Revenue Cycle News Update – April 5
Revenue Cycle News Update – April 5, 2019
Welcome to our first revenue cycle news roundup of April 2019. This regular feature showcases the most vital recent news stories in healthcare IT and revenue cycle management.
Here as always are the top stories since our last news roundup, as well as what you’ll need to know in the next few weeks.
Medicare / Medicaid News
Insurer Clover Health plans to cut a quarter of its workforce, which amounts to approximately 140 employees, and replace them with people who have backgrounds in health insurance and clinical care. Specifically, they are looking for those who have Medicare skill sets.
Understanding the healthcare industry is what we do best. With 20 years of revenue-cycle management experience, we’ve built insurance verification software for ease of use by admission, registration and billing staff.
CMS recently announced that 1,086 healthcare providers are still participating in the Bundled Payments for Care Improvement Advanced (BPCI Advanced). When the model was initially launched in October 2018, a total of 1,299 entities signed up. The advanced bundled payment model has had a rocky start but despite early setbacks, CMS still expects more providers to join the program.
According to the 2017 Quality Payment Program Reporting Experience report recently published by CMS, 95 percent of eligible clinicians avoided a negative payment adjustment through Merit-Based incentive Payment System (MIPS) participation in 2017. Of these, 93 percent earned a positive adjustment.
We know just how important it is to receive prompt payments, which is why we help you secure payment on the front-end of the revenue cycle to avoid the expense of collecting at the back-end.
Private Payer News
According to Ellwood City Medical Center CEO, Beverly Annarumo, unpaid accounts totaling roughly $9 million are the root cause of disruptions to the hospital’s payroll. She claims the hospital is awaiting delayed payments from insurance companies from services provided and resources used to provide care.
Our solution helps healthcare providers get paid faster by capturing more revenue with Insurance Discovery. In fact, we helped a three-hospital, 245-bed system in Northeast Georgia find coverage for 4,649 self-pay patients.
Out-of-network medical bills can be costly. See how your state ranks in the highest share of surprise out-of-network medical bills.
Are you ready to see how easy it can be to understand patients’ benefits up front? We can collect all your insurance-eligible self-pays in six easy steps.
From a push for price transparency to more demand for revenue cycle management outsourcing, here’s a great look at key points that emerged from recent surveys and studies that provide insight on the revenue cycle trends hospitals and health systems can plan for in 2019.
When you’re ready to evaluate your revenue cycle management outsourcing options, we’re here to talk. See how we helped a hospital gain $3.4 million in revenue through our Insurance Discovery process.
Upcoming Revenue Cycle Events
We’d love to talk! Here’s where to find us over the next few months:
April 24-26, 2019
Wisconsin Dells, WI