hfm Magazine: January 2019
Cover Story Psychology and Behavioral Change Theory as Applied to Changing Revenue Cycle Payment Models Healthcare providers should consider a retail-like payment experience for patients. By Rajesh Voddiraju Web Exclusives Using Ambulatory Pricing Strategically to Protect and Grow Market Share An increasing regulatory focus on price transparency also is an impetus for hospitals and health…
New Approaches and Technologies for Improving Cost Performance in Health Care
One health system tackled their readmissions problem by identifying reasons for overstays.
Mercy Saves Millions in the OR Through Standardization and Automation
Surgeons from Mercy’s 41 hospitals worked with perioperative directors to reduce costly physician preference items. The health system also used an inventory management system to improve charge capture and eliminate time-wasting manual processes. Overall, Mercy has cut its supply costs by $3.6 million in 12 months.
Mobile Medication Management Improves Performance
G. Cameron Deemer reviews the benefits of mobile medication management and electronic prescribing, including fewer errors, cost savings, increased patient safety, and support of prescription drug monitoring programs (PDMP).
Artificial Intelligence Offers Revenue Cycle Opportunities
Artificial intelligence streamlines interactions with patients and payers. Examples include real-time out-of-pocket patient estimates, and, to reduce denials, analysis of health plan documentation before claims are submitted.
Grant Thornton: Helping Organizations Embrace Robotic Process Automation
Two senior leaders at Grant Thornton talk about the advantages of robotic process automation to improve office efficiency, reduce costs, and mitigate risk.
Taking a Holistic View of Procure-to-Pay
An in-depth look at how one company is enabling more efficient procure-to-pay processes to streamline healthcare organizations’ financial operations.
Shared Birthdays Cause Patient Matching Errors
Patients who share similarly spelled names and the same birth dates are particularly susceptible to patient record mismatches.
Patient Matching in the Era of EHRs
It is not uncommon for clinicians to have incomplete or inaccurate pictures of patients’ medical histories and conditions because the record and the patient do not match. This exposes healthcare organizations to medical errors, increased costs, and negative patient experiences.
The CFO’s Role in Innovation
Setting aside less than one percent of operating revenue for innovative projects can help organizations improve patient services and advance the Triple Aim. “The high performers in innovation are not necessarily the high percentage investors,” says Adam Ward, an innovation consultant.