5 Ways Automation Can Help Hospitals Achieve Clinical, Financial and Operational Success
/ Posted in GeBBS Healthcare Solutions, Inc.The United States spends more than any other country on medical research and development. Unfortunately, it also expends nearly twice as much as other wealthy nations on healthcare, primarily due to higher prices for medications and healthcare professionals, as well as inflated administration costs. Healthcare providers across the U.S. are starting to employ automation to …
Can Outsourcing Save Struggling Hospitals?
/ Posted in GeBBS Healthcare Solutions, Inc.Anyone working in healthcare finance knows all too well the struggles US hospitals have been facing for years, only recently intensified by the COVID-19 pandemic. In fact, a recent report issued by Kaufman Hall indicates that at least 39% of hospitals are likely to experience negative operating margins in 2021 – a number that could …
The Triple Aim & Value-Based Care – Improving Quality, Decreasing Costs, and Improving the Patient Experience
/ Posted in GeBBS Healthcare Solutions, Inc.While the US healthcare system continues to make extraordinary advancements in medical innovations, such as new treatments, devices, and therapies – when it comes to the operational side of things, we’ve got a lot of work to do to catch up with other developed nations. Our healthcare spending per capita is more than $12,000 a …
Why Speed, Cost, & Accuracy Are of Equal Importance for Your Revenue Cycle
/ Posted in GeBBS Healthcare Solutions, Inc.Most healthcare executives will agree that the revenue cycle for large health systems is the most complex of all industries. From scheduling to collections and every step in between, the healthcare revenue cycle is ripe with opportunities for improvement. Focusing on three key areas – speed, cost, and accuracy – is the key to improving …
When it Comes to Revenue Cycle, Think: Automate, Innovate and Transform
/ Posted in GeBBS Healthcare Solutions, Inc.Today’s healthcare systems are facing decreasing reimbursement, new payment models, regulatory changes and more. With shrinking margins and an increasingly complex revenue cycle, the time to automate, innovate and transform is now. It’s the trifecta, and the key to future success for healthcare organizations. Automation already plays a key role in various area of the …
Data, Data and More Data – Why More Data Can Improve Your Bottom Line
/ Posted in GeBBS Healthcare Solutions, Inc.There’s an old adage that says “Less is more,” but when it comes to data in healthcare, this generally doesn’t ring true. For risk adjustment and HEDIS programs, most payers will agree that more data, and not less, is critical to ensuring fair and accurate reimbursement. That’s why there’s been recent backlash in response to …
Preventing and Addressing the Many Dangers of Denials
/ Posted in GeBBS Healthcare Solutions, Inc.Hospitals and health systems have been managing shrinking profit margins for more than a decade. This past year, adding COVID-19 and the financial and operational impacts that come with it have made it more critical than ever for providers to focus on effective revenue cycle management. Yet, denials and denial write-offs continue to increase – …
Don’t Let Underpayments Get You (or Your Revenue) Down
/ Posted in GeBBS Healthcare Solutions, Inc.Healthcare is well-known for the complexities and red tape associated with billing and insurance. On each the provider, payer and patient side, this is due to a wide range of complex, multifaceted factors, including complicated documentation and coding guidelines, billing problems and complex contract terms. There’s often a back-and-forth dance between all three parties to …
The Risky Business of Risk Adjustment Coding and Auditing
/ Posted in GeBBS Healthcare Solutions, Inc.The world of risk adjustment is tricky – but critical to ensuring payers are fairly compensated for covering patients who are more likely to incur high healthcare costs. With risk adjustment, government programs such as Medicare and Medicaid will adjust the revenue provided to a health plan/payer based on the health of those covered. …
Top Strategies for Improving Your Medical Coding Audits
/ Posted in GeBBS Healthcare Solutions, Inc.The one thing that never changes in healthcare is… change. In a world that’s constantly advancing, change is inevitable in the medical environment at every turn. Pandemics happen. Medical codes are added. Hospital policies change. Industry payment models change. Regulatory requirements change. All of this comes at a great burden to health systems whose profit …