Benchmark tool for revenue cycle automation finds some success
A just over one-year-old revenue cycle management benchmarking tool has been working well for two early adopters of the framework, called the Revenue Cycle Management Technology Adoption Model (RCMTAM). The Pennsylvania Mountains Healthcare Alliance (PMHA) and UC San Diego Health (UCSD) have used the model to gain more clarity on how their RCM operations are…
In pushing through restrictions on medical debt reporting, CFPB brushes off criticisms and concerns
Rebuffing apprehensions of healthcare providers and debt collectors, the Consumer Financial Protection Bureau (CFPB) published a final rule to block medical debt from appearing in a consumer’s credit history. As initially proposed in June, the regulations prohibit lenders from obtaining and using information about medical debt when determining a consumer’s credit eligibility (exceptions may include…
Texas Health Resources enhances self-scheduling with flexible options
Amid expected growth in demand from patients to schedule their own clinic visits, an Arlington, Texas-based health system learned that in practice some patients want more than just the ability to go online to choose a visit time, date and provider. Officials for Texas Health Resources (THR) found that out while implementing a new self-scheduling…
How regulatory shifts are shaping the future of revenue cycle operations
The healthcare industry is set for a major transformation, driven by government policies, legislative reforms, insurance updates and a continuous evolution of compliance and privacy standards that impact revenue cycle management (RCM). These developments present both challenges and opportunities for RCM teams but embracing them is crucial for healthcare organizations to thrive. Key regulatory changes…
Adopter Organizations
HFMA Patient Financial Communications Best Practices Adopters include 85 hospitals and 68 clinics.
Proposed ban on medical debt reporting faces an unfavorable political climate
Regulations essentially prohibiting the reporting of medical debt appear to be on shaky ground heading into 2025. Litigation brought by trade groups representing the accounts receivables industry has stalled the advancement of regulatory language issued by the Consumer Financial Protection Bureau (CFPB), and a bigger threat is impending with the upcoming transition of power in…
The strategic role of revenue cycle management in battling rising healthcare costs
Healthcare organizations are facing unprecedented operating costs, largely driven by labor and inflation. According to the American Hospital Association (AHA), “Persistent workforce shortages, severe fractures in the supply chain for drugs and supplies and high levels of inflation have collectively fueled hospitals’ costs.” The AHA also emphasized the challenges of “higher acuity care and deepening…
Navigating regulatory challenges in hospital revenue cycle: the impact on RCM teams and the path forward
The term “regulatory compliance” is often associated with its cost. However, the foundational purpose of regulations is to protect patients and ensure quality care. Most would agree a healthcare system without regulations would be catastrophic. But provider organizations are now burdened with managing compliance under increasingly complex requirements. If they fall short, they can expect…
Bridging the payer-provider divide
No one wins when there is animosity between health plans and healthcare providers, least of all patients. They often must wait months to find out whether care will be covered and what their out-of-pocket cost will be as payers and providers negotiate the details.
The invisible costs of cancer treatment
Dr. Kamal Golla is back on the podcast this week discussing the financial considerations for patients and their care team after a cancer diagnosis.