Healthcare Finance News | Revenue Cycle Management

The Healthcare Financial Management Association (HFMA) announced Friday this year's winners of the MAP Award for High Performance in Revenue Cycle. Seventeen organizations received the honor.

Conifer Health inks 10-year revenue cycle pact with CHI

May 17, 2012 |

Chris Anderson

Conifer Health Solutions, a subsidiary of Tenet Healthcare Corp., announced yesterday a 10-year revenue cycle management deal for 56 Catholic Health Initiatives (CHI) hospitals that will also see CHI acquire a minority stake in Conifer.

Compensation incentive programs for healthcare professionals are ineffective

May 14, 2012 |

Stephanie Bouchard

As the healthcare industry continues to move in the direction of using compensation incentives, a new analysis reveals that incentives as currently used are not an effective motivator for healthcare professionals and waste an estimated $20 billion in resources.

‘Reimbursement cliff’ is driving M&A activity

May 8, 2012 |

With the federal government making big changes to the way healthcare providers are reimbursed for services through programs such as Medicare and Medicaid, many organizations are considering all their strategic options for how to best prepare to take the hit to the bottom line.

How hospitals can maximize revenue from physician networks

May 7, 2012 |

Kevin Weinstein

With the pressure to increase net income intensifying, hospitals are finding new urgency in the old saying, “every dollar counts.” No longer can health systems focus their efforts solely on optimizing their largest sources of revenue and cost. Attention has now shifted to much smaller dollar amounts. One area to consider for opportunities for revenue enhancement and cost reduction is during physician practice acquisitions.

Many hospitals anticipate dropped revenue due to ACA

May 1, 2012 |

Kelsey Brimmer

With the future of the health reform law in the hands of the U.S. Supreme Court, a majority of hospitals and health systems are anticipating a drop in revenue as a result of the Affordable Care Act (ACA).

Telemedicine lets doctors 'monetize their time'

April 25, 2012 |

Eric Wicklund

Physicians use new technologies in the ever-growing telemedicine field to expand their practices and grow their revenue.

Hospitals expand to attract well-insured patients

April 10, 2012 |

Targeted geographic expansion into new markets with well-insured people is the new frontier for hospitals seeking a competitive edge in the marketplace, according to a study by the Center for Studying Health System Change (HSC) published in the April edition of Health Affairs.

Revenue integrity tops list of concerns for hospital executives

April 9, 2012 |

Results of a national healthcare industry survey revealed that 60 percent of hospital executives believe revenue integrity is essential to their organization’s financial health.

New app makes immediate billing possible

March 30, 2012 |

Eric Wicklund

Iconic Data has announced the release of SwiftPayMD, a revenue cycle management app for the iPhone and iPad that's designed to enable doctors to immediately bill for their services.

3 ways to prevent costly claims denials

March 26, 2012 |

On average, roughly 10 percent of all healthcare claims are initially denied and require additional work on the part of the provider to secure payment. One industry expert offers a three-part plan for reducing the impact of denials on the revenue cycle.

HIPAA 5010 enforcement pushed to June

March 16, 2012 |

Bernie Monegain

For the second time, the government has delayed enforcement of HIPAA 5010, CMS said Thursday. The new enforcement date is June 30, 2012.

An Approach to the ICD-10 Transition

June 2, 2011 |

Southwest General Healthcare Center (SGHC) enterprise is a private, not for profit organization, and presents how they are actively approaching the transition to ICD-10. Topics include Executive Leadership, Planning and Implementation Analysis, Timeline, Prioritization, Functional Area Assessments and ICD-9 to ICD-10 Data Translation and Analysis. You'll also see a tool for translation and analysis demonstrated by RSM McGladrey.

Maximizing Healthcare Payment Automation

June 2, 2011 |

More than half of the transactions within the US healthcare industry are still paper-based. In addition, there is a processing lag if the payment is paper and the remittance is electronic. Several major challenges plague the healthcare industry’s quest to automate the payments process, and many healthcare providers, billing companies, and banks serving healthcare providers undertake a costly, time-consuming journey to achieve full healthcare payment automation. This session explores the barriers to full healthcare payment process automation and a cost-effective, simple solution for overcoming the barriers.

