The Medical Group Management Association (MGMA) has estimated the average cost to rework a claim at $25, and it’s safe to say that cost is rising every year. Our statistics show that 90% of denials are preventable.Read More
Depending on the response, your rural hospital may be suffering from an ineffective revenue cycle management strategy. If that's not the case, there is a severe breakdown in your revenue cycle. Typically, rural hospitals or any hospital for that matter should have GDRO in the 30s or better.Read More
It's becoming increasingly difficult for healthcare CFOs to focus on the revenue cycle. Healthcare CFOs face rapidly changing payer systems, more complex regulations, and an outdated digital infrastructure. In addition, health care providers will transition to value-based payment reimbursement models in 2017.Read More
The A/R clock starts ticking once a medical claim is submitted to the payer. Is your health care organization prepared to beat the clock?
The current industry standard is < 30 days but some health care providers and medical practices are missing the mark. Errors in claims, multiple denial appeals, and/or missing timely filling dates are all contributing to an increased A/R.Read More
Beckers Hospital Review recently published an article about the 4 ways healthcare organizations can reduce claim denials. The article covers the most common reasons for denials and how organizations can work to reduce denials – change the paradigm in denial management, use predictive analytics, invest in relationships with payers and focus on quality of patient data.Read More
Cyber security remains a hot topic in the world of health data. When it comes to patient privacy, there’s no such thing as “too careful.” Although disclosure of PHI is necessary for billing functions, often more information is used than is actually needed to complete the task, especially e-PHI used in emails between staff and associated vendors.Read More
The healthcare landscape is rapidly changing, and sitting with a front seat view is the hospital business office. The uncertainty of ICD-10, healthcare reform and changing reimbursement rates, payer rules, compliance regulations…it's a lot to take in. A business office needs to be adaptable and ready to make adjustments. With the advantage of evolving technology around claim submission and editing, that includes adjusting the roles of its personnel, namely the medical biller.Read More