Results for Revenue Cycle Management (RCM)

Results 1-73 of 73

Blogs

Navigating the Fiscal Labyrinth: Cost-Containment Strategies for Healthcare RCM

The contemporary landscape of healthcare finance presents a formidable challenge for Chief Financial Officers (CFOs). Rising costs, shrinking margins, and an ever-evolving revenue cycle management (RCM) system create a complex labyrinth. Through strategic interventions and optimized Healthcare RCM processes, CFOs can mitigate financial pressures and unlock resources to enhance patient ...Read More

Blogs

Optimizing RCM Healthcare Processes for FQHCs

Revenue Cycle Management (RCM) in healthcare is the financial process utilizing medical billing processes that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final balance payment.RCM unifies the business and clinical sides of healthcare by combining administrative data, such as a patient's name, ...Read More

Blogs

Optimizing Healthcare Revenue: Advanced Strategies in Revenue Cycle Management

Imagine a bustling hospital, its corridors teeming with healthcare professionals and patients. Each patient interaction, from registration to treatment and discharge, encapsulates complex financial transactions. In this intricate dance of healthcare delivery, Revenue Cycle Management (RCM) plays a pivotal role in ensuring that quality care is also financially sustainable. This ...Read More

Blogs

The Suite Life: Benefits of an End-to-End RCM Solution

A well-structured revenue cycle is vital to a healthcare organization’s survival. An ineffective revenue cycle management (RCM) strategy will hinder a provider’s profitability and negatively impact the patient experience. These issues are compounded by the ever-shrinking margins with which healthcare providers must contend. Many healthcare organizations are ditching their disjointed ...Read More

Blogs

COVID-19 Considerations for Hospitals: From Surge Planning to Staffing Management to Planning for the Future

During a normal year, most hospitals see fluctuations in patient volumes based on seasonality, national trends and other factors. Never before have ALL our nation’s hospitals seen such a drastic, almost instant decrease in volumes like hospitals are facing right now during the COVID-19 pandemic. It’s uncharted territory – and ...Read More

Blogs

Could the Data Behind Your Denials Be the Key to Improving Your Revenue Cycle?

Big data and its related technology solutions are making a major impact on industries all over the world – driving smart decisions, supporting shifts in strategy, and providing new insights never before uncovered. In an industry like healthcare where the adoption of technology is typically behind the curve or focused ...Read More

Blogs

Why RCM is NOT a Back-Office Function

As healthcare margins continue to shrink and payment reform continues at a snail’s pace, revenue cycle management teams may feel like the hospital’s entire future is dependent on their back-office efforts. Factors like increasing patient responsibility, a shift toward government managed care plans, the proliferation of narrow networks, and risk ...Read More

Blogs

What’s Your 2020 RCM Strategy?

Heading into 2020, having a sound revenue cycle management strategy (RCM) in place is a top priority for hospitals and healthcare organizations trying to navigate the ever-increasing world of healthcare payment. Most healthcare leaders recognize that chasing reimbursement is getting harder than ever. High deductible health plans (HDHP) are increasing ...Read More

Blogs

Five Ways to Think Differently About RCM

Improving your revenue cycle in an era of healthcare reform isn’t easy – but it’s the only way to survive as margins continue to shrink. Looking within your organization for ways to mitigate lost revenue and decrease leakage can lead to greater financial performance. Today’s savvy health systems are thinking ...Read More

Blogs

Top 4 Reasons Your Revenue Cycle is Probably Struggling (and What to Do About It…)

Hospitals have historically operated with fairly lean profit margins, but what happens when those margins continue to shrink? Everyone knows healthcare reform is critical to the future of US hospitals but getting there is proving to be more difficult than many experts anticipated. Straddling the line between fee-for-service models of ...Read More

Blogs

Computer Assisted Coding (CAC) Catches On, Delivering ROI & High Marks for Customer Satisfaction

According to KLAS Research, a leading healthcare IT data and insights company, 94 percent of users who have invested in computer assisted coding would buy it again if given the choice. Based on a research study published in late August, hospitals and health systems are really now starting to realize ...Read More

Blogs

Revenue Cycle Management- An Interdisciplinary Approach

In healthcare, providers at the bedside know the care team goes far beyond the nurse and doctor. Delivering the highest quality care requires an interdisciplinary model where experts are called on as needed, information is shared, collaboration and continuous performance improvement are part of the process. Much like a patient’s ...Read More

