Revenue Cycle

2024 outlook: Hospitals can expect a steadier year financially, but key questions loom

Although the past year brought more stability for the not-for-profit hospital sector, analysts foresee 2024 as a pivotal period in determining the viability of individual organizations. Fitch Ratings continues to describe the sector’s outlook as “Deteriorating.” In a year-end report, the credit-rating agency said downgrades of hospitals and health systems in 2023 had outpaced upgrades…

Nick Hut December 22, 2023

No Surprises Act end-of-year update: A new administrative fee is set, and the arbitration portal is fully functional

Bringing out-of-network payment disputes to arbitration under the No Surprises Act in 2024 will be less expensive than previously described. In a final rule, the U.S. Departments of Health and Human Services (HHS), Labor and Treasury set the administrative fee for using the independent dispute resolution (IDR) portal at $115 per case, effective 30 days…

Nick Hut December 20, 2023

HFMA strategy session highlights challenges and opportunities for healthcare finance leaders: payer relations, supply costs, AI and more

The legacy healthcare provider’s position in the industry could grow tenuous if leaders don’t respond boldly and strategically to ongoing trends, according to insights recently presented to HFMA leaders. “We’re at a crossroads right now,” Ashraf Shehata, principal and U.S. national sector leader for healthcare and life sciences with KPMG, said in November during a…

Nick Hut December 19, 2023

Healthcare Blame Game: TIME hits the mark, Modern Healthcare misses, and a longtime HFMA member talks about why CFOs should build media relationships

Brad speaks with retired CFO and longtime HFMA member Jim Heffernan about why CFOs should be at the forefront of telling an organization’s financial story.

Erika Grotto December 13, 2023

Understanding the true cost to collect requires focusing on high-level KPIs

Revenue cycle management leaders from around the country share their perspectives on defining and maintaining a high-performance revenue cycle and the challenges they face in working to enhance revenue cycle management.

HFMA December 12, 2023

AI-powered coding automation: The state of the art and future direction

This roundtable discussion conducted at HFMA’s 2023 Annual Conference in Nashville, Tennessee sought to understand both the opportunities and challenges that AI-powered coding automation poses for healthcare organizations.

HFMA December 11, 2023

RemitConnect® helps healthcare organizations automate manual posting and reconciliation processes

This HFMA Peer Review Spotlight explores the benefits of CommerceHealthcare's RemitConnect solution in complementing a healthcare organization's existing patient accounting or practice management system.

HFMA December 11, 2023

Moody’s sees potential positive RCM impact from AI

Ratings agency Moody’s Investors Service has joined other industry players in identifying ways artificial intelligence can create efficiencies in revenue cycle management. The growing use of the technology potentially could bring accounts receivable balances down and minimize write-offs of past-due balances, according to the three authors of a report published in the company’s “Healthcare Quarterly”…

Paul Barr, MS, MBA December 11, 2023

Igniting revenue cycle’s superpower: Patient advocacy

Larami Oliver took over revenue cycle operations for Heart and Vascular Care in Cumming, Georgia, in the heat of the pandemic, and under her leadership, the division was able to persevere. Key to the operation’s success: a shift in focus from post-claim revenue cycle response to pre-service education and support. “We’ve taken a proactive approach…

Jeni Williams December 11, 2023

5 opportunities to unlock revenue through better compliance management in the midcycle

Hospitals and health systems are facing unprecedented challenges. Inflation, rising costs and razor-thin margins have caused many to shutter service lines, lay off non-patient-facing employees or even close entire facilities. These drastic measures might be avoidable if organizations could find opportunities to improve financial viability in other ways. Identifying and addressing noncompliance in the midcycle…

HFMA December 11, 2023
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