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On February 10-12, Physicians, Payers, and Providers will discover strategies for implementing value-based payment arrangements with both private and public sector payers.
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MAP App is a web-based application that helps organizations improve revenue cycle performance based on industry-standard metrics called MAP Keys.
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Guidance for understanding and communicating about the price of health care.
Transformation toward value-based healthcare is reshaping the delivery of care, patient expectations, and payment structures.
Improve your revenue cycle performance through standard metrics, peer comparison, and successful practices.
Acute care discharges fell again in 2011, for hospitals overall and for most of the hospital groups.
Without accounting for patient severity, hospital expenses and patient revenues decreased between the second quarters of 2010 and 2011.
When comparing a hospital's labor productivity with that of peer hospitals, finance leaders should keep in mind some limitations of the most widely used metrics.
Measuring gross revenue is becoming increasing less reliable as an indication of how well hospitals are doing in their revenue cycle management activities.
Forum sponsor Kaufman, Hall & Associates discusses how to strategically plan to ensure a hospital's long-term financial sustainability.
Not using proven translation tools to determine the impact of ICD-10 conversion can sway the estimation of reimbursement impact by a factor of 50, causing unnecessary fears over potential revenue losses.
In response to explosive growth, corporate changes, and the volatile healthcare environment, Pittsburgh Mercy Health System adopted a flexible planning tool for forecasting and budgeting.
The potential of advanced analytics in business intelligence for healthcare finance leaders.
An analysis compares the profitability of urban and rural hospitals paid under the inpatient prospective payment system with that of rural hospitals with special Medicare payment provisions.
An analysis of changes in discharge rates discloses that, after increases in 2006 and 2007, the percentage change dropped from 2008 through 2010 for all hospitals and most groups in the analysis.
"Our managers needed a more up-to-date budget that could reflect changes in referral patterns, drug utilization, or costs occurring after development of the original budget,” says Karen Wartenberg at Moffit Cancer Care.
What are the most important performance indicators for a new hospital or physician practice?
Healthcare entities need to determine an appropriate accrual from their medical malpractice medical malpractice year-end adjustments to ensure adequate reserves in year-end financial statements.
"Many rural providers believe they are operating within the coordinated Medical Home-type approach that promises to reduce healthcare costs. The findings of this analysis support that contention. "
A study looking at data adjusted for patient severity found that both revenues and expenses showed increases per adjusted discharge from the second quarter of 2010 through the second quarter of 2011.
Payment challenges, spiraling healthcare costs, and a slow economic recovery are some market forces that have ignited the national explosion of consolidation.
When assessing revenue cycle performance, the best approach is to narrow the focus to the key performance indicators that have the greatest potential impact on A/R and cash flow.
A county-owned and managed safety-net hospital developed a strategic plan that is driven, in part, by financial projections.
How can we best measure our cost position and drive performance?
Cost reduction is a central goal in healthcare reform, and cost analysis is a critical activity in healthcare organizations. However, cost analysis is not simply identifying cost. Used appropriately, cost analysis assists managers in making decisions in areas like pricing, revenue planning, setting standard cost, capital investment, and marketing decisions.
What metrics should hospitals use for business planning?
A review of an archive of state data from 2010 through 2012 shows that average LOS and charges are significantly below the same measures from the MedPAR data.
Evaluation and validation of return-on-investment (ROI) calculators designed for healthcare provider organizations is now available through the Peer Review program offered by the Healthcare Financial Management Association (HFMA).
What is the cost-to-collect benchmark if we include health information management in our indicator?
A leader from McKesson discusses how healthcare reform is forcing hospitals and health systems to take a different approach to capacity management and patient flow.
Patient financial engagement is more challenging than ever – and more critical. With patient responsibility as a percentage of revenue on the rise, providers have seen their billing-related costs and accounts receivable levels increase. If increasing collection yield and reducing costs are a priority for your organization, the metrics outlined in this presentation will provide the framework you need to understand what’s working and what’s not, in order to guide your overall patient financial engagement initiatives and optimize results.
Emad Rizk, MD, president and CEO of Accretive Health, discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management.
No two patients are the same. Each has a very personal healthcare experience, and each has distinct financial needs and preferences that have an impact on how, when and if they chose to pay their healthcare bill. It’s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients. The need to tailor financial conversations and payment options to individual needs and preferences is critical. This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach, but take control of rising collection costs.
Jim Bohnsack, vice president, solution & corporate development for Conifer Health Solutions, explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements.