Blogs

Outsourcing, Transparency and Consolidation – Latest Trends in Healthcare RCM to Watch

In the world of revenue cycle management, there’s always opportunities for improvement. Margins continue to shrink and healthcare payment reform continues to complicate collecting payments. The uncertainties facing hospitals and revenue cycle management executives are mounting. As leaders strive to enhance their key financial metrics and to prepare for continued ...Read More

Blogs

Rev Up Your Revenue Cycle with AI

With profit margins shrinking and the cost of health care going nowhere but up, operational leaders and consultants throughout the healthcare industry are looking in every nook and cranny to either find ways to cut costs or generate more revenue. With the ongoing need for costly equipment, an expert workforce ...Read More

Blogs

Is It Time for a Billing Operations Check-Up? How to Assess the Health of Your Revenue Cycle

Balancing the competitive landscape that comes with physician practice consolidation combined with population health and the shift to value-based care is a lot to consider for busy hospital physician practices. Add in the constant changes in regulatory guidelines, enhancing the patient experience and most importantly - a continued focus on ...Read More

Blogs

Improving Revenue Cycle Management with Point of Service Collections via Estimation and Eligibility Checking

A significant share of today's hospital and doctor reimbursements now come from patients rather than commercial payers, yet many providers haven't updated their collection practices. As charge amounts on medical bills continue to rise, healthcare providers are increasingly challenged to collect the high deductible amounts owed them. Patients are also ...Read More

Blogs

The Age of Revenue Cycle Management Outsourcing Has Arrived

The RevCycle Intelligence e-newsletter reported recently that 80 percent of hospitals are vetting full revenue cycle management (RCM) outsourcing. The demand to outsource full RCM is up 86 percent from 2015 among hospitals and inpatient organizations. Approximately 80 percent of hospital leaders in a new Black Book survey of 709 ...Read More

Blogs

Revenue Cycle Management Is More Than Just Managing Your Cash Flow

Many healthcare providers are under the impression they can assess their financial health by evaluating cash flow only. However, cash flow is just one factor in revenue cycle management (RCM). To maintain a healthy revenue stream, healthcare providers need to understand the other important metrics that should be calculated and ...Read More

Blogs

Improve Your Revenue Cycle Management

The new value-based care reimbursement environment is changing healthcare revenue cycle management (RCM) and forcing healthcare providers to adopt new and unique RCM strategies. New value-based care models, whatever The Affordable Care Act (ACA) ends up being, and the transition to ICD-10 have added complex challenges to an already burdened ...Read More

Blogs

GeBBS Healthcare Solutions Named to Top 20 Vendor Rankings for Revenue Cycle Management Outsourcing for Fourth Year in a Row

GeBBS Healthcare Solutions, Inc., a leading technology-enabled provider of Revenue Cycle Management (RCM) solutions, announced that it had been named for the fourth year in a row to Black Book™ Market Research’s list of top 20 outsourced revenue cycle management services. GeBBS is ranked in the top twenty for 2017 ...Read More

Blogs

Revenue Cycle Management Is Going to Be Critical – Regardless of Whether We Have TrumpCare or Obamacare

Under pressure to repeal and replace the Affordable Care Act (ACA), aka ObamaCare, Republicans in the House recently passed a new plan titled the American Health Care Act (AHCA), which is being called Trumpcare. The new bill aligns with older conservative views from past healthcare reform debates, but still contains ...Read More

Blogs

Best Practices for Identifying Patients Who Have the Propensity to Pay Before and During POS

With cash flows declining, margins shrinking, and bad debt on the rise, it's more important than ever for healthcare providers to maintain a steady stream of income. If your organization has not implemented an end-to-end, comprehensive best practices revenue cycle management (RCM) solution, it is time to do it! You don’t have ...Read More

Blogs, Business Process Outsourcing (BPO)

Streamline Your Revenue Cycle Management

In their May 6, 2016 newsletter, the AMA stated that: “Patient care is the top priority and a source of passion for physicians, but making sure the business side of your practice is ‘healthy’ also can contribute to better outcomes and patient satisfaction.” We couldn’t agree more! This has been ...Read More

