DOTmed Home MRI Oncology Ultrasound Molecular Imaging X-Ray Cardiology Health IT Business Affairs
News Home Parts & Service Operating Room CT Women's Health Proton Therapy Endoscopy HTMs Mobile Imaging
SEARCH
Current Location:
>
> This Story


Log in or Register to rate this News Story
Forward Printable StoryPrint Comment
advertisement

 

advertisement

 

Health IT Homepage

Sectra showcases work-in-progress, AI functionality at RSNA Gives radiologist greater control over findings

AMA survey: Radiologists top users of telemedicine for patient interactions First nationally representative estimates on usage

Ramsoft partners with QliqSOFT Enables secure messaging of information on mobiles among doctors and patients

Agfa showcases rad/fluoro DR 800 system at RSNA Enhance patient and operator comfort

Amazon Comprehend Medical to bring natural language processing to healthcare A new HIPAA-eligible machine learning service

EBM Technologies brings PACS image viewing to iPad Pro at RSNA System works with any PACS, enabling FDA-cleared remote reading

Arterys touts cloud-native platform and regulatory approval in 98 countries AI capabilities with 'unmatched' security

Carestream unveils interactive multimedia and workflow enhancements Enhancing collaboration and productivity among providers and patients

Nuance launches AI Marketplace expansion with 40+ AI radiology 'app developer' network Also unveils cloud-based version of PowerScribe One reporting platform

University of Utah Health among first to leverage Philips Illumeo PACS with adaptive intelligence On display at RSNA

'Real-time' actionable data analytics help hospitals decrease denial rates

By Jonathan Farr

The competitive climate for hospitals is at a fever pitch, with mergers and acquisitions adding further complexities to the marketplace.

This is not a time for simply resting on past achievements or a reputation for touting service lines: astute leaders recognize that they must optimize every level of clinical, operational and financial performance in order to capture and retain market share and meet payer/employer demands for value-based care.

Story Continues Below Advertisement

RamSoft PowerServer™ RIS/PACS - Enabling Efficient Diagnostic Imaging

RamSoft's PowerServer™ RIS/PACS is an intuitive, single database application that enables healthcare practices to operate diagnostic imaging more efficiently than ever before.Why is this important? Click to find out.



This is hardly a time to falter with the revenue cycle management process or risk claim denials that threaten the financial stability of the health care organization. Annual losses from denial write-offs can be as high as five percent. Too often, hospital leaders see up to 15 to 20 percent of initial denials with the first billing, and must rework or appeal one out of every five claims, leading to administrative costs and inefficiency.

These issues really impact not-for-profit hospitals, which struggle when the barrage of denials begins to strain limited resources. In fact, reworking denials can prevent these organizations from achieving success within their revenue cycle management, often to the extent of compromising the quality of care they deliver. For-profit institutions are not exempt from these problems, although the pressures to optimize RCM are ever-present.

Historically, finance and medical care have operated in silos as the natural order of the fee-for-service environment. Bundled payments, accountable care organizations and other reimbursement models, however, are changing this paradigm. Today, hospitals must strike a balance between the care provided by physicians and payer reimbursement.

While not-for-profit hospitals can learn from the for-profit sector and seek new opportunities for maximizing revenue and enhancing performance, for-profit institutions can always benefit from fresh approaches and innovations to optimize revenue cycle management.

Revenue cycle management in the real world
Let’s look at a real-world scenario in which a large not-for-profit hospital system located in a largely urban area in the southeast United States sought a Revenue Cycle Management auditing (RCM) solution to effectively address challenges related to denials management, appeals and Medicare local market rules.

The overall goal was to ensure clinical and operational excellence while supporting the financial viability of the organization. The hospital had undergone significant expansion over the past few years, bringing massive sets of disparate data to be reconciled and reviewed, and adding significant complexity to RCM processes throughout the enterprise.
  Pages: 1 - 2 - 3 >>

Health IT Homepage


You Must Be Logged In To Post A Comment

Advertise
Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Directory
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Requests
Gold Service Dealer Program
Receive RFP/PS
Requests
Healthcare Providers
See all
HCP Tools
Jobs/Training
Find/Fill
A Job
Parts Hunter +EasyPay
Get Parts
Quotes
Recently Certified
View Recently
Certified Users
Recently Rated
View Recently
Certified Users
Rental Central
Rent Equipment
For Less
Sell Equipment/Parts
Get The
Most Money
Service Technicians Forum
Find Help
And Advice
Simple RFP
Get Equipment
Quotes
Virtual Trade Show
Find Service
For Equipment
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2018 DOTmed.com, Inc.
ALL RIGHTS RESERVED