This white paper, written by Apex Vice President of Solutions and Services, Carrie Romandine, discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle. Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs, but it will maximize the amount collected before sending to collections. Further, targeted messaging should be applied across all points of patient interaction (i.e. point of service, customer service, patient statements) and analyzed regularly for maximized results.
Steve Scibetta, senior director of channel sales for Ontario Systems' healthcare product line, shares insights into effectively managing receivables.
This white paper, written by Apex President Patrick Maurer, discusses methods to increase patient adoption of online payments. Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections. This white paper shows why patient-centric approaches to online payment portals are important complements to traditional provider-centric approaches.
Elena White, vice president of risk, quality, and network solutions for Optum, discusses how healthcare providers can leverage data and technology as they enable risk in their organization.
Increased electronic engagement between healthcare providers and patients provides significant opportunities for improving revenue cycle metrics and encouraging patients to access EHRs. This article, written by Apex Founder and CEO Brian Kueppers, explores a number of strategies to create synergy between patient billing, online payment portals and electronic health record (EHR) software to realize a high ROI in speed to payment, patient satisfaction and portal adoption for meaningful use.
Somnia President and CEO Marc Koch, MD, MBA, explains how hospitals can drive transformative change in the perioperative experience for outstanding clinical and financial outcomes.
Faced with a rising tide of bad debt, a large Southeastern healthcare system was seeing a sharp decline in net patient revenues. The need to improve collections was dire. By integrating critical tools and processes, the health system was able to increase online payments and improve its financial position. Taking a holistic approach increased overall collection yield by 10% while costs came down because the number of statements sent to patients fell by 10%, which equated to a $1.3M annualized improvement in patient cash over a six-month period. This case study explains how.
PMMC President Roger L. Shaul discusses the effects of healthcare reform on revenue cycle management and how PMMC's products help clients adapt to a changing financial environment.
With the ICD10 deadline quickly approaching and daily responsibilities not slowing down, final preparations for October 1 require strategic prioritization and laser focus.
Greg Burgess, Founder and Chief Product Officer at Burgess Group shares insights and opportunities for payment integrity in the rapidly changing healthcare IT landscape.
Read how Gwinnett Medical Center provides clear connections to financial information, offers multiple payment options for patients, and gives onsite staff the ability to collect payments at multiple points throughout the care process.
Read how Orlando Health was able to perform deeper dives into claims data to help the health system see claim rejections more quickly–even on the front end–and reduce A/R days.
To maintain fiscal fitness and boost patient satisfaction and loyalty, healthcare providers need visibility into when and how much they will be paid–by whom–and the ability to better navigate obstacles to payment. They need payment clarity. This whitepaper illuminates this concept that is winning fans at forward-thinking hospitals.
Financial services staff are always looking for ways to improve the verification, billing and collections processes, and Munson Healthcare is no different. Read about how they streamlined the billing process to produce cleaner bills on the front end and helped financial services staff collect more than $1 million in additional upfront annual revenue in one year.
Effective revenue cycle management can be a challenge for any hospital, but for smaller providers it is even tougher. Read how Wallace Thomson identified unreimbursed procedures, streamlined claims management, and improved its ability to determine charity eligibility.
Before launching an energy-efficiency initiative, it’s important to build a solid business case and understand the funding options and potential incentives that are available. Healthcare leaders should consider taking the steps outlined in the whitepaper to ease the process of gaining approval, piloting, implementing, and supporting sustainability projects. You will find that investing in sustainability and energy efficiency helps hospitals add cash to their bottom line. Discover how hospitals and health systems have various options for funding energy-efficient and renewable-energy initiatives, depending on their current financial structure and strategy.
Health care is a dynamic mergers and acquisitions market with numerous hospitals and health systems contemplating or pursuing formal arrangements with other entities. These relationships often pose a strategic benefit, such as enhancing competencies across the continuum, facilitating economies of scale, or giving the participants a competitive advantage in a crowded market. Underpinning any profitable acquisition is a robust capital planning strategy that ensures an organization reserves sufficient funds and efficiently onboards partners that advance the enterprise mission and values.
The success of healthcare mergers, acquisitions, and other affiliations is predicated in part on available capital, and the need for and sources of funding are considerations present throughout the partnering process, from choosing a partner to evaluating an arrangement’s capital needs to selecting an integration model to finding the right money source to finance the deal. This whitepaper offers several strategies that health system leaders have used to assess and manage capital needs for their growing networks.
Copyright 2016, Healthcare Financial Management Association.
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