COVID-19’s impact on healthcare drives the need for a consumer focus
Healthcare providers require a consumer focus to be able to address the many profound and ongoing impacts of COVID-19, including patient anxiety, reduced patient volumes, unfavorable changes in payer mix and poor financial performance.
Healthcare revenue cycle leaders, it’s your move
Healthcare providers can benefit from using a chess-inspired strategy to rebuild the revenue cycle after COID-19, as they continue to prepare or value-based care.
COVID-19 deals a severe blow to hospital performance
Health system executives and finance leaders responding to a recent survey expressed concern about the financial viability of their organizations amid the ongoing COVID-19 crisis.
Why healthcare providers should rethink their approach to self-pay collections | HMA
Prepayment is an option for patient self-pay collections that can contribute to a positive experience for patients and improved revenue cycle performance for a provider organization.
How to prevent silent denials from eroding a hospital’s margin
Hospitals should take steps to prevent silent denials. Such denials are a common result of inaccuracies introduced as a result of clinical conservatism, which can have an impact on reimbursement before a claim is submitted.
4 crucial health system responses to the revenue impact of COVID-19
The nation's hospitals and health systems have a critical need to begin preparing now for the long-term financial impacts of the COVID-19 pandemic.
How to apply a value equation in setting compensation for specialty providers
An effective value-based compensation system for surgical specialists should not only account for the physician’s service, quality of care and financial performance, but also the extent to which the physician exhibits high standards of citizenship.
CMS Administrator Seema Verma receives HFMA’s Board of Directors Award, talks with CEO Joe Fifer
At HFMA's Digital Annual Conference, President and CEO Joe Fifer presented CMS Administrator Seema Verma with the Association's highest honor: the Richard L. Clarke Board of Directors Award in recognition of her outstanding contributions to healthcare in a role that involves oversight of a $1 trillion budget, representing 26% of the total federal budget, and administration of health coverage programs for more than 130 million Americans. Following the presentation, Fifer and Verma had a Q&A session in which she addressed price transparency, the pandemic, and the future of value-based care.
How to build a resilient not-for-profit healthcare company
To build a resilient organization that can withstand adverse changes to its core business model, leaders should create a foundation for absorbing first shocks of dislocation by breaking the company into three components: an operating company, finance company and investment company.
Healthcare organizations should expect a surge in managed care audits and reviews in the COVID-19 aftermath
Healthcare providers should prepare for emerging trends in payer audits, reviews and associated information requests, after the brief lull in such activities that occurred with the onset of the COVID-19 pandemic.