Denial prevention and effective denial management strategies are key to maximizing the revenue potential for the healthcare services you provide to your patients.
Jason Driskell, Vice President of Revenue Cycle for Lakeland Regional Health - Florida, recently recorded a podcast with Becker's Hospital Review where he discusses the importance of revenue integrity, and how to achieve it by partnering with the right vendor. Jason also shares what performance improvement results he has seen from his ...
If 2020 was a year of financial crisis, then 2021 is shaping up to be the year of financial resilience – and healthcare providers are nothing if not resilient. After last year’s estimated $323 billion financial loss, bouncing back is no small endeavor for hospitals. The winter COVID-19 surge has caused expenses to soar, with labor and supply ...
After a fairly predictable start, 2020’s unforeseen turn into a yearlong (and counting) pandemic created a torrent of financial and clinical challenges for hospitals and health systems. Reduced volume, increasing care complexities and an uncertain economy still remain in 2021 as hospitals continue working toward financial recovery. It won’t be ...
COVID-19 wreaked havoc with the healthcare industry; hospitals and health systems have lost a collective $36.6 billion over the past four months. Recovering from such a major financial hit can seem n insurmountable, however, by optimizing the middle of your revenue cycle, you can identify opportunities and begin to see some immediate revenue ...
For multiple years in a row, chief executive officers (CEOs) participating in the American College of Healthcare Executives’ annual survey ranked financial challenges as the number one issue facing hospitals.[1] With sound revenue cycle management and, in turn, revenue integrity being essential to ...
What matters more: how things work or the outcomes they produce? Take Tiger Woods, for example. If you’re like most of us, you don’t know or care about the technical aspects of his golf game, but you are impressed that he’s won 14 major championships and is one of the world’s highest paid athletes.
Try to imagine what it would be like if all claims were clean, compliant and processed without human or technological intervention. Hold that thought a little longer and you’ll see health systems getting accurate reimbursement for the care they provide, and physicians focusing solely on patients. This utopia seems a long way off, but ...
It’s no secret that one of the most challenging aspects in revenue cycle management is keeping track of the numerous complexities associated with managed care contracts. Getting it right (or missing the opportunity) can greatly impact revenue integrity initiatives and financial performance—both positively and negatively.
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