If you’re like most organizations, you’re probably neck deep in this year’s projects already and are so busy that’s it tough to achieve your goals in a day, a week, or even in a month. On one hand, time is of the essence, deadlines must be met, and you want to do an outstanding job, but you just can’t do everything yourself and may need help in driving your goals to a successful outcome. While there is stress, there are some days when everything is going smoothly, you are on top of your game, and knocking things off your to-do list. On the other hand, it’s inevitable to have days that seem like nothing gets done and the number of tasks continues to grow. So how do you convert the noise into success?
Hayes' Healthcare Blog
Practice Management Systems are evolving constantly in response to regulatory changes in healthcare and improvements in technology. It is not uncommon for organizations to rush into the purchasing of a new system thinking it will be an immediate fix to a number problems they might be currently experiencing—from workflow to revenue issues. Sometimes organizations may find out after the fact that their issues stem from business management inefficiencies, workflow inefficiencies, or a lack of monitoring of key revenue data. Are you planning on implementing a new practice management system?
There’s a lot of confusion about coding right now and for good reason. Beginning a few weeks ago, June 1st to be exact, many insurance carriers began accepting and processing preauthorization requests containing ICD-10 codes for services scheduled on or after October 1st - the upcoming mandated ICD-10 compliance date. As with ICD-9 codes today, providers and suppliers are still required to report all characters of a valid ICD-10 code. However, ICD-10 diagnosis codes have different rules regarding specificity and providers/suppliers are required to submit the most specific diagnosis codes based upon the information that is available at the time.
When evaluating the health of your revenue cycle, there are a handful of key questions worth asking. For example, are you getting your money from payors as quickly as possible? Is your cash posting team leveraging the benefits from the Patient Protection and Affordable Act (ACA)? Are you holding up posting payments because you are waiting for that check? Are you having issues reconciling your revenue with finance? asking. For
If your answers to any of these questions are not what you’d like them to be, consider implementing the following revenue cycle optimization measures.
Topics: revenue cycle