Navigating payer practices to reduce denials and enhance outcomes
The friction between payers and providers has existed for decades. It’s understandable to an extent. Payers want to reduce expensive and unnecessary treatment, eliminate fraud and lower financial risk. Providers want to be able to make decisions regarding their patients’ care without having to navigate the hurdles of medical necessity, prior authorization and complex payer…
The patient as the new payer: 5 opportunities to improve the patient financial experience
Patient collections have become an increasingly difficult challenge for hospitals due primarily to a shift in payer mix. Because of rising deductibles and increased patient responsibility, the percentage of healthcare provider revenue collected directly from patients increased to more than 30% from less than 10% over ten years, according to an article from HITLeaders. Faced…
2023 Change and Strategy Research Report
HFMA, with sponsorship from Guidehouse, surveyed 182 health system CFOs, CEOs, and other executives to understand how staffing and patient volumes are expected to change in 2023, and how various market factors may be influencing strategy and goals.
4 tips for simplifying prior authorizations
Healthcare spending in the U.S. has reached what many consider to be unsustainable levels. While spending in other developed nations averaged 8.8% of GDP in 2019, it was nearly double that in the U.S. at 16.8%. One of the major contributors to this spending is administrative waste, which accounts for up to 30% of our…
Revenue Cycle Operations Research Summary Report
HFMA, with sponsorship by Currance, surveyed 110 healthcare CFOs and revenue cycle, finance and accounting executives to understand how satisfied healthcare providers are with their current revenue cycle operations, and what they find most valuable.
Finance and IT Collaboration Survey Report
HFMA, with sponsorship by CereCore, surveyed 238 healthcare CFOs and finance executives to understand what healthcare finance professionals expect from their IT colleagues, how they currently collaborate and what improvements can be made.
Prioritization helps drive success in healthcare
A survey found that the most successful healthcare organizations are those that embrace consumerism and proactively seek ways to better meet patient needs.
The importance of eligibility and enrollment services on the heels of the Great Resignation
Given the millions of people who have left their jobs as part of the Great Resignation or have found themselves unemployed for other reasons, your health system’s ability to improve its eligibility and enrollment processes in the revenue cycle is essential.
Cost Reduction Program Summary Report
HFMA, with sponsorship from Strata Decision Technology, surveyed 185 healthcare finance, accounting and revenue cycle executives to understand cost reduction programs and how effective they are. The survey indicates that while 89% of healthcare organization have some type of cost reduction program in place, only 6% say their program is extremely effective. Survey respondents select…
New thinking: Shifting the revenue cycle paradigm for long-term success
Rethinking strategies around three fundamental areas will help healthcare providers maintain fiscal footing: staffing, financial management and RCM partners.