Eliminates the need for file
cabinets and off-site storage
17. Challenges
• Limited time to market
practice
• Obtaining new patients
• Showing patient
appreciation
18. Solution
• Patient retention program
• Patients are really customers
• Shows patient appreciation
• Potential to increase patient
visits
• Increases referrals
19. Challenges
• 79% of Covered Entities fail
their CMS Meaningful Use
audit
• 2015, 5% of providers will
face mandatory audits by
CMS
• 70% of Covered Entities are
NOT compliant.
• HIPAA Fines/Penalties are
increasing
Up to $50,000/incident
Up to $1.5 million
20. Benefits:
Designed by Privacy/Security Professionals
Easy to use
One simple price - No extra costs
Automatic updates of Federal Regulations
Compliance Coaches assist you every step of the way
Cloud Based – No software or IT integration required
21. Not only can we cure these challenges,
but increase profitability too!
22. We specialize in optimizing your cash flow,
so you can specialize in patient care.
Request your FreeRequest your Free
Practice Analysis today!Practice Analysis today!
(916) 634-7819(916) 634-7819
Vnmedicalrevenuesolutions.comVnmedicalrevenuesolutions.com