Case Study: Sentara Healthcare Completes an Award-Winning EHR with Enterprise Content Management

April 29, 2011 |

Providers today recognize that even the most powerful EMRs can't handle the content that exists outside of the patient record. Unstructured, ancillary documents and content related to patient care – paper, forms, faxes, graphics, photos and other clinical images – is often disconnected from electronic records. For Sentara Healthcare, access to accurate, timely and complete patient information is instrumental to increasing quality and service of care, and enterprise content management (ECM) is a vital part of that enterprise EHR strategy.

Optum (TM) manages Bethesda Healthcare System's revenue cycle for increased margin performance and sustainability

May 1, 2012 |

Learn how and why Florida’s Bethesda Healthcare System chose Optum™ to help it improve overall margin performance and to use its resources for the maximum possible impact. In this case study, Bethesda C-suite and senior leaders, along with on-site Optum experts, examine the early results of Optum's combination approach using Lean Six Sigma-based methodology, technology, and full-time, on-site staff.

Improving Point of Service Collections: A Rural Hospital Perspective

March 2, 2012 |

In this webinar, hear how Saint Alphonsus Medical Center, a critical access hospital located in eastern Oregon, increased upfront cash collections and improved patient satisfaction by incorporating patient payment estimation technology into their workflow. Michelle Paoletti, Patient Access Manager, will describe how her organization transitioned to a culture of point-of-service collections by having meaningful payment discussions with patients upfront. Additionally, Michelle will reveal what's next for Saint Alphonsus, including their plans to streamline the financial assistance process.

Disrupting Hospital Based Care: The Innovation Race to Establish 21st Century Care Models

March 2, 2012 |

Intel and Healthcare IT News invite you to an exclusive executive webcast featuring internationally renowned speakers, Jason Hwang, MD co-founder and Executive Director of Healthcare at Innosight Institute, a non-profit social innovation think tank based in Watertown, Massachusetts and Eric Dishman, Intel Fellow and Global Director of Health Innovation and Policy for Intel Corporation.

How new technology is helping healthcare providers meet the pressing challenges of reducing bad debt by improving patient billing and collection

February 14, 2012 |

This paper examines the significant impact of recent changes in the healthcare market on the ability of healthcare organizations to collect payment from patients. The escalating amount of deductibles to be paid by patients off-site is creating a void as to where and when they pay, which in turn is creating less impetus to pay. These changes are set to drive the uptake of new technological advancements in Electronic Bill Presentment and Payment (EBPP) in the Healthcare industry.

Creating the Foundation for Financial Health in 21st Century Healthcare Provision

February 1, 2012 |

SPi Healthcare and Frost and Sullivan will address how the financial health of today's healthcare providers is being severely challenged in an era where fundamental factors are clashing.

Key Metrics in Revenue Cycle Management: Measurements that Ensure Peak Financial Performance

February 1, 2012 |

While cash flow is the most common metric practices use to determine financial health – it isn’t the only one that should be monitored. There are other key metrics that are just as important for guaranteeing revenue cycle success. Being proactive about measuring and monitoring these important additional key metrics can help you catch costly errors so your practice can enjoy fewer denials, faster payments and greater profitability. Download this free resource guide to learn more!

Advanced Coding Technology to Advance the Revenue Cycle

February 1, 2012 |

Not all computer-assisted coding solutions (CAC) are created equal. Understand the key elements of natural language processing (NLP) and how the precision of Optum's LifeCode® NLP technology can boost coder accuracy and productivity, improve revenue integrity, and mitigate the financial impacts of the ICD-10 conversion.

Technology Standardization Toolkit: How to Gain Alignment and Maximize ROI

January 19, 2012 |

Paul Fox and Sou Chon Young

Learn how to obtain the evidence required for standardization across your delivery infrastructure and how to weigh your hospital's functional, technical, support, and financial requirements to ensure you choose the vendor(s) that allow you to receive the maximum return on your investments. In this webinar we will discuss the tools needed to gain visibility into the universe of options to put in place the protocols needed to improve clinical quality while reducing costs in ways that can be implemented on a broad scale.

Overcoming Financial Challenges: Tips and Advice on How to Improve Healthcare Financial Performance

January 3, 2012 |

Healthcare IT News Staff

Join Healthcare Finance News and a panel of healthcare financial executives from Vanderbilt University and USF Health as they share their viewpoints and advice on ways to take advantage of opportunities to improve financial performance.

