New Denial Management Solutions are making a major, positive impact on insurance reimbursement revenue for hospitals and healthcare practices.
New Denial Management Solutions are making a major, positive impact on insurance reimbursement revenue for hospitals and healthcare practices.
The healthcare landscape is constantly changing in both technology and practices—and it can be hard to keep up with the whirlwind of new information.
Whether it’s the new IDC-10 regulations, new health systems, or new pains from attempting to juggle these challenges all at once, 2015 looks to be a challenging year for healthcare CFOs, and many are expressing their dread over the year to come. It’s critical that you’re able to conquer these new challenges, and can focus on successfully maneuvering these new roles and responsibilities.
Financial woes were a common resonating theme throughout the healthcare industry in 2014 and all signs are pointing to a 2015 that follows the same trend. Healthcare organizations are being forced to reestablish budgets and rearrange strategies largely in part to the following:
Topics: Revenue Cycle Management, Healthcare BPO Companies, Revenue Cycle Services
The thought of reimbursement reductions coupled with the threat of ICD-10 preparedness (or lack thereof) in 2015 has created a healthcare environment that leaves much to be desired. At this point in Q4 you’ve been trying, maybe even agonizing, all year to reduce expenses, increase patient retention and maximize your patient and payer collections- all without compromising quality of care. Ring a bell?
Topics: ICD-10, ICD-10 compliance
We’ve heard rumors of CFOs losing sleep over ICD-10.
If the rumors are true, you may be reading this with a strong cup of coffee in your hand, even though it’s 3pm in the afternoon. Don’t let the fear of reimbursement reductions (or even a full temporary halt) of your revenue stream keep you up at night. It’s time to start finding any optimism you can muster about ICD-10, starting with the fact that the implementation date has finally been finalized (for the second time). So pour out that lukewarm cup of coffee you’ve been nursing and start addressing how you can provide your staff with the resources needed to cope with the post-ICD10 landscape.
Topics: ICD-10, Healthcare BPO Companies, BPO Companies
Just in case you somehow missed the trend, the healthcare business process outsourcing (BPO) industry is growing at a rapid rate. Black Book Market Research’s annual Satisfaction Survey of all RCM stakeholders uncovered that nearly half (45%) of struggling hospitals in the U.S. have immediate plans to implement a full RCM outsourcing strategy. By 2016, the outsourcing market will reach $9.9 Billion, over a $2 Billion jump from the 2014 numbers.
Topics: BPO, Patient Pay, Outsourcing, Business Process Outsourcing, ICD-10, Healthcare BPO Companies
As a large healthcare organization, your primary responsibility is premier patient care… we get that. And with Medicare reimbursements now tied to patient satisfaction scores (courtesy of none other than the Affordable Care Act), the emphasis on quality of care and patient happiness is more important than ever before.
Topics: BPO, Outsourcing, Business Process Outsourcing, Revenue Cycle Management, Healthcare BPO Companies
As the CFO of a hospital or healthcare organization it’s easy to become overwhelmed by the changing industry landscape and fast-moving regulatory shifts that affect the financial outlook of your company. And for good reason. Your livelihood and the livelihood of those within the organization depend on your expertise and ability to ensure the company is financially sound. Ever wonder whether others in your position feel a similar burden of responsibility or if possibly you’re the only one losing sleep over healthcare financial management? Rest assured that you are not alone experiencing this daily stress. Your perception of the situation might be bleak- but it doesn’t have to.
Topics: BPO, Business Process Outsourcing, Healthcare BPO Companies
Healthcare providers are constantly looking for processes to help run their back office solutions so they can concentrate more heavily on their primary responsibility: caring for their patients! No brainer.
Topics: BPO, Business Process Outsourcing
A high deductible plan means the patient is paying more out of pocket expense for health care services. It is a health insurance plan with a high deductible and normally has a lower premium. People pick high deductible plans because the out of pocket premiums are lower and fit into a tight budget more easily. Employers like high deductible plans as a way to save money on health care coverage for employees. However, high deductible plans can have an impact on health care facilities or on a hospital’s revenue cycle. The impact is not always in a favorable manner.
Topics: Patient Deductibles, healthcare receivable management, Revenue Cycle Management, Healthcare Reform, HSA
