In today’s healthcare environment, it’s difficult to maintain a profit, even in the absence of mistakes. With chargemaster errors, staying lucrative is nearly impossible. The chargemaster and its pricing lists are the foundation ...
Telehealth — the practice of providing healthcare remotely — is becoming more prevalent. Hospitals that struggle to generate the majority of their revenue from high patient volume have been able to expand their geographic reach ...
Every year, hospital leaders are asked to find more ways to tighten their budgets. Doing more for less is the norm. One place where cuts can occur, often without reducing staff, is the pharmacy, which at 10-20 percent of the ...
As we prepare for the new year, many people across the globe are united in wishing for one thing: an Alzheimer’s breakthrough. Few people have not been affected by the disease in one way or another. Just this year, direct costs ...
Looking to improve revenue? Industry best practices state that charge capture errors should occur on less than 2% of accounts or claims. But at a time when margins are shrinking, accepting errors on even 2% of accounts means ...
Hospitals’ financial performance has worsened significantly since the beginning of 2016. According to a recent article in the Harvard Business Review, the main problem is a lack of operational discipline and a disconnect between ...
Hospital and health system spending is projected to grow faster than the U.S. gross domestic product over the next 10 years. And it’s already at an unsustainable level. That’s why hospitals are continually striving to reduce ...
A hospital’s financial health depends largely on its revenue cycle operations. The more unpaid bills that sit in accounts receivable, the less money you have rolling in. That means more time and effort spent on collection, ever ...
At the nation’s best hospitals, revenue cycle management is front and center. The Healthcare Financial Management Association (HFMA) has just announced the winners of the MAP Award for High Performance in Revenue Cycle. Of 110 ...
Blockchain. You’ve probably heard the term. You may not have known that it could alter revenue cycle management in healthcare to the core. The CEO of IBM has already said that Blockchain will do for transactions what the internet ...
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