Blogs, Business Process Outsourcing (BPO)

End-to-End Revenue Cycle Management Will Keep You Out of the News

A large Chicago-based health system recently posted an operating loss of about $186 million in 2015, nearly 15 times the amount reported in the previous year. In addition, the system will lay off 250 employees and leave 450 jobs unfilled. The health system has told its bondholders that it will ...Read More

Blogs

Survey Shows About 80 Percent of Hospital CFO’s Consider Outsourcing RCM to be the Best Stop-Gap Measure

By Nitin Thakor, GeBBS President & CEO According to a recent survey reported in Healthcare Finance, 83 percent of hospitals now outsource some accounts receivable and collections, 58 percent of hospitals outsource some contract management, 55 percent of hospitals outsource some denials management and 68 percent of physician groups with ...Read More

Blogs

Uninsured Rate Dips Below 10%

By Nitin Thakor, President & CEO I read with interest this week an article In Modern Healthcare’s e-newsletter titled, “Uninsured rate dips below 10%.” The statistic comes from The Centers for Disease Control and Prevention. In my opinion the most important sentence in the article follows: “The survey also found that 36% ...Read More

Blogs

Why Are Doctors Leaving Private Practice?

According to a recent survey conducted by a major healthcare consulting firm, a growing number of U.S. doctors are leaving private practice for hospital employment. Only one-in-three will remain independent by the end of 2016, according to the survey. The number of independent physicians has declined over the last several ...Read More

Blogs

Ascension Health and Catholic Health Initiatives’ Strategic Interest in RCM

Ascension Health, the nation's largest Catholic and nonprofit health system and a subsidiary of Ascension, showed everyone it recognizes the value of professional outsourced revenue cycle management when it made an offer last week to buy Accretive Health, the beleaguered RCM firm. Ascension is Accretive’s largest customer, representing about half ...Read More

Blogs

Compliance with Credit Balance Resolution Rules Does Not Have to Be Difficult

Credit balances are unavoidable and time-consuming. However, by law, they must be resolved. This activity does not have to be difficult even for already over-worked billing staffs. Professional outsourcing services are available to help with this growing challenge. These services can be customized to fit into your specific workflow and ...Read More

Blogs

Optimizing Patient Access Management in the New Healthcare Consumerism Environment

Healthcare consumerism is going to be an important factor in the new healthcare financial environment where a number of patients are going to be responsible for a portion of their healthcare costs. Empowering healthcare consumers to schedule appointments, receive online statements, and make electronic payments are just a few of ...Read More

Blogs

Industry Mergers Will Necessitate Expert Revenue Cycle Management

The Aetna/Humana acquisition brings together Humana’s growing Medicare Advantage business with Aetna’s diversified portfolio and commercial capabilities - creating a company that serves the most seniors in the Medicare Advantage program and the second-largest managed care company in the United States. What is fueling this merger mania? It is rumored ...Read More

Blogs

Six Benefits and Results of Having a Good Credit Balance Resolution Program

In today’s healthcare environment, credit balances are commonplace. The healthcare industry has a high incidence of credit balances due to multiple parties paying claims. The way that various information technology (IT) systems operate also creates credit balances. Each provider must determine its credit balance strategy -- implement an internal program, ...Read More

Blogs

10 Best Practices for Credit Balance Resolution

Credit balances are simply a part of everyday life in the delivery of healthcare services. Unresolved credit balance accounts can distort the profitability of a healthcare facility and foster financial risks. Researching and correcting posting errors, duplicate payments, overpayments, and misapplied credits are not only time consuming, but also expensive. ...Read More

Blogs

Top 10 Reasons Why You Should Outsource Your Revenue Cycle Activities

In today’s healthcare environment of shrinking reimbursements, due to governmental mandates and Medicare policy changes, the importance of maintaining a healthy revenue cycle is second only to providing the best patient care possible. Without an adequate margin there can be no medical mission. One way to ensure your revenue cycle ...Read More

Blogs

ERAs Are a Win-Win over Paper EOBs

The introduction several years ago of the ERA (Electronic Remittance Advice) created a quantum leap in the healthcare billing arena by providing an improvement to the traditional, paper-based EOBs. Astonishingly, many providers have not taken advantage of this revolutionary change. It has been estimated that even today only 46 percent ...Read More

Blogs

Why Switch to ERAs?

