Artificial Intelligence for RCM: Separating Hype from Reality
A growing volume of tagged data is exacerbating an already complex healthcare revenue cycle management (RCM) process that is largely transactional in nature, thus making RCM an area that is prime for automation and the application of artificial intelligence (AI). From automating manual and redundant tasks within patient access, coding, billing, and collections to applying…
Maximizing a remote RCM workforce through technology and transparency
As revenue cycle management (RCM) leaders continue to adapt to the shifting dynamics driven by the pandemic, many are still struggling to effectively manage their new work-from-home (WFH) employees. And with the current workforce shortage situation top of mind for these leaders, the need to offer remote or flexible work environments has become crucial to…
Hospitals are facing a long slog to return to pre-pandemic normalcy, panelists say
The logjam of patients who cannot be seen expeditiously at hospitals is becoming an entrenched problem with no imminent solutions, a CMS leader said this week. “The data tells us healthcare services, particularly for the Medicare population, have not come back to pre-pandemic levels,” said Jonathan Blum, principal deputy administrator and COO with CMS. “We’re…
Financial and operational pressures continue for hospitals amid some positive signs
New financial data for the hospital industry illustrate continuing challenges even as some trends improve. Fitch Ratings released an analysis in early March that offers scant reason for optimism. Titled “Early NFP Hospital Medians Show Expected Deterioration; Will Worsen,” it draws on data from hospitals with earlier 2022 financial year-ends. Those numbers show “materially weaker…
OIG describes how hospitals can use NPs to treat patients without violating the Anti-Kickback Statute
An advisory opinion from the HHS Office of Inspector General (OIG) appears to give hospitals leeway to expand their use of nurse practitioners in specific situations without violating the Anti-Kickback Statute. OIG issued the opinion in December in response to an inquiry from an unnamed acute care hospital. The hospital was seeking clarification on whether…
How healthcare providers can break down barriers to effective data governance
Promoting improved data governance in the hospital and health system sector has become a just cause of sorts for Randy Albert, who serves as vice president of finance – operations and analytics at Maine-based Northern Light Health and is a member of HFMA’s Northern New England Chapter. “This is a topic that I’m incredibly passionate…
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.
Labor costs and other concerns dampen the outlook for not-for-profit hospitals this year
Insights from a leading credit-rating agency illustrate the scope of the financial challenges facing not-for-profit hospitals in 2023.
Pandemic brought increases in the number of patients leaving the ED without being seen
Deferred care appeared to become more widespread in the emergency department amid the COVID-19 pandemic, according to a study.
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.