Category: Revenue Cycle Management

High-time-to-ponder-over-a-new-Outsourcing-Model-in-Healthcare

The Rise of Hybrid Global Outsourcing Models in Healthcare

Given labor shortages and financial constraints, fully managed hybrid outsourcing solutions are increasingly gaining prominence. Hospitals and provider organizations grapple with staffing deficiencies across various departments, with the revenue cycle facing considerable strain. A recent survey among medical group leaders highlighted coders as the most challenging role to fill, closely followed by billers, schedulers, authorization […]
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Understanding ABNs for Providers and Medicare Beneficiaries

The Advance Beneficiary Notice (ABN), Form CMS-R-131, issued by the Centers for Medicare & Medicaid Services (CMS), holds immense importance for healthcare providers, revenue cycle teams, and Medicare beneficiaries. What is an ABN (Advance Beneficiary Notice)? An ABN, formally extended to Medicare Fee-for-Service (FFS) beneficiaries, precedes outpatient services like labs, imaging, physical therapy, or observation. […]
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Unveiling the Top 5 Healthcare Revenue Cycle KPIs

Key Performance Indicators (KPIs) within the healthcare revenue cycle play a vital role in monitoring financial well-being and optimizing revenue capture for providers. Understanding these metrics is crucial for healthcare organizations aiming to sustain access to high-quality, cost-effective care—an essential aspect of the evolving landscape of value-based care and healthcare consumerism. These KPIs offer critical […]
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2024 Medicare Physician Fee Schedule: Changes, Impact, and Updates

The 2024 Medicare Physician Fee Schedule, recently released by CMS, confirms the anticipated reduction in payments for physicians. The finalized conversion factor of $32.7442 represents a 3.4% decrease from the 2023 rates, which themselves saw a 2% reduction from 2022. In contrast, the Medicare Economic Index, a gauge of practice cost inflation, surged to 4.6%, […]
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CMS Final Rule 2023: Impact on Physician Reimbursement and Healthcare Facilities

Despite the American Medical Association’s (AMA) strong protests regarding a 26 percent decrease in physician reimbursement from 2001 to 2023, it seems that these objections have not been heeded. On November 2, the Centers for Medicare & Medicaid Services (CMS) announced their final policy changes, which include significant reductions in reimbursement for the upcoming year. […]
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Four Common Forms of Virtual Care Reimbursed in Half of US States

According to a recent report, 25 states now provide reimbursement for video, store-and-forward, and audio-only telehealth, as well as remote patient monitoring through Medicaid. Although every state and Washington, D.C. include some form of live video-based telehealth in their Medicaid programs, only 25 of them also offer Medicaid reimbursement for live video, store-and-forward telehealth, remote […]
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How does autonomous coding improve revenue cycle?

A survey revealed that healthcare organizations anticipate that autonomous coding will accelerate the revenue cycle process and enhance coding accuracy. Although autonomous coding has the potential to streamline revenue cycle processes and alleviate administrative burdens, a majority of healthcare finance leaders surveyed either lack familiarity with it or harbor reservations about fully trusting this automated […]
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Decline in Top Star Ratings: A Closer Look at MA, Part D Plans in 2024

In 2024, approximately 42% of Medicare Advantage plans offering prescription drug coverage are projected to achieve four or more stars, a decrease from the 51% recorded this year and the 68% in 2022, according to data released by the CMS on Friday. The five-star rating system, established by the Affordable Care Act, serves to assist […]
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