Most Bang: Impactful Metrics For RCM
Analyzing your revenue cycle from start to finish can lead to recouping significant revenue dollars for your organization. Knowing what are the most impactful metrics sets revenue cycle experts apart.
Understanding Value Based Reimbursement
The healthcare industry has undergone major changes since the rollout of the Affordable Care Act and now a new type of reimbursement model is putting traditional incentive based payment models on the shelf for good. Value based reimbursement, which ensures that providers are rewarded for performance, quality, and cost reduction (instead of number of services provided), is a model that will help shape the future of healthcare.
5 Ways Revenue Cycle Management (RCM) Reduces Errors & Increases Revenue
With new advances in the way medical information is transcribed, stored and transferred, technology has created more variables to a provider’s success than ever before. Between tangling with mountains worth of paperwork, handling claims denials and riding the learning curve of new systems like EHRs and ICD-10 coding, there can be lots of room for error and, consequently, potential revenue that slips through the cracks. Luckily, revenue cycle management systems are here to help. They can streamline a vast array of your most intensive processes — like admitting, coding, balancing budgets, billing and filing claims — in order to provide a supreme level of oversight and control. This control in turn helps you avoid common RCM problems that lead to lost revenue, profitability and productivity.
The 5 Biggest Challenges Healthcare Leaders are Facing in 2015
2015 has been a big year of change for many healthcare systems. With this change, healthcare leaders have been faced with many challenges, including complying with new federal regulations and making strategic moves towards better care. We've compiled a list of the five biggest challenges we've found healthcare leaders facing this year.
3 Big Healthcare Trends To Watch in 2015
If you read our post "Healthcare Top 5 Trends," you know know that healthcare trends from specialty pharmacy to accreditation have been gaining traction this year. We have been keeping an eye on three additional healthcare trends that we expect to hugely impact the healthcare industry through the end of the year and continuing on to 2016. From ICD-10 to telehealth, let's explore these important trends and what they mean for healthcare!
Pharmacy May Be The Answer To Reducing Healthcare Costs
Back in March, we talked about how the role of the pharmacist in the healthcare ecosystem has been expanding over the past decade. In addition to simple medication fulfillment, pharmacist now complete crucial patient aftercare, education, and vaccination administration. Many believe as the role of the pharmacist expands, they could become the key to reducing all kinds of healthcare costs. Here are three ways pharmacy is helping save costs for healthcare.
Strategies for Payer Negotiation
When it comes to procuring and maintaining your contracts with payers, there is perhaps no skillset greater to possess than that of the art of negotiation. In today’s healthcare market, there’s not only a need to be informed and competitive, but healthcare organizations need to have a very clear understanding of where they stand amid the competition.
What Challenges Are Healthcare Leaders Facing This Year?
Here at BHM we are predicting that 2015 will be a year of change for many healthcare systems. With this change, healthcare leaders will be faced with many challenges, including complying with new federal regulations and making strategic moves towards better care. We've compiled a list of the five biggest challenges we foresee healthcare leaders facing this year.
Financial Challenges: The Biggest Concern for Hospital CEOs
A recent study showed that for the 10th year in a row, financial challenges are #1 on hospital CEO's list of concerns. More than healthcare reform, government mandates, and patient safety, the constant battle to be financially stable is the what keeps the healthcare C-suite up at night. So what factors are contributing the the financial worries? Let's take a look.