Why Switch to ERAs? In addition to inefficient processing and high administrative costs, paper EOBs contribute to a provider’s struggle with physical storage and document inaccessibility. Rummaging through paper archives as a means to investigate and manage secondary claims does not promote efficiency. Even worse, your medical practice or hospital ...Read More

Blogs

Why ERAs Are More Efficient than EOBs

It is no secret that the healthcare industry is burdened with costly administrative processes. A good example of this are paper explanation of benefits (EOB) forms that have been estimated to cost nearly $18,600 per physician per year in administrative fees. With the availability of tools like the electronic remittance advice ...Read More

Blogs

Optimized Patient Access Management

Patient access management department structures vary among hospitals, but in best-performing facilities, patient access management functions are typically structured with their patient access staff members divided into three areas: pre-service, time of service and post-service to handle the issues unique to these processes at each stage in the continuum of ...Read More

Blogs

Patient Access Management: The New Vanguard in Healthcare

With all of the changes in healthcare reimbursement policies and the influx of high-deductible patients, healthcare providers need to shift their patient access management strategies to meet these new challenges. No longer can the registration process be looked upon as a simplistic completing of forms and getting the patient into ...Read More

Blogs

Healthcare Financial Professionals Seek New Ways to Rescue Revenue Cycle Management

Business pressures are forcing healthcare financial managers to re-evaluate their present revenue cycle management solutions, and look to the next generation of solutions for answers to their financial woes.Shifting payment models, new regulations and healthcare reform are forcing healthcare leaders to redirect previously launched budgets, priorities and strategic plans to ...Read More

Blogs

The Role of Predictive Analytics in Revenue Cycle Management

Healthcare billing service companies provide vital services to the medical industry; both hospitals and physician groups need their critical services. However, these billing service companies often experience their own operational pains in the form of ever-changing governmental regulations that make medical billing confusing and complicated. Other reimbursement mandates and collection ...Read More

Blogs

The Unknown Unknowns: What you don’t know can hurt you!

This is a first in a series blogs that we believe presents an excellent strategic approach for achieving every healthcare provider’s end-goal during the transition to ICD-10 -- ensuring there is NO reduction or stoppage of their revenue stream. Our mission is to see a stronger U.S. healthcare delivery system come ...Read More

Blogs

Preparation is STILL the key for ICD-10

There is an upside to this second delay for ICD-10; we should use this time wisely! There will now be NO excuse for not being prepared in October 2015. This additional window of time presents an opportunity for U.S. healthcare providers to spend this period preparing for the significant impact ...Read More

Blogs

Strategies for Managing the Increased Self-pay Revenue Stream

In an earlier blog, we admonished healthcare providers not to let their revenue cycles be swamped by the rising number of new self-pay patients entering the healthcare delivery stream. Under the Affordable Care Act (ACA), the self-pay portion of a healthcare provider’s receivables is going to increase significantly. According to ...Read More

Blogs

Managing New Patient Volume Driven By The Affordable Care Act

The good news about the Affordable Care Act (ACA) is that more patients should have insurance coverage and seek care from physicians. The bad news is that some practices may need to turn away patients due to the fact that they are "closed" to new patients or patients will have ...Read More

Blogs

Hospital RCM May See More Bad Debt Due To ACA

Hospital Revenue Cycle Management is about to be challenged by an unintended consequence of the Affordable Care Act (ACA). Even as hospitals are set to see an influx of newly insured patients, industry watchers warn that bad debt may become an even larger problem under theACA, putting more pressure on ...Read More

Blogs

Big Data: Solution or Mistake for Healthcare Revenue Cycle Management?

