Category: Revenue Cycle Management

3 Tools to Boost Engagement with Patients

3 Tools to Boost Engagement with Patients

Adopting the right technology can help allocate or reallocate time from physicians and staff to focus on patient engagement and satisfaction. With all the pressures on physician time these days, it’s no wonder some doctors struggle to engage patients fully in their medical care, overall health and future well-being. Patient engagement efforts compete with all […]
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COVID-19-Booster-Campaign-Saves-$44B

COVID-19 Booster Campaign Saves $44B in Healthcare Spending

In addition to healthcare spending reductions, Commonwealth Fund also reports that a COVID-19 booster vaccination campaign would also prevent over 75K deaths and 745K hospitalizations. A COVID-19 boost vaccination campaign could seriously impact potential healthcare spending this fall and winter, according to a new analysis from the Commonwealth Fund. The private think tank recently examined […]
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Value-based-care-catching-up-to-FFS

Value-Based Care Catching up to Fee-For-Service

Outcomes-based models are spreading, but fee-for-service still dominates payment landscape. Is value-based care having a moment? Health care policy experts and institutions have long agreed that fee-for-service (FFS) medicine is wasteful, outmoded and at least partially responsible for the U.S. spending far more than peer nations on health care, but with outcomes that are no […]
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Hospital-Expenses-Since-2016

Hospital Expenses Have Increased 23 Percent Since 2016

Supply chain issues, medication costs, and labor challenges sparked by the COVID-19 pandemic have contributed to the spiking hospital expenses. Hospital expenses have increased 23 percent since 2016, a spike researchers attributed to continuous COVID-19 challenges, according to a recent analysis. By analyzing American Hospital Association data, investigators noticed hospital expenses increased 47 percent in 2020when […]
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Automation-for-Revenue-Cycle-Operations

Automating Revenue Cycle Operations Reduces Cost-to-Collect

Health systems that used automation for revenue cycle operations had an average cost-to-collect of 3.51 percent compared to 3.74 percent for those that did not use automation. Using automation for revenue cycle operations could lower hospital and health systems’ cost-to-collect by 0.25 percent, according to a survey from the Healthcare Financial Management Association (HFMA). The […]
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Medicare-Outpatient-Payment-Updates-for-CY-2023

Medicare Outpatient Payment Updates for CY 2023

The proposed outpatient payment updates for 2023, including the 2.7 percent reimbursement increase, do not reflect the inflationary environment in which hospitals are operating. When commenting on the Medicare Hospital Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Center (ASC) Payment System proposed rule for calendar year (CY) 2023, the American Hospital Association (AHA) supported […]
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Low-Reimbursement-Rates-Lead-to-Rural-Hospital-Closures

Low Reimbursement Rates Lead to Rural Hospital Closures

Low reimbursement rates, staffing shortages, low patient volumes, and regulatory barriers are some of the root causes of rural hospital closures, the American Hospital Association (AHA) explains in a new report. The report “Rural Hospital Closures Threaten Access: Solutions to Preserve Care in Local Communities” highlights the variety of causes behind rural hospital closures, which […]
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2023-Medicare-Physician-Fee-Schedule

2023 Medicare Physician Fee Schedule on Unsustainable Cuts

Lower Medicare payments to physicians will lead to patient care by reducing access to services, according to medical groups commenting on the 2023 Medicare Physician Fee Schedule (PFS). In July, the U.S. Centers for Medicare & Medicaid Services (CMS) announced the 2023 proposed rule and physician groups have been responding, including with detailed comments published […]
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Physician-Practice-Costs-Grew-20

Physician Practice Costs Grew 20% Per Claim

Following a private equity acquisition, physician practices saw a 20.2 percent increase in charges per claim, an 11 percent raise in the allowed amount per claim, and a 37.9 percent increase in new patient visits. Private equity acquisition of physician practices in dermatology, gastroenterology, and ophthalmology was associated with increased healthcare spending and utilization, according […]
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