Leveraging extensible technology to create consumer-centric healthcare ecosystems
Implementing new technologies can eliminate tedious tasks and open the door for more impactful work as well as provide patients with easier access to convenient scheduling, registration and billing options. Dive into this roundtable for additional insight on technologies progressing the industry.
News Briefs: The expiration of the COVID-19 PHE brings an end to key provisions
The termination of the COVID-19 public health emergency (PHE) on May 11 meant providers lost many of the accommodations and regulatory flexibilities that were in place since Jan. 31, 2020. For example, Medicare’s 20% add-on payment for treating COVID-19 cases in the inpatient setting no longer is available. With reported cases and hospitalizations steadily trending…
Healthcare providers seeing more diagnosis-related group downgrades and ghost denials
Each year, tens of millions of medical claims will be denied by healthcare payers. One executive director led a session with more than a dozen attendees highlighting their experiences with DRG downgrades and lessons learned to help other organizations better measure, manage and successfully appeal these complex denials.
HFMA, it’s time for action!
We’ve all been in situations where the time was right, where conditions were optimal or good enough to suggest the best opportunity for action. Growing up on a dairy farm, I learned early that nature exerted a stronger hand on our schedules and work than anything humans could muster. Weather was, of course, a constant…
Marcus Whitney: Banking struggles are limiting healthcare innovation
T here has not been much ado in the healthcare world about the failure of Silicon Valley Bank (SVB), but maybe there should be. Once considered the go-to bank for startups, SVB was the target of a bank run March 9 driven by news of their held-to- maturity bonds being underwater, and it was taken over by…
Ken Perez: 3 strategic options hospitals can use to repair today’s negative margins
The year 2022 has been characterized by some economists as being the worst financial year for U.S. hospitals in decades as expense growth has outpaced revenue increases. As a result, many hospitals and health systems have a pressing need to launch initiatives that can effectively repair their negative operating margins.a Labor shortages and inflation demand…
Healthcare News of Note: 3 factors increase the likelihood that a physician has been sued
Some46.8% of physicians over the age of 54 report they have been sued compared to 9.5% of physicians under the age of 40. The revenue cycle management segment accounted for the largest revenue share in the global healthcare finance solutions market in 2022. Greater representation of Black primary care physicians (PCPs) in the PCP workforce…
David Johnson: The orthopod’s dilemma — Caught between the PE rock and the venture capital hard place
The OrthoForum is the premier convening and advocacy organization for large, independent orthopedic physician groups. In March 2022, I gave a keynote address at The OrthoForum’s Annual Conference in Orlando, Florida. Attending the conference at the posh Grande Lakes Ritz-Carlton gave me a front-row seat to the economic forces reshaping orthopedic care delivery in the…
How the balance sheet can contribute to performance improvement
Significant opportunities for cost savings, enhanced liquidity and improved efficiencies lie within an organization’s debt structure, treasury operations and real estate portfolio. There has always been a connection between performance improvement initiatives and the balance sheet. By reducing operating costs, boosting productivity and enhancing revenues, a successful performance improvement initiative bolsters an organization’s financial performance.…
CMS issues RFI to gather best practices for identifying and supporting safety net hospitals
As part of the FY24 proposed rule for hospital inpatient payments, CMS is seeking healthcare stakeholder input on how to best support safety net hospitals in the Medicare program. The agency is considering ways to reimburse safety net hospitals via supplemental payments that may be better targeted than disproportionate share hospital (DSH) and uncompensated care…