Big data is the hot buzz word right now in healthcare IT. The constant news barrage about the value of big data and business analytics/intelligence (BI) is forcing healthcare IT departments to take notice and determine what value big data really has for their facility. As this terminology has evolved ...Read More

Blogs

Avoid a Shutdown of Your Revenue Cycle during the Transition to ICD-10

Early test results reported in Becker’s Hospital Review from data gathered by HIMSS and WEDI indicate that only 63% of ICD-10 documentation was accurately coded. In addition, coders averaged only two medical records per hour, compared with four per hour under ICD-9, which equates to a 50 percent drop in ...Read More

Blogs

Weak Revenue Cycle Management Can Spawn Many Problems

The effects of weak revenue cycle management can go well beyond just financial challenges. Revenue problems can also lead to patient dissatisfaction challenges, and this can lead to reimbursement problems. Why do so many hospitals experience problems with their revenue cycle? A good explanation is that busy healthcare providers are ...Read More

Blogs

3 Reasons You Don’t Need To Outsource Your Revenue Cycle Management Processes

As a healthcare provider, you do not need to outsource any of your revenue cycle management activities, provided that the following are all true: 1. All of your revenue cycle activities are completely efficient, productive and up-to-date! 2. You are totally certain that your facility will not be hit by ...Read More

Blogs

Don’t Let the Transition to ICD-10 “Stall Out” Your Revenue Cycle!

One of the worst things that can happen to an airplane pilot is to suffer a stall; that means -- more than likely -- a crash is imminent. Without proper planning, your revenue cycle is headed for a stall after the October 1, 2014 ICD-10 transition deadline. It’s critical that ...Read More

Blogs

A Primer for Managing the ICD-10 Transition

The healthcare industry is justifiably apprehensive about the impending transition from ICD-9 to ICD-10. Between claim denials from incorrect coding and coders taking more time to deal with the new system, billing is more than likely to slow down considerably. However, The Centers for Medicare and Medicaid (CMS) officials are ...Read More

Blogs

Docs Urged to Start Prepping Now for ICD-10

We have been warning about the importance of preparing for the change to ICD-10. Here is a another take on that same message from MedPage Today.Read More

Blogs

A Tool that Can Aid in Your ICD-10 Transition

Seldom has any mandate or compliance regulation had the potential to disrupt, so severely, the revenue stream of almost every healthcare provider. The transition to ICD-10 is going to require one of the most intense and longest learning curves in the history of U.S. healthcare. As everyone is aware, proper ...Read More

Blogs

5 Practical Ideas to Aid in Your ICD-10 Transition

Everyone in healthcare, who deals with coding, is keenly aware of the October 2014 deadline that is looming over the industry. Some are facing it head-on; others seem to be ignoring it, hoping it will just go away. No matter where you stand on the timeline or on your journey ...Read More

Blogs

How Can You Define Success with Your BPO Provider?

The first step in determining your success with a BPO provider is to define a clear set of objectives that you expect them to meet. If you can’t define what you expect them to do, you can’t measure it. When setting your expected objectives for your BPO engagement, make sure ...Read More

Blogs

5 Key Strategies for Optimizing Revenue Cycle Performance

In today’s healthcare economic climate, the majority of healthcare providers are acutely interested in optimizing their revenue cycle performance. The first aspect to be considered is -- where is the best place to start? It is also important to remember that revenue cycle performance improvement is a journey, not a ...Read More

Blogs

Top 5 Reasons Why ICD-10 Implementation Does Matter!

The October 1, 2014 ICD-10 implementation date is just around the corner. This will be one of the most comprehensive projects healthcare has ever faced with far-reaching impacts throughout our delivery system. Here are our Top 5 Reasons why ICD-10 does matter. 1. ICD-10 will have a positive impact on ...Read More

Blogs, Knowledge Process Outsourcing (KPO)

Trends in Healthcare Billing: Healthcare Revenue Cycle Management and Global Offshore Medical Billing

Today’s healthcare delivery system is at the center of many political and social debates. The ongoing focus of these debates is often how the healthcare financial process is handled, and it is one of the many problems frustrating professionals in the billing department of hospitals and medical facilities. Each year, ...Read More

Blogs

GeBBS Healthcare Solutions to Showcase Coding Workflow & Automation Platform at RBMA 2013 Radiology Summit

NGLEWOOD CLIFFS, NJ, May 08, 2013 -- GeBBS Healthcare Solutions, Inc., an industry leader in healthcare revenue cycle management outsourcing solutions, will be demonstrating its state-of-the-art coding platform, iCode, at the Radiology Business Management Association (RBMA) 2013 Radiology Summit, May 19-22 in Colorado Springs, Colorado. iCode, a SaaS-based coding platform, ...Read More

Blogs, Knowledge Process Outsourcing (KPO)