5 ways to collect money up front

April 11, 2012 |

Kathryn Williamson

We all know that copayments should be collected at time of service. In fact, a pattern of waived co-payments can be considered fraud.

3 Ways to Improve your Denial Management Process

September 20, 2011 |

The way your healthcare organization handles denials has a major impact on its bottom line. Most organizations have worklists or queues to work denials.

How hospitals can reduce costs: Answers from social media followers

August 29, 2011 |

Kelly Mehler

We asked our Healthcare Finance News social media followers to respond to a Dan Woods blog post about the hidden costs of providing healthcare. From LinkedIn to Twitter, followers seemed to agree with Woods' statements, also offering their own two cents.

Gwinnett Medical Means Business When it Comes to Patient Eligibility

August 19, 2011 |

Jennifer Dennard

After speaking with Ulrich Brechbühl, President and CEO of Chamberlin Edmonds, earlier this summer about how his firm helps connect underserved patients with the most appropriate government healthcare programs, I was eager to hear the hospital’s side of the story. Just how big of a benefit were these services bringing to patients’ lives?

Preparing for CMS' Value-Based Purchasing

August 17, 2011 |

James C. Bohnsack

In October 2012, the Centers for Medicare and Medicaid Services (CMS) will launch value-based purchasing, which will impact discharge payment structures for all short-term acute care hospitals.

Strategies to Remove Hidden Costs in Your Organization

July 27, 2011 |

Dan Woods

In an era when healthcare organizations are laser-focused on cost, obvious excesses in spending are long gone. That doesn't mean the pressure to increase efficiency and reduce expenses has ended—it simply means that organizations have to look more closely at what they do, how they do it, and how much value they receive.

MedPAC releases 2011 Data Book

July 22, 2011 |

Richard Pizzi

The Medicare Payment Advisory Commission (MedPAC) has released its June 2011 Data Book: Health Care Spending and the Medicare Program.

Revenue Cycle Optimization

June 30, 2011 |

Sou Chon Young

Is your facility accounting for all the cash it receives? In many instances, your Remit (Payment Posting) department could be receiving lockbox deposits or live checks that they are unable to post into the patient accounting system.

Engage More, Collect More

June 27, 2011 |

Jeff Kao

We’ve heard it time and time again…patients are shouldering a significant portion of their healthcare costs and hospitals are struggling to address this shift in reimbursement. The source of poor cash flow may not be due to an inability to pay, however, but rather an inability to pay the way we choose to.

MedPAC recommends changes to Medicare Ancillary Services policies

June 23, 2011 |

Debra A. McCurdy

The Medicare Payment Advisory Commission (MedPAC) has released its June 2011 "Report to the Congress: Medicare and the Health Care Delivery System." The report includes a number of recommendations that have generated much controversy to address the growing use of ancillary services, particularly non-hospital diagnostic imaging services.

Identifying tipping point helps hospitals be more inclusive with charity care

April 28, 2011 |

James C. Bohnsack

Thousands of patients each year who are eligible for financial assistance programs are not being identified at the front-end of the billing process. For those healthcare organizations interested in identifying these patients, determining a “tipping point” could be particularly helpful.

Leveling the Playing Field with Payers

April 7, 2011 |

Thomas J. Force, Esq.

Most physicians and healthcare administrators believe that healthcare, and particularly the "revenue cycle," are controlled entirely by managed-care companies.

Advanced Berkshire Medical Imaging enters exclusive billing partnership with Medical Management Professionals, Inc.

January 9, 2012 |

MMP, a national firm providing billing and practice management services to radiologists and imaging centers, has been awarded an exclusive billing contract with Advanced Berkshire Medical Imaging in Pittsfield, Ma.

Emerus Emergency Hospital goes live with Stockell Healthcare's information management system

January 3, 2012 |

Stockell Healthcare Systems is pleased to announce that its InsightCS® Revenue Cycle Information Management system is up and running for Emerus Emergency Hospital at five locations in Texas (Houston, McKinney, Sugarland, Aubrey, and Tomball) plus the newly opened Baptist Emergency Hospital in San Antonio that is part of an agreement with Baptist Health System.

Atlantic Health Solutions improves radiology practices revenue cycle management

December 14, 2011 |

Healthcare Finance News Staff

Atlantic Health Solutions reaches out to radiology practices with low collections and decreased revenue in order to help improve their billing and collections procedures to increase revenue cycle management.

