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Do You Really Know Your AR?

2024-06-28T23:05:24-04:00

Cliff Notes Much of what we consider our accounts receivable will never be collected Inaccurate variance logic will continually over/under represent AR Hospitals need to evaluate the likelihood of a positive outcome and ensure staff work corresponding populations Vendors should be utilized solely on a performance basis to collect on aged AR What is my AR, really? In-house unbilled, discharged not final billed (DNFB), follow-up, variance, denials, self-pay, bad debt. These are [...]

Do You Really Know Your AR?2024-06-28T23:05:24-04:00

Addressing the Hidden Issues of Automated Cash Posting

2020-08-19T09:19:03-04:00

15-20 years ago, the cash posting unit of a hospital was one of the larger units within the business office.  Lots of man hours were needed each day to organize and manually post paper checks/remits from the wide variety of payers in the marketplace.  Staff in these positions had to understand how the keystrokes they completed impacted the remaining accounts receivable after a payment was posted, along with the many differences in [...]

Addressing the Hidden Issues of Automated Cash Posting2020-08-19T09:19:03-04:00

Top 5 Missed Epic Revenue Cycle Optimization Opportunities

2020-10-09T16:15:51-04:00

Epic is a platform within the healthcare industry which generates a strong love/hate relationship.  On one hand, it centralizes information and opens communication across the provider spectrum. On the other hand, many supposed efficiency gains are bogged down in tedious workflows while promised reporting transparency remains unavailable or hidden in a mountain of reporting options which may all yield different results.  Five examples of underutilized Epic functionality that revenue cycle leadership should [...]

Top 5 Missed Epic Revenue Cycle Optimization Opportunities2020-10-09T16:15:51-04:00

Are Your Epic HB Workqueues Broken? Here’s How to Fix Them

2020-08-19T16:59:34-04:00

Workqueues (WQs), worklists, spreadsheets, reports. They are all trying to help us answer the same question. What accounts should we work and in what priority? How frequently is your PFS management team asking staff to re-sort their workqueues, work off spreadsheets for special projects, or work through a stack of paper denials? Workqueue build in Epic is one of the most critical pieces of your install and ongoing maintenance. After all, these are the primary workdrivers for your exception-based workflows. But are you really working the exceptions? Are your workqueues setup as effectively as you’ve been led to believe?

Are Your Epic HB Workqueues Broken? Here’s How to Fix Them2020-08-19T16:59:34-04:00

Accounts Receivable Outsourcing – 3 Keys to Making a Decision

2020-08-19T09:01:14-04:00

Three Keys to Outsourcing Success In our last newsletter, we introduced the blog series: Why AR Outsourcing Fails and How to Avoid Common Pitfalls. We introduced two primary dangers with outsourcing arrangements: Hospitals that outsource frequently relinquish full control to the vendor and end up in an “out of sight out of mind” situation Vendors many times interpret “silence” from the hospital as positive reinforcement for the program they have implemented There [...]

Accounts Receivable Outsourcing – 3 Keys to Making a Decision2020-08-19T09:01:14-04:00

Why Accounts Receivable Outsourcing Fails & How to Avoid Common Pitfalls

2020-08-19T08:55:51-04:00

Your internal self-pay team can’t handle the increasing volume of calls.  You’re aged insurance accounts receivable (AR) continues to increase.  Or maybe your internal resources just don’t have the necessary expertise (or time) to work a specialty population like out-of-state Medicaid or third-party liability. Any of these scenarios can cause you to start down the path of outsourcing a revenue cycle function or segment of your AR.  This is a process that [...]

Why Accounts Receivable Outsourcing Fails & How to Avoid Common Pitfalls2020-08-19T08:55:51-04:00

Getting in Front of the Self-Pay Trend in 2018

2020-08-19T08:55:56-04:00

There’s no denying that self-pay (SP) is on the rise. It’s a clearly established trend. If you are looking to improve your facility’s financial performance, then the SP category must be a significant part of your revenue cycle focus. Here is a quick snapshot of the trends, some levers you can pull to drive improved performance, and some questions you should ask to determine the size of your SP collections improvement opportunity. [...]

Getting in Front of the Self-Pay Trend in 20182020-08-19T08:55:56-04:00

Managing the Shift from Traditional Medicare to Managed Medicare Plans – Here’s How to Get It Right

2020-08-19T08:56:01-04:00

As the mix within Medicare continues to shift from traditional to managed plans, hospitals that don’t take steps to address the differences in administrative expectations and claims processing between plan types run the risk of increased denials and mounting accounts receivable (AR). Does your mix look like this? The Kaiser Family Foundation, in its 2017 Medicare Advantage Spotlight Report, states that: “Both the Congressional Budget Office and the Health and [...]

Managing the Shift from Traditional Medicare to Managed Medicare Plans – Here’s How to Get It Right2020-08-19T08:56:01-04:00

The Anatomy of a Revenue Cycle Scorecard

2020-10-09T11:26:34-04:00

Using metrics to drive actions that improve financial results Managing your revenue cycle in a world of shifting populations, increasing patient financial responsibility, and competitive pressure on volumes can be challenging, to say the least!  There are so many variables and changes in core processes that it can seem like an impossible task to keep track of it all.  The concept of using a scorecard is not new.  But when environmental factors [...]

The Anatomy of a Revenue Cycle Scorecard2020-10-09T11:26:34-04:00

How to Determine if Your Current EHR Platform Can Solve Your Revenue Cycle Challenges

2020-10-09T16:11:43-04:00

Don’t Buy More Software! - Four questions to help determine if your current EHR platform can solve your revenue cycle challenges   When hospitals determine that they have a challenge to be solved within their revenue cycle, it is extremely common for them to buy “bolt-on” software to fill perceived gaps in their electronic health record (EHR) capabilities.  But what we have found is that this is often unnecessary and can add cost [...]

How to Determine if Your Current EHR Platform Can Solve Your Revenue Cycle Challenges2020-10-09T16:11:43-04:00
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