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The 5 provider strategies to improve profit margins

Improving financial performance and operating margins has become one of the most pressing concerns for health system CEOs. To meet future margin targets, leaders will have to bring a new level of focus, resources and structure to achieve deeper cost reductions on a recurring basis. At the same time, this is critical to ensuring that…

Array September 13, 2023

HFMA Comments on Request for Information Regarding Medical Payment Products

HFMA presents its comment letter to CMS on Request for Information Regarding Medical Payment Products

Array September 13, 2023

How predictive analytics and AI shed light on payer behavior

Providers and payers have become more collaborative as payment models evolve toward value. Still, payer-provider relationships can seem one-sided — decidedly in favor of the payer — as hospitals continue to face declining reimbursement and rising costs. The increase in denials is a great example, with rates skyrocketing by 20% over 5 years, according to…

Array September 11, 2023

CY 2024 OPPS/ASC Proposed Rule Summary

HFMA presents a detailed summary of the proposed rule issued by CMS updating payments under the hospital outpatient prospective payment system and the ambulatory surgical center payment system for CY 2024.

Array September 8, 2023

Research summary: Study identifies health systems’ two biggest concerns — staffing and financial performance

HFMA, with sponsorship by Lifepoint, surveyed 100 healthcare respondents to better understand health systems’ concerns, including strategic priorities, staffing issues, improving the patient experience, partnerships, market expansion opportunities and co-location. Staffing and financial performance were the two greatest concerns for nearly all health systems. To learn more, download the key findings from the survey.

Array September 7, 2023

HFMA Comments on Hospital OPPS: Proposed Remedy for the 340B-Acquired Drug Payment Policy for CYs 2018–2022

HFMA presents its comment letter to CMS on the proposed rule, Medicare Program; Hospital Outpatient Prospective Payment System: Remedy for the 340B-Acquired Drug Payment Policy for Calendar Years 2018–2022.

Array September 7, 2023

Stemming the outpatient profit squeeze with a revenue cycle workflow gap analysis

Hospital and health system outpatient, outreach and ancillary services are often confined to EHR systems to manage their billing. Designed for bigger-ticket, lower-volume claims, these systems lack specific front-end intelligence, system connectivity, and automation necessary to efficiently manage these departments’ unique billing need. Too often, the result is an unnecessarily high number of submission errors,…

Array September 6, 2023

FY 2024 IPPS/LTCH Final Rule Summary

HFMA presents a detailed summary of the final rule released by CMS describing federal FY 2024 policies and rates for Medicare’s inpatient prospective payment system and the long-term care hospital prospective payment system.

Array August 30, 2023

Patient access: The key to a healthy revenue cycle

As hospitals and physician groups face ongoing labor shortages and skyrocketing costs, maintaining effective Patient Access processes is critical. Ensuring efficiency and accuracy upstream helps prevent delayed reimbursement downstream—while supporting a positive patient experience. Download this whitepaper to explore the three patient access processes that can help protect revenue and improve the patient experience. Identify…

Array August 29, 2023

Leverage healthcare price transparency data to promote financial sustainability

Healthcare organizations are encouraged to review strategies and how to collaborate with payers, among other insights in this article, in order to grow healthcare consumer trust, engagement and retention.

Array August 28, 2023