4 Questions to Ask About Bundled Payments

When we look at healthcare payment reform, and our move away from fee-for-service models of payment, the focal alternative this year has been bundled payments. In this scenario, physicians are paid a set amount for treating a certain type of patient, and assumptions are made by the payer about what services or treatments a patient like that would need. They compensate according to that average. Under the fee-for-service model, when they were paid for whatever tests they ordered or treatments they rendered, they certainly had more freedom of choice.

Top 5 Ways to Boost Your Revenue Cycle

When it comes to hospital and health system revenue cycles, there are many strategies you can approach to help put things on a positive trajectory. Whether they are changes small or large, they all impact the organization’s financial standing. But today, we’ve pulled together only the very best tips for increasing profitability.

Best Denial Management Strategy: Avoid Denied Claims

It might seem painfully obvious, but when it comes to denial management, the best way to avoid denied claims is to make sure that your claims are correct and, therefore, won’t be denied. Thinking that’s easier said than done? Well, if you have the right information — and the right tools — it doesn’t have to be.

Choosing the Right Healthcare Accreditation

If your healthcare organization is considering getting accredited, you might have questions on which type is right for your organization.

You also might be curious about some of the details behind the accreditation process, such as:

How long does the process take?
How much does it cost?
How long will the accreditation last?
How many organizations are already accredited?
Which one is the aligns with my organization’s services?

How the Healthcare C-Suite Can Impact Change

At the top of every healthcare organization is the C-suite: The CEO, CFO, CIO…you get the idea. And thanks to their elevated positions, they have the power to make real, impactful change on the healthcare environment. Through their leadership, skill sets, and unique vision, the healthcare c-suite is helping move healthcare in new directions.

Healthcare Payment Reform

The Centers for Medicare and Medicaid issued a report covering the trajectory of healthcare expenditures in the United States and found that in 2013, spending only went up by 3.6 percent. With a heavily conservative Congress, it seems likely that the dismantling of the Affordable Care Act may be on top of the Congressional to do list. While the spending increase has been consistent over the last several years, it has also been relatively slow; the data doesn’t suggest an enormous, irreversible spike initiated by the ACA. However, the slow-creep of rising expenditures is still troubling.

Cutting Costs with Telepsychiatry

Remote healthcare is still relatively new and has been slow to be adopted on a large scale, but many who have taken advantage of telemedicine services are finding that the financial aspect is well worth the transition. While telepsychiatry can’t completely replace an in-person visit with a Psychiatrist, it can be a valuable option for areas where access to those types of professionals are limited at best.

5 Factors that Decrease Hospital Readmissions

No hospital will ever achieve a zero readmission rate–nor would they want to, as it may be an indicator of poor quality of care. However, there are many factors that lead to higher readmission rates–some of which can be avoided or at least more properly managed. In today’s post, we’ll discuss some of those factors as well as how they can be addressed.

Top 5 Secrets for Successful ACOs

If you’re reading this, you probably already know that Accountable Care Organizations (ACOs) are groups of physicians, hospitals and providers who work together to provide a continuum of care to Medicare patients. But what you might not know is what qualities and habits make a successful ACO. As 2015 begins, now is the time for those considering a transition into ACO work to examine the ins and outs of this system and see if it might fit within your organizational or goal structure.

6 Healthcare Financial KPIs You Need for 2015

Whether or not it’s our collective focus, we would be remiss to ignore the fact that when it comes to the financial bottom line, healthcare is a business. In other industries there are financial benchmarks, or key performance indicators, that help businesses stay on the right track. All businesses should make use of some type of financial performance measures, from the companies dominating their industry and pulling in billions of dollars to the kid on your street selling lemonade. Understanding your organization’s profitability, debt and economic patterns of performance is key to ensuring that you can sustain that performance – and see revenue increase- for years to come.