Financial Archives - Page 13 of 23 - BHM Healthcare Solutions - Experts in Healthcare Financial Management

Increasing Patient Satisfaction Through Revenue Cycle Improvement

2017-04-02T13:28:33-04:00By BHM Marketing|Financial, Quality Improvement Programs|

One element of revenue cycle improvement that will be coming to the forefront with the implementation of patient-centered care is patient loyalty. As a hospital, your staff and facility might provide a patient with top-notch care. Overall, they may emerge healed and satisfied with how they were treated - but then, they get their bill! If your hospital’s billing department isn’t equipped to continue that positive patient experience after the patient is discharged, you may be losing patients.

Why The U.S. Healthcare System Ranks Worst in The Developed World

2017-04-02T13:28:34-04:00By BHM Marketing|Care Coordination, Financial, Health Care Reform|

The Commonwealth Fund released a report this week that revealed that the U.S. Healthcare System performs the worst- across the board – compared to other healthcare systems in the developed world.

3 Collection Leverage Strategies | Maximizing Bad Debt Collections

2017-04-02T13:28:34-04:00By BHM Marketing|Financial, Financial Analysis|

The best bad debt collection strategy utilizes three leverages, which "motivate" patients to pay a delinquent bill. 1. Independent Third-Party | Collection Leverage The first is the involvement of an independent third-party. Collection agencies create a situation where the debtor may or may not know what the collection agency is going to do to collect the debt. I call this the threat of the unknown. This creates an environment, which motivates some account holders to resolve their debt quickly and amicably.

Physician Compensation 101: How Doctors Get Paid

2017-04-02T13:28:34-04:00By BHM Marketing|Financial, Health Care Reform, Physician Compensation|

The U.S. Healthare System is moving toward unifying physician compensation methods, but we’re not there yet. If you’ve ever tried to understand all the various methods by which doctors are paid in the U.S. and found yourself completely and utterly baffled, you’re not alone. Here’s a handy guide to help you understand the various methods by which physicians can be paid.

Healthcare Offshore BPO Companies May Benefit U.S. Economy

2017-04-02T13:28:35-04:00By BHM Marketing|Financial|

U.S. based healthcare BPO companies in the Philippines and other countries are contributing to economic growth and prosperity around the globe. The financial benefit offshore BPO companies create extends beyond the host country. U.S. based employees benefit because there is a need to manage the services delivered through offshore locations in the U.S. The American worker is not the only one who benefits from a growing global strategy. U.S. Healthcare providers who use cost-effective offshore strategies benefit in several ways: - Delivery of services, such as medical coding can keep up with healthcare’s growing demand, even though there aren’t enough qualified U.S. employees to fill those highly skilled jobs - Providers benefit by reducing operating costs so existing services can be delivered at the same level without resorting to employee layoffs - U.S. citizens benefit by receiving better care because providers can leverage operating costs savings and invest in advanced technologies and the best and brightest care providers

The Penalty Box | CMS’ 3 Ways to Ding Hospitals

2017-04-02T13:28:35-04:00By BHM Marketing|Compliance, Financial, Financial Analysis, Health Care Reform, Medicare and Medicaid, Quality Improvement Programs, Readmissions, Services|

Are you one of many hospitals being dinged with CMS penalties? Are you ready to be dinged for Hospital Acquired Conditions, in addition to readmissions and value-based purchasing? How can a hospital remain profitable? In terms of hockey, the penalty box is where players are sent when they have committed an act which is against the regulations of the game. The player is forced to sit in the penalty box for a period of time, causing the team to play with less players, until the penalty time has lapsed.

Are ACOs The New HMOs?

2023-07-28T14:56:33-04:00By BHM Marketing|Accountable Care Organizations, Financial, Health Care Reform|

Historically, HMOs are notorious for incurring poor health among patients and bolstering already bloated administrative costs. When healthcare reform was on the horizon, the promise of Accountable Care Organizations in lieu of traditional HMOs lifted the wilted spirits of doctors and patients alike. A few years of ACOs, however, seems to have done little to assuage the initial fears of these groups that ACOs are just nicely dressed HMOs.

10 Reasons Your Claim Was Denied

2017-04-02T13:28:37-04:00By BHM Marketing|Financial, Health Insurance, Services|

There are many reasons a claim might be denied, but did you know that many of them are actually simple oversights that can easily be corrected? Check your denials against this list to see how many preventable errors might be costing your hospital money.

Want to make a lot of money in healthcare? Don’t become a doctor.

2017-04-02T13:28:37-04:00By BHM Marketing|Financial, Physician Compensation, Services|

This week the New York Times ran an article about the top earners in healthcare- and perhaps a surprise to none, doctors did not top that list: administrators did.

The Cost of Resistance | Clinical Coding Optimization

2023-07-28T14:53:42-04:00By BHM Marketing|Financial, Financial Analysis, Medicare and Medicaid, Physician Compensation, Services|

Physician practices may be lagging behind hospitals when it comes to implementing coding software. The hesitation to do so is costing them not only efficiency in coding, but reimbursements withheld due to avoidable errors.

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