Financial/Revenue Cycle Management
A new report from the Center for Health Information and Analysis examines the readmission patterns for patients discharged from Massachusetts acute care hospitals.
Sheri Liebl, executive director of revenue cycle at CentraCare Health, says the healthcare system improved point of service collections by 25% by giving patients options.
Healthcare lawyer Andrew Selesnick said one key will be to establish a stable, user-friendly platform that can make documentation seamless.
This week's top stories include a push for a stronger focus on population health to improve health disparities, while drops in admissions put a financial squeeze on smaller and rural hospitals in particular.
The numbers represent a 2,632% increase compared to the same time period last year.
Hospital and health plan leaders also see revenue cycle management as an area of innovation that's stood out during the COVID-19 pandemic, according to a report from KLAS and CCM.
At the practice, appointment reminders have helped boost collections per visit by 7%; revenue cycle management cost per visit was reduced by 30%; and arrival rates have increased 2.5%.
The company says its name is too similar to its CarePort Health subsidiary, and is "highly likely to cause confusion."
The financial IT used by University Physicians’ Association increased patient payments by 43%, and the payment lag for self-pay patients is down 20 days. “That’s huge,” a UPA exec says.
Hospital associations call the threat from CMS to withhold Medicare and Medicaid participation for non-compliant data reporting "reckless."