Deploying EPM in the cloud: 6 steps that drive value
Cloud-based enterprise performance management (EPM) offers tremendous potential for health systems, but the ability to drive value depends on a thoughtful approach that puts as little pressure as possible on existing resources, both technological and human.
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.
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”…
4 steps healthcare CFOs can take to improve interoperability
Achieving information interoperability has long been touted as a solution to challenges that have plagued the healthcare industry for decades. For example, a health system that operates multiple electronic health records (EHRs) and systems across its facilities, hospitals and practices must undergo an extremely time-consuming and complicated process in gathering comprehensive patient records (e.g., by…
Pharmacy transparency: a rising trend in the industry
After publishing my Nov. 29 blog, which delved into Cost Plus Drugs’ expansion into the specialty drug market, CVS Health revealed plans to streamline its pricing and sales approach for pharmaceuticals in retail pharmacies. This move by the pharmacy giant, which operates approximately 9,500 retail pharmacies, involves simplifying the reimbursement process for these pharmacies. The…
10 Keys to Restoring Trust in Healthcare
The issue of restoring consumer trust in the U.S. healthcare system encompasses a wide range of concerns. Factors in the perceived loss of trust include anxiety and confusion over costs, entrenched inequity, a glut of misinformation about vaccines and other treatments, and data and privacy breaches. To examine the problem and explore solutions, HFMA’s 16th…
Prior authorization in Medicare Advantage remains in the policy spotlight as 2024 regulations take effect
Healthcare policymakers and stakeholders continue to mull the need for guardrails to ensure optimal customer service among Medicare Advantage (MA) health plans. The American Hospital Association wrote a Nov. 20 letter to CMS stating that MA plans are looking to skirt policies designed to ensure straightforward coverage of essential healthcare services. These policies, finalized earlier…
Congress doesn’t seem to be mulling a fix for the 2024 Medicare physician payment cut
Congress has mitigated a scheduled Medicare payment cut for physicians going into each of the last three years, but relief does not appear to be on the way for a fourth year running. Medicare’s 2024 final rule for physician payments includes a $1.15 decrease to the conversion factor, amounting to a reduction of more than…
Proposed rule sets Medicare penalties for providers that commit information-blocking infractions
Hospitals and other healthcare providers would face penalties for knowingly engaging in information blocking, with the sanctions affecting their Medicare reimbursement, according to a proposed rule from the U.S. Department of Health and Human Services (HHS) and CMS. Published at the beginning of November, the rule implements some terms of the 21st Century Cures Act,…
Research Summary: 2024 Digital & IT Investment Trends
HFMA, with sponsorship from Guidehouse, surveyed 144 healthcare executives to understand their digital and IT investment priorities going into 2024. The survey found that 85% expected their organization’s digital and technology budget to increase in 2024. The top three priorities for investment included: cybersecurity infrastructure, EHR integration and modernization, and digital front door or virtual…