How to automate revenue cycle operations to improve revenue and reduce resource dependency
Even with an increased focus on automation in the industry, too many revenue cycle operational processes remain highly manual and resource intensive. This is especially true for mid-cycle processes. Manual data entry, such as coding, leaves significant room for error and takes longer to complete, leading to slower reimbursement and ultimately impacting the bottom line. Automation…
New federal rule aims to eventually ease prior authorization processes
CMS is seeking to improve the prior authorization process in government programs such as Medicare Advantage (MA) and Medicaid, although the core provisions would not begin until 2026. The agency this week updated a Trump administration proposed rule with new proposals to “improve patient and provider access to health information and streamline processes related to prior authorization…
Bringing ESG principles to healthcare
Hospitals and health systems that don’t prioritize environmental sustainability arguably fail to do right by their communities, but more and more also may face a problem of greater short-term urgency. Namely, their access to capital could be constrained as the investor community looks to apply ESG principles to assessments of risks and opportunities. “I just…
Hospitals work to make the supply chain green
Even with all the challenges facing hospitals and health systems these days, the push to make operations more environmentally sustainable is becoming viewed less as a differentiator and more as an essential strategy. And for those organizations that have mastered energy conservation methods and made progress in greening their facilities and physical infrastructure, the supply…
How healthcare organizations can defend against financial hazards in 2023
What are the most critical strategies to steer healthcare organizations in the direction of financial stability in the following year and beyond? A couple tips include reducing bad debt and accessing external benchmarks for supply pricing.
7 tips for successful M&A integrations
When companies go through mergers and acquisitions (M&A), how do leaders manage integrating teams and culture? Read through some tips from a health care transaction principle who assists health systems across the M&A life cycle.
Cloudmed, an R1 company, helps health systems get paid for the care they provide
Using one company’s AI platform, health systems will find uncovered funds that can be used to hire essential practitioners, build new facilities and fund outreach programs.
Revenue cycle technology budgets rise to meet need for automation, AI and robotics, says new survey
See five areas where there is room for additional automation according to respondents in a recent survey. Also read about using AI in the revenue cycle and the benefits it brings hospitals and healthcare systems such as dealing with staffing challenges, dwindling margins and increased denial rates.
Most healthcare organizations want to augment current EHR workflows and would consider flexible outsourcing contracts
This pulse survey shows that there is no one-size-fits-all solution for managing today’s revenue cycle challenges. Savvy healthcare organizations know they need a combination of actionable insights and high-performance work teams to be successful.
CareCredit healthcare credit card provides flexible payment options for both patients and healthcare providers
Read about one company's payment solution that gives patients a way to pay for out-of-pocket healthcare costs while enabling health care organizations to receive payment for services within two business days.