Revenue Cycle News Update – January 10, 2019
Revenue Cycle News Update for January 10, 2019
Welcome to our first revenue cycle news roundup for 2019! 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
CMS questioned the provider directory accuracy for nearly 49 percent of the locations listed online by Medicare Advantage Organizations.
Is your facility’s information accurate? It may be a good idea to investigate.
Your Medicare Administrative Contractor’s (MAC’s) secure portal Medicare Beneficiary Identifier (MBI) look-up tool now returns the MBI even if the new Medicare card has not been mailed.
Our insurance verification system integrates Medicare and Medicaid plus hundreds of payers and their health plans — all accessed directly through our intuitive, web-based portal.
Model would reflect the number of conditions and add categories for mental health, substance use disorder, and chronic kidney disease.
Private Payer News
Millions of consumers receiving surprise medical bills blame their insurer or provider.
How about giving patients a positive surprise regarding their out-of-pockets costs instead? Our insurance discovery software can help patients find coverage they didn’t know they had.
Upwards of 30 percent of self-pay accounts — those patients without health insurance or those who have a patient balance after insurance — generate more than 80 percent of the self-pay revenue collected by hospitals.
We can help find coverage patients may not have known they were eligible for, then help you collect all your insurance-eligible self-pays in six easy steps.
Traditionally, hospitals centered their revenue cycle management strategies on commercial and government payers. As more patients began enrolling in health plans with high out-of-pocket costs, hospitals started shifting their focus to make billing and payment processes more patient friendly.
We predict you can increase reimbursement and reduce collection costs with our easy-to-use insurance verification software.
New trends and requirements in healthcare are putting medical billing and patient access on the top of the healthcare revenue cycle risk list in 2019, Crowe reports.
Our insurance verification system helps reduce the risk of claims rejections and denials.
Focusing on a better patient financial experience, broadening the vision to include the outpatient sector and AI can all boost the bottom line.
Verifying patient insurance eligibility up front can boost reimbursement as well, as shown in these success stories.
Stakeholder participation, real-time transparency and emerging use cases will likely help blockchain permeate healthcare over the next several years.