Filter Dirty Data From Your RCM System for Clean Claims
/ Posted in Data Analytics, Revenue Cycle Management (RCM)Dirty data is a barbed thorn in the side of many healthcare organizations. Inaccurate or incomplete data can create an array of problems during the revenue cycle management (RCM) process. To avoid these issues, providers must purge dirty data from their RCM systems. This may sound easy enough, but unfortunately it’s often easier said than …
The Suite Life: Benefits of an End-to-End RCM Solution
/ Posted in Revenue Cycle Management (RCM)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 revenue cycle programs for end-to-end …
Crack the Codes: Increase Revenue with Improved Medical Coding
/ Posted in Health Information Management (HIM)Healthcare claim-denial rates have been on the rise in recent years, and the trend accelerated while hospitals and other medical providers contended with the effects of the coronavirus pandemic. In a recent survey of hospital executives, about one-third stated their average denial rate was more than 10%. Another 16% of hospital executives said their facilities’ …
How Outsourcing Healthcare RCM Can Help Reduce Staff Burnout
/ Posted in Revenue Cycle Management (RCM)Did you know that between March and July 2021, close to 19 million people in the healthcare sector quit their jobs? Yes, it seems the Great Resignation is now upon us, adding to the long list of changes to how differently we all do business since the pandemic era has begun. Even before COVID-19 emerged, …
Why People Are Still Important to Automated RCM
/ Posted in Revenue Cycle Management (RCM)The healthcare industry is experiencing a massive cultural shift. Organizations across the globe are transitioning away from outdated legacy systems and are upgrading to cutting-edge automated revenue cycle management (RCM) solutions. These technologies promise to improve the patient care experience, increase the efficiency of key billing processes, and streamline the entire revenue cycle. Despite the …
How Increasing Patient Volumes and Expanded Outsourcing Services Are Fueling RCM Market Growth
/ Posted in Revenue Cycle Management (RCM)Over the last few years, the global revenue cycle management market has grown substantially, creating new opportunities at every turn. Revenue cycle management (RCM) encompasses the various components of the financial process for patients receiving medical care. RCM technology tracks every aspect of the patient care episode, from the moment they check in to when …
Revenue Cycle Management Measures to Increase Productivity
/ Posted in GeBBS Healthcare Solutions, Inc., Revenue Cycle Management (RCM)Due to the complexity of the modern medical system, quality revenue cycle management (RCM) technologies are essential to the financial success of healthcare organizations. While these RCM solutions are quickly becoming the norm, many providers are still not fully measuring important aspects of the revenue cycle management process. Instead, they rely on generic quota-based metrics …
Rising Hospital Claims Denial Rates and the Case for Better Claims Management
/ Posted in GeBBS Healthcare Solutions, Inc., Revenue Cycle Management (RCM)Processing medical claims can be a daunting task. Still, it is an essential part of the healthcare revenue management cycle. While most claims are accepted and processed without exception, denials occur, and they are rising. Claims denials have various causes but once received, if mishandled, they could spell disaster for providers and healthcare organizations. Thus, …
How COVID-19 has Negatively Impacted Hospital Margins
/ Posted in Extended Business Office Solutions (EBO), GeBBS Healthcare Solutions, Inc.Last year, hospitals, health systems, physician practices, and other healthcare providers in the United States faced unprecedented challenges, both operationally and financially. Even with the rapid increase in telehealth use and government relief funding in the form of the Coronavirus Aid, Relief and Economic Security Act (CARES Act), as well as the Paycheck Protection Program, …
Mitigating the Fixed Cost Dilemma in RCM Through Technology and Outsourcing
/ Posted in GeBBS Healthcare Solutions, Inc., Revenue Cycle Management (RCM)So much of revenue cycle management optimization is about reducing errors and streamlining processes to increase profits and track a more accurate projection of cash flow for a hospital system. But with costs and competition rising, there are other factors for executives to consider for a more complete RCM approach. Among the most compelling and …