University Behavioral HealthCare goes live with revenue cycle information management system

December 7, 2011 |

Stockell Healthcare Systems is pleased to announce that its InsightCS® Revenue Cycle Information Management system is up and running at University Behavioral HealthCare (UBHC) with more than 800 users at 13 locations across the state of New Jersey.

Brentwood Capital Advisors LLC serves as exclusive financial advisor to eSolutions, Inc.

November 8, 2011 |

Brentwood Capital Advisors LLC is pleased to announce that it served as the exclusive financial advisor to eSolutions, Inc. (“eSolutions”, or the “Company”) in a minority recapitalization transaction that closed October 31, 2011. Headquartered in Olathe, Kansas, eSolutions is a provider of revenue cycle management software-as-a-service (“SaaS”). The Company’s products assist healthcare providers in automating and enhancing workflow with regard to claims review, editing, and denials/appeals management, as well as eligibility verification and payor connectivity. The Company has over 1100 clients comprised of hospitals, home health and hospice providers, skilled nursing facilities and durable medical equipment providers.

Jopari to testify before NCVHS committee on HIPAA rules for property & casualty payers

November 8, 2011 |

Jopari Solutions, Inc., the leader in electronic medical transactions and connectivity for the Property and Casualty industry, announced the company has been invited to testify before the National Committee for Vital and Health Statistics (NCVHS), as part of a select industry and standards organization panel. NCVHS is the committee charged with providing input to Health and Human Services (HHS) on making HIPAA standards applicable to Property and Casualty industry payers, specifically workers' compensation and auto medical insurance.

GHN-online introduces the first enterprise-class 5010/ICD-10 claims clearinghouse solution to serve ACOs

November 4, 2011 |

GHN-Online, an industry-leading, revenue cycle management clearinghouse solution provider, announces the release of VisumEnterprise™ 7.0, the first revenue cycle management solution that arms healthcare executives and managers with vital, homogenized data management tools through a real-time web portal. The VisumEnterprise™ 7.0 solution is 5010/ICD-10 compliant and is packed with intelligent data-handling features that will meet any industry compliancy, as well as fill knowledge or processing gaps inside healthcare entities of any size. The VisumEnterprise™ 7.0 solution is a transactional system that highlights patterns of revenue, collections, denials, pricing, and other operational metrics throughout the healthcare enterprise.

Intermountain Healthcare and Accretive Health enter into a strategic operational relationship

November 3, 2011 |

Intermountain Healthcare and Accretive Health (NYSE: AH) today announced a five-year strategic relationship for end-to-end revenue cycle operations. This agreement will enable Intermountain to build on its track record of revenue cycle excellence by leveraging Accretive’s distinctive operating model, including its rigorous processes and proprietary technology, to generate additional improvements in revenue yield and enhance patient satisfaction across Intermountain’s network of 23 hospitals.

Springfield Service Corporation and Laguna Medical Systems rebrand as SPi Healthcare

October 27, 2011 |

Springfield Service Corporation, specializing in revenue cycle management, and Laguna Medical Systems, specializing in health information management, are rebranding together as SPi Healthcare.

Providence Health & Services selects passport to provide payer eligibility services

October 19, 2011 |

Passport Health Communications Inc., a leader in healthcare revenue cycle management through Software-as-a-Service products, announced that Providence Health & Services, a 27 hospital not-for-profit system that serves communities spanning five states, has selected payer eligibility connectivity services from Passport’s eCare™ NEXT Patient Access solution. The solution enables hospitals and clinics to access integrated payer eligibility information at point of service from within their Epic Enterprise Registration workflow and also through preservice daily batch formats. Users also are able to use an automated financial screen tool that produces a fair and accurate up-front determination of a patient’s Medicaid and charity eligibility.

New XIFIN white paper highlights macroeconomic pressures and changes impacting diagnostic healthcare

October 17, 2011 |

XIFIN, Inc., the company revolutionizing revenue cycle management for diagnostic service providers, has released a newly published white paper, “A CEO’s Guide to Next Generation Revenue Cycle Management: What Service Providers Need to Know to Survive the Changing Diagnostic Healthcare Environment,” co-authored by Lâle White, Executive Chairman and CEO, XIFIN, Inc., and David Lorber, Ph.D., Director of Business Development, XIFIN, Inc.

Dallas Pathology Group partners with McKesson to optimize revenue management

October 17, 2011 |