The Impact of Accountable Care on Your Revenue Cycle

Becoming an accountable care organization (ACO) requires that your facility adopt a completely new point of view when it comes to revenue cycle management. The goal of an ACO is to reduce costs by improving the quality of care provided to patients. Providers are encouraged to and boost preventative efforts ...Read More

Blogs

Revenue Cycle Management (RCM) and Best Practices Adoption

For physicians, getting paid properly for the services they provide is extremely important. Between constantly changing coding rules and dozens of insurance contracts -- each with its own coverage, billing and payment terms -- many medical practices find it difficult to keep up. As a result, physicians too often are ...Read More

Blogs

GeBBS | VP of Human Resources Receives An Award | The Women Super Achiever Category

GeBBS Healthcare Solutions, Inc., an industry leader in healthcare revenue cycle management (RCM) outsourcing solutions, announced recently that Pooja Mehendale, the company’s Vice President of Human Resources, has received an Award in the Women Super Achiever Category from the Employer Branding Institute. The award was bestowed on Ms. Mehendale for ...Read More

Blogs

How To Heal Merger Maladies with Outsourcing | GeBBS

When you are one of the largest medical billing services companies in the Southwest U.S. and your mission is to help other physician groups solve their staffing and financial challenges, how do you react when you are faced with these very same issues? You take the advice of the old ...Read More

Blogs

Keys To Revenue Cycle Management Success | Why Outsource?

Outsourcing Solution Saves Healthcare Provider from Smothering under Acquired Accounts Receivable (A/R) Avalanche As an already large medical group with 4,200+ employed and contracted physicians, serving over 750,000 patients, what do you do, when overnight through an acquisition, you gain 100 more doctors and 80,000 additional covered lives? How ...Read More

Blogs

How To Address Healthcare Revenue Billing Issues | GeBBS

Long Island Radiology Practice Utilizes GeBBS Healthcare Solutions to Address Billing Issues and Develop Enhanced Practice Billing Guidelines On January 20, 1953, Dwight D. Eisenhower succeeded Harry S. Truman as the 34th President of the United States. Later that year, Walt Disney’s feature film, “Peter Pan,” premiered, and the coronation ...Read More

Blogs, HIPAA

Healthcare Solutions in India | The Globalization of Healthcare Delivery

Due to technology advances and process virtualization, the healthcare industry now has access to the highest-quality/lowest-cost services anywhere in the world, creating a unique opportunity to transform care delivery in the U.S. and around the world. Healthcare providers can now leverage global supply chains and operating systems for high quality ...Read More

Blogs

How To Fix The Entire Revenue Cycle Management Process

There has always been an interest in Revenue Cycle Management (RCM) because healthcare organizations continually face delays in receiving payments that can often be measured in months. Uncertainty surrounds most of the healthcare payment process, and providers are looking to revenue cycle optimization as one way to regain control. Healthcare ...Read More

Blogs

How To Reduce Costs & Improve Quality | Revenue Cycle Management

According to a recent healthcare technology research study, U.S. Revenue Cycle Management by HIMSS, focused on the revenue cycle management (RCM) marketplace, positive changes are predicted in the attitudes of CEOs, CFOs and IT directors toward the efficacy of RCM to improve a healthcare facility’s financial operation. The study included nearly ...Read More

Blogs

Revenue Cycle Management (RCM) Assistance Comes in Many Forms

When it comes to revenue cycle management (RCM), you need an outsourced medical billing partner that understands all aspect and nuances of the billing process. Recently, a large radiology billing services company, located in the Northeast U.S., faced a unique billing challenge. The company had been in business for more ...Read More

Blogs

Reward Yourself By Getting Legacy Accounts Receivable under Control

Today’s healthcare professionals, who are responsible for revenue cycle management, must feel like fire fighters who while fighting the main blaze must deal with smaller fires that keep breaking out all around them. The challenge these healthcare professionals face is how to ensure all present billing gets accomplished and collected, ...Read More

Blogs

5 New Ways To Solve Healthcare Revenue Cycle Management Problems

The healthcare revenue cycle management (RCM) is just beginning to feel the effects of consumerism as employers focus on containing healthcare costs. This means that today’s growing financial pressures on healthcare organizations will continue to escalate as consumers bear an increased financial responsibility for their healthcare costs. Hospitals are under ...Read More

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Results for Revenue Cycle Management (RCM)

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