The Precise Role of Optimized Billing in a Complete RCM Process
/ Posted in GeBBS Healthcare Solutions, Inc.Contrary to many opinions, revenue cycle management (RCM) is not solely a function of billing. Furthermore, the two terms, RCM and billing, are not interchangeable. The focus on revenue here devalues the fact that it is a cycle with multiple contributing elements. That said, billing is certainly a core function that could use some help …
Mitigating Error in Record, Revenue and Health Information Management
/ Posted in GeBBS Healthcare Solutions, Inc.Top of mind for most health system operations teams is the optimization of revenue cycle management (RCM). This critical starting point serves as a lynchpin for the success and profitability of the organization, helping to track and predict cash flow, process claims, and propel the business forward. But RCM affects more than just the bottom …
Powering the Patient Experience Through Front-End RCM
/ Posted in GeBBS Healthcare Solutions, Inc.When reflecting on revenue cycle management optimization across health systems, much of the conversation revolves around internal processes and staff. Often overlooked is the critical role that patients play in revenue generation and claims processing. The path to successful claims management starts with the information collected during patient intake. If that data is inaccurate or …
Revolutionary Robots: How RPA Can Take RCM to a New Level
/ Posted in GeBBS Healthcare Solutions, Inc.Robots and artificial intelligence (AI) have long been features of sci-fi lore that intrigued and engaged our imaginations. But while it might seem like a drastic leap to envision AI playing a critical role in health system operations, that day has already arrived. Robotic process automation (RPA) challenges organizational leaders and stakeholders to think beyond …
How Improved Patient Access Solutions and the Patient Experience Produce RCM Success
/ Posted in GeBBS Healthcare Solutions, Inc.In most healthcare organizations, such as hospitals and nursing homes, medical billing and collection staff have among the highest rates of turnover. However, these employees are crucial to the continued operation and success of any healthcare business or medical facility. These employees, often called the patient access staff, do not always get the opportunity to …
How AI, NLP Technologies Automate Risk Adjustment Processes
/ Posted in GeBBS Healthcare Solutions, Inc.Even before the COVID-19 pandemic emerged last year, health care payers were facing numerous challenges. From rising costs and uncertainty about the Affordable Care Act (ACA) to struggles with systems integration, alignment of incentives with providers and consumer engagement and education, these entities were faced with attempting to improve member health while addressing an array …
The Importance of Automated RCM Solutions for Health Systems
/ Posted in GeBBS Healthcare Solutions, Inc.Hospitals and other players in the health care system don’t need to be told twice about the impact of the coronavirus on operations and practice management. What many administration executives may have missed, however, is just how quickly facilities and systems transitioned to new technologies and automation to soften the damaging operational impact of the …
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 …