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Revenue Cycle Matters - Insights & Tips to Improve Healthcare Collections

Rural Hospitals Struggle to Stay Afloat

November 25, 2019

Rural hospitals, as defined by their geographic location, have an essential role in our nation’s healthcare system, as well as in the communities they serve. Unfortunately, trends in healthcare reimbursement and factors outside their control have put many of them into difficult financial situations.

In recent years, many of the 60 million Americans living in rural communities have watched helplessly as their only local source of healthcare disappears.

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Keep it or let it go?

October 03, 2019

It’s an often-debated topic within health care organizations: whether or not to outsource components of their revenue cycle. As much as you might like to manage all aspects of the revenue cycle in-house, you may be seeing signs that are nudging you toward outsourcing.

Key drivers behind an organization’s decision to outsource include increasingly complex payer rules and coding procedures as well as the continued decline in reimbursement from payers.

Industry experts advise that if you find yourself asking some of the following questions, it might be time for you to consider outsourcing:

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Are you Settling for Mediocre GDRO?

August 21, 2019

As a revenue cycle consultant for Zimmerman & Associates in the early 90s, I served as an analyst for the HARA report. For those of you who started your career after it was in circulation or don’t recognize the name, HARA stood for Hospital Accounts Receivable Analysis. At the time, it was the industry-leading publication that discussed healthcare billing best practices and trended major KPIs. Which brings me to my reason for this article - the GDRO benchmark (Gross Days Receivable Outstanding) for a superior performing hospital at the time was anyone reporting 60 days or less.

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Do You Speak Revenue Cycle Management?

August 08, 2019

Revenue Cycle Management is a vast operation for every healthcare organization starting prior to patient intake and continuing on through to financial reporting. Each stage of the healthcare revenue cycle has its own terminology that, for mere mortals (all of us), can increase the complexity of our day-to-day and make the job harder!

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Elevate Revenue Cycle Performance by Leveraging Analytics & Business Partner Expertise

July 25, 2019

In our previous Revenue Cycle Matters posts, we discussed the importance of clearinghouse and claim scrubber partners as part of an effective revenue cycle management strategy. We also highlighted the benefits of focusing on first pass yield and clearinghouse features that support positive collection outcomes. 

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How do You Measure Revenue Cycle Management Success?

July 10, 2019

 

Debunking the Clean Claim Rate Fallacy

Benchmarking the effectiveness of a clearinghouse can be done in many ways and most clearinghouses use clean claim rate, as the success criterion making them the best choice for your revenue cycle.

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2019 May Revenue Cycle Events

May 01, 2019

After the excitement of the new year wears off, we quickly fall into a routine and when we are busy with day-to-day responsibilities, it is easy to push self-development to the bottom of our list of priorities. 

One way to break out of the monotony and get inspired is to set your out of the office reply and attend a revenue cycle conference or seminar. Many events offer agendas with a good mix of presentations centered on industry-leading best practices, team & leadership development and speakers sharing perspectives on the future of healthcare. 

Spring is always the busy season for conferences and here's a list of upcoming revenue cycle events the efficientC team is heading to in the coming weeks.

Check out our speaking engagements and exhibiting events below. 

Will you be attending these too? Let us know! 

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12 Things Keeping Hospital CFOs Awake at Night

April 02, 2018

Is the pressure to simultaneously control costs and improve care quality making you toss and turn every night? Uncertainty about healthcare reform, declining reimbursements, and increasing costs of operating expenses are just a few of the concerns that rural community hospital CFO’s are tackling this year.

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Is Your Business Office Leaving Money on the Table?

January 31, 2018

Staying on top of the healthcare needs in your rural community depends on the resilience of your critical access hospital (CAH) and its ability to stay fiscally strong.

Often the only local healthcare source, rural hospitals are pillars in their community, not only serving healthcare needs of residents, but contributing substantially to the economy by being a sizable employer.

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