Revenue Cycle News Update – December 20, 2018
Welcome to our last revenue cycle news roundup for 2018. This is a regular feature showcasing the most vital recent news stories in healthcare IT and revenue cycle management.
Here once again 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
There are 2 main ways to get your Medicare coverage – Original Medicare (Part A and Part B) or a Medicare Advantage Plan (Part C). Original Medicare doesn’t cover everything, so many people buy additional coverage, like a Medicare Prescription Drug Plan (Part D).
CMS helps seniors understand their benefit options. Our software helps providers understand what benefits their patients are eligible for.
Private Payer News
Doctors, hospitals and medical labs used to be concerned about patients who didn’t have insurance not paying their bills. Now they’re scrambling to get paid by the ones who do have insurance.
What to do? Our self-pay service can help you collect all of your insurance-eligible self-pays in six easy steps.
The need to upgrade technology has been felt most acutely in limitations around billing and less-than-optimal conversion of receivables to cash. Healthcare providers may be delaying technology investments because of concerns about return on investment. More than 76 percent of survey respondents said that the ROI from these upgrades is not commensurate with the associated cost and disruption.
We can help! Our cloud-based insurance verification is easy to implement and has a track record of proven ROI.
Revenue cycle is an EHR-related area of dissatisfaction — 56 percent of execs said EHR RCM adoption challenges have been equal to benefits.
Our fast, simple insurance verification software helps out at the front-end of the revenue cycle, confirming benefits at check in. Self-pays? We can help with those too.
Aligning the healthcare revenue cycle with the patient experience and patient demands will help to boost collections and streamline clinical encounters, a healthcare CFO explains.
Our insurance discovery software can also help you reduce self-pay receivables, get paid soon, and give patients peace of mind by finding coverage they didn’t know they had.
Without a workable revenue cycle management system, 82 percent of the hospitals plan to go blind with value-based reimbursement and 85 percent may seek consulting services.
Our insurance eligibility verification software plays a key role at the front end of the revenue cycle, and we integrate with Medicare, Medicaid, and hundreds of payers and their health plans in our system.
Value-based care, healthcare price transparency, and revenue cycle management technologies were top trends in 2018.
Accelerating the revenue cycle is always a hot topic, and we help healthcare providers of all types get paid faster by verifying insurance benefits and eligibility up front.