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REVENUE CYCLE NEWS
Phil C. Solomon's Blog - Healthcare Financial Performance, Revenue Cycle Optimization and Healthcare Industry Trends
by Phil C. Solomon
The Revenue Cycle News blog focuses on the most relevant news and information in healthcare finance and revenue cycle management. I am continually searching for the latest news, thought leadership ideas, and financial performance improvement strategies to help healthcare providers operate in a more patient friendly and financially sound way.
The United States has the best healthcare system in the world, and I feel compelled share ideas to help keep our hospitals, physicians, and medical billing companies as fiscally fit as possible. Providing quality healthcare is the cornerstone of our health system, yet without a systemically sound financial strategy to deliver quality services, many hospitals, medical groups and healthcare providers will feel the squeeze as reimbursements decline and uncompensated care increases.
The healthcare revenue cycle is now feeling the effects of consumerism as employers focus on containing healthcare costs so they can compete and stay solvent during today’s economic climate. How will healthcare providers address this new trend in healthcare revenue cycle management? Today’s escalating financial pressures on healthcare organizations will skyrocket as consumers take on increased financial responsibility for their healthcare services.
Providers now must become the “lead dog” of the sled as if they were racing in the Iditarod Great Sled Race and boost their capabilities and creativity in leveraging their hospital information systems and other technology solutions to improve access management, respond to healthcare consumerism, enhance cash collection, and improving payer performance.
This is a daunting task for revenue cycle executives. One must always remember, if you are not stepping outside the box and looking ahead of the pack for creative solutions, you will end up like the rest of the dogs in the sled. Consider this, unless you are the lead dog, the scenery never changes. Get out in front and stay there!
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TAGS Best Practices BPO Business processing outsourcing Collecting self pay deductibles and co pays Consumerism and transparency General Business Generation II IT solutions for hospitals Healthcare Compliance Healthcare Reform Healthcare Revenue Cycle Healthcare Security Healthcare Social Media Healthcare Software Healthcare Technology HFMA ANI Hospital Charity Care Hospital Legislation Hospital Patient Data Security Hospital Performance Improvement Hospital Revenue Cycle Hospital Revenue Cycle Improvement Hospital revenue cycle leading practices Hospitals and health systems Hospital Software ICD-10 Medical Bills Medical Collection Agency Medicare Medicare - Medicaid Non-Profit Hospitals Patient Access Registration Physician Revenue Cycle Management Positive Attitude Red Flag Rule revenue-cycle systems revenue cycle cost savings Revenue Cycle Management Revenue Cycle Outsourcing SaaS cloud technology platforms Self Pay Collections
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Recent Blog Posts Patient Satisfaction Delivered the Disney Way March 3, 2016 Telemedicine’s Impact on Value-based Care March 1, 2016 Healthcare Patient Payment Liability Just Ain’t What it Used to Be February 2, 2016 CMS for Medicare Advantage Risk Adjustment Update January 21, 2016 How to Reduce Costly Hospital Readmissions in 2016 January 6, 2016 Healthcare and the FCC Duke it Out Over TCPA December 2, 2015 Free Webinar Tomorrow: Top 5 Financial Repercussions from Post ICD-10 Denials November 16, 2015 Self-pay Rising Faster Than Richard Branson’s Virgin Galactic Space Program November 5, 2015 Medicare Rates Set to Soar October 15, 2015 Free Webinar – Post ICD-10 Medical Coding at Risk DRG’s October 8, 2015 UPDATED POST: Salami Tactics and IRS 501(r) October 5, 2015 Top 80 Wackiest ICD-10 Codes September 30, 2015 Top at Risk DRG’s in the Post ICD-10 Era & How to Proactively Address Coding Challenges September 25, 2015 How Health IT Plans to Focus on Patient-centered Healthcare September 23, 2015 Revenue Cycle Integrity Must Precede Data Analytics September 16, 2015 Healthcare Executives – Keep Calm and Be A King for A Day August 13, 2015 CMS Finds More Than 10% of Payments Paid Improperly August 3, 2015 High-Deductible Insurance and Rising Bad Debt July 23, 2015 Medicare Physician Payment and Fee Schedule Rule to Change July 16, 2015 Providers Will Have Less Heartburn On The Road to I-10 July 9, 2015
Patient Satisfaction Delivered the Disney Way March 3, 2016
Telemedicine’s Impact on Value-based Care March 1, 2016
Healthcare Patient Payment Liability Just Ain’t What it Used to Be February 2, 2016
CMS for Medicare Advantage Risk Adjustment Update January 21, 2016
How to Reduce Costly Hospital Readmissions in 2016 January 6, 2016
Healthcare and the FCC Duke it Out Over TCPA December 2, 2015
Free Webinar Tomorrow: Top 5 Financial Repercussions from Post ICD-10 Denials November 16, 2015
Self-pay Rising Faster Than Richard Branson’s Virgin Galactic Space Program November 5, 2015
Medicare Rates Set to Soar October 15, 2015
Free Webinar – Post ICD-10 Medical Coding at Risk DRG’s October 8, 2015
UPDATED POST: Salami Tactics and IRS 501(r) October 5, 2015
Top 80 Wackiest ICD-10 Codes September 30, 2015
Top at Risk DRG’s in the Post ICD-10 Era & How to Proactively Address Coding Challenges September 25, 2015
How Health IT Plans to Focus on Patient-centered Healthcare September 23, 2015
Revenue Cycle Integrity Must Precede Data Analytics September 16, 2015
Healthcare Executives – Keep Calm and Be A King for A Day August 13, 2015
CMS Finds More Than 10% of Payments Paid Improperly August 3, 2015
High-Deductible Insurance and Rising Bad Debt July 23, 2015
Medicare Physician Payment and Fee Schedule Rule to Change July 16, 2015
Providers Will Have Less Heartburn On The Road to I-10 July 9, 2015
Hospital – Healthcare Topics Hospital – Healthcare Topics Select Category General Business (1) Healthcare Compliance (19) Healthcare Reform (60) Consumerism and transparency (7) Hospital Legislation (27) Healthcare Security (8) Hospital Patient Data Security (5) Red Flag Rule (1) Healthcare Social Media (1) Healthcare Technology (13) Generation II IT solutions for hospitals (1) Healthcare Software (4) Hospital Software (3) revenue-cycle systems (4) SaaS cloud technology platforms (3) HFMA ANI (1) Hospital Revenue Cycle (178) Healthcare Revenue Cycle (170) Best Practices (6) BPO (9) Business processing outsourcing (8) Collecting self pay deductibles and co pays (18) Hospitals and health systems (7) Non-Profit Hospitals (4) Physician Revenue Cycle Management (1) Revenue Cycle Management (143) Revenue Cycle Outsourcing (8) Hospital Charity Care (9) Hospital Performance Improvement (21) Hospital Revenue Cycle Improvement (21) Hospital revenue cycle leading practices (6) Medical Bills (2) Patient Access Registration (3) revenue cycle cost savings (2) Self Pay Collections (12) ICD-10 (5) Medical Collection Agency (1) Medicare (2) Medicare – Medicaid (5) Positive Attitude (16)
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