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By scoring self-pay accounts and prioritizing or segmenting them using expected cash value and payment behavior, hospital business staff can more effectively work these accounts—and yield higher collections.
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Using technology to improve scheduling, eligibility/insurance verification, and financial counseling processes to better serve patients led to greater patient satisfaction and increased revenue for UPMC.
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Once in a while, revenue cycle change is akin to a new beginning. Saint Francis Hospital in Tulsa, Okla., had that experience.
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Hospitals and health systems should take preventive measures now to prepare for lower payments and changes under reform.
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Learn the crucial policies a physician practice should have in place for revenue cycle management.
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CFOs should take the lead and pursue a greater strategic role in helping their boards deliberate on compensation issues.
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Hospitals can take four key steps to prepare for the challenges of Recovery Audit Contractor audit requests.
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Hospitals should proactively address property tax exemption issues in light of the adjustments to tax exemption requirements in the healthcare reform law and recent legal cases.
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Forward-looking hospitals are seeking ways to better assess revenue cycle performance. HFMA recently launched MAP, a comprehensive revenue cycle strategy, to help hospitals meet this need.
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Calculating the yield of revenue cycle initiatives can help hospitals better determine the value of these initiatives—and where to focus hospital resources.
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