How to staff smarter and reduce reliance on expensive travel contracts
To bridge the healthcare staffing gap and tackle workforce issues such as burnout, spikes in labor costs, and rising retirements among nurses, hospitals and healthcare facilities need a technology-driven approach that empowers staffing managers with the control needed to address fluctuating patient volume without understaffing or overspending on labor. This How-To guide highlights the challenges,…
How leveraging artificial intelligence in utilization management can enhance your revenue cycle
This white paper dives into how AI will help make healthcare sustainable and provide more of a focus on patient care. The goal is to decrease industry challenges and create new efforts to reduce the administrative cost of healthcare.
Artificial Intelligence for RCM: Separating Hype from Reality
A growing volume of tagged data is exacerbating an already complex healthcare revenue cycle management (RCM) process that is largely transactional in nature, thus making RCM an area that is prime for automation and the application of artificial intelligence (AI). From automating manual and redundant tasks within patient access, coding, billing, and collections to applying…
Addressing the Rising Patient Payment Obligation: Impact and Strategies amid today’s challenging healthcare environment
In the Fall of 2021, CommerceHealthcare® sponsored a focused survey conducted by the Health Management Academy (HMA), an organization for executives from the nation’s top health systems and leading companies. The HMA survey involved both quantitative polling and in-depth telephone interviews to explore current issues in patient financial experience. This report combines those findings with…
Assessing Reality in Healthcare Financial Information
Healthcare stakeholders, including management, regulators, investors, rating agencies, lenders, media and others seek information to evaluate operating margins and profitability metrics for hospitals and other healthcare organizations. Financial statements, tax/information returns and Medicare cost reports are key information sources for the healthcare industry, but many times they convey seemingly contradictory information, which creates confusion for…
The shift toward integrated pharmacy services: driving long-term success
One driving factor for health systems and hospitals shift to in-house integration pharmacy services is average turnaround time. For an outsourced specialty pharmacy, turnaround is 10 to 14 days, whereas an in-house specialty pharmacy can reduce that time to just 2.1 days.
Revenue cycle innovation: How automation can mitigate the financial impact of COVID-19
These four tips will help hospital financial leaders lessen the economic impact of COVID-19 now and in the future: Build and retain a core revenue cycle team, contain labor costs, redeploy talent more effectively and enhance revenue integrity.
The Role of Revenue Cycle in Elevating the Human Experience in Healthcare
This paper, published in collaboration with the Beryl Institute, explores how revenue cycle plays an integral role in a person’s experience well before and after a clinical engagement. It reinforces that if we are to ensure the best in experience, we must recognize and act to support every factor that impacts outcomes. Revenue cycle is far more than an operational function; it is a strategic driver that frames the patient journey, as it is typically the first impression and last touchpoint with a healthcare organization.
Revamping prior authorization: How AI and automation could boost care and revenue
Prior authorization is the most time-consuming transaction for medical providers, taking up to an hour to complete manually. Find out how providers and health plans can save up to $417 million annually be automating prior authorizations.
Hospitals and health systems remain optimistic, overall, about APMs
An August HFMA survey, sponsored by GHX, found that, overall, hospitals and health systems are optimistic about seeing improvements in coordination and collaboration with partners in risk-based payment models over the next five years. The findings suggest organizations are moving ahead unabated in their value-based payment strategies.