41% of Americans make New Year’s resolutions every January and on average one third are able to maintain their resolution through March.Read More
There are many areas where a revenue cycle management partnership can be of great benefit, but it can be hard to know when it is time to take that next step. To help, here is a list of indicators to look for.Read More
Some organizations measure the value of a self-pay department exclusively on its ability to collect cash. Cash collection is an important aspect of this department but fails to recognize the importance the of the self pay team in providing exceptional patient experiences. To adequately measure your self pay department you should be looking at a variety of Key Performance Indicators (KPIs) on a regular basis. These KPIs should have a balanced focus that includes measurement of staff performance, utilization of technology and patient experience. Within your self pay department there are several simple KPIs with easy-to-monitor best practice metrics.Read More
Do you have a hard time finding metrics that relate to your facility? Are you frustrated because the healthcare industry is overrun by “best practice” indicators, and plagued by the notion that every revenue cycle fits into a cookie cutter best practice model?
After many years in the industry providing services across numerous revenue cycles and reviewing client results, it became very clear to me that the standard “best practices” performance indicators touted in revenue cycle publications are not likely the best gauge of AR health for your individual facility.Read More
Traditionally we think of revenue cycle as scheduling, registration, coding, billing, aged AR, denials, self-pay, and cash posting. We often silo the business office and don’t include the entire organization when building goals and strategy for the revenue cycle. If you want to build ownership and passion within a healthcare organization you need to include the entire team in your revenue cycle and financial success.Read More
Do you spend sleepless nights thinking about how to maximize throughput within your revenue cycle functions? Throughputs can include increasing cash, decreasing days in revenue outstanding, improving customer satisfaction or maintaining compliance standards and the available strategies are often complicated by external factors such as: consumerism, newly insured patients, increases in patient liability, sophisticated payer edits, denials for payment and staff turnover.Read More
Are you frequently reviewing your post ICD-10 risk mitigations plan? Did you even create a post implementation risk mitigation plan for your revenue cycle? If the answer is no to either of these questions don’t worry it is not too late to do something. The greatest risk areas in the revenue cycle is a delay in cash flow. You can start a simple risk mitigation plan by asking yourself some simple questions:Read More