Optimizing The Revenue Cycle 1 of 12: Registration

Posted by Crystal L. Miner, MBA-HSA, FACMPE on Dec 12, 2018 7:48:00 AM

 

When you showed up at the hotel on your last vacation, did you have to fill out any information about yourself? For example, where you live, your phone number, or your credit card information? Probably not. You just said your name and gave them your driver’s license and credit card. In return, they said, “Sign here please,” for paperwork that says, “I will not destroy my room,” and gave you your room key. These steps all occurred while asking you how your trip was, why you were there and was there anything they could do to make your stay more enjoyable.

 

It has been a long time since hotels had new arrivals filling out all their personal information when they came in the door. We have been filling this all out online or over the phone for years. The hotels have our contact information and our payment information before we ever arrive. In most cases, if you don’t show or cancel in time they use that information to charge you a fee. Why aren’t we doing this in healthcare? It is expected everywhere else. Hotels, car rentals, sometimes even restaurants for large reservations. What makes the doctor’s office so different? What can we do to make it easier for our patients and ourselves?

 

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Topics: revenue cycle management, registration, Medical Practice Improvement

Medical Coding Audits are a Must for your Practice

Posted by Dave Cowley on Nov 20, 2017 3:48:49 PM

The concept is quite simple: Determine what is wrong with the patient, and then document what you do about it. As simple as it may seem, providers all across America struggle with this highly impactful piece of the business. Revenue and regulatory compliance are two of the most discussed topics of impact.  While those two factors are of the upmost importance submitting clean claims remains one of the most important parts of any providers clinic. 

Where do you start whether you are a physician, administrator, or an integral part within the revenue cycle?  Below are three very important points to consider:

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Topics: revenue cycle management, Medical Practice Improvement, CDI, medical audits, coding review, education

Physician Documentation Improvement – Why, How, and Where do I start?

Posted by Dave Cowley on Nov 10, 2017 10:45:41 AM

It seems like a simple concept:  Document what is wrong with the patient, and what you are doing about it.  Yet, despite clear and highly visible impacts to any healthcare organization, the war for improvement rages on in every provider office across the country.  The two hot spots most often acknowledged are impacts to revenue and regulatory compliance.  We will talk about the importance of those factors – but I would also submit that clean and actionable patient information is a critical piece of our nation’s healthcare strategy.  More on that in a bit.

Where do you start whether you are a physician, administrator, or cog in the revenue cycle machine?  Here are a few key strategy points to consider:

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Topics: revenue cycle management, Medical Practice Improvement, CDI

5 Practice Improvements for Success in 2018

Posted by Dave Cowley on Nov 3, 2017 10:36:00 AM

What does success in 2018 look like to you? Your probably not thinking about taking your single provider practice and expanding into 100 physicians. You probably aren't even thinking about doubling growth. Most people are looking for some steady improvement over 2017. Good news, that is extremely feasible with just 5 simple improvements. 

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Topics: revenue cycle management, Medical Practice Improvement

7 Common Misconceptions About Revenue Cycle Process Outsourcing

Posted by Dave Cowley on Nov 2, 2017 9:52:00 AM

When exploring the option of outsourcing any or all of your revenue cycle processes there are many factors to consider.  There are at least a thousand ways to dissect this, and many positive outcomes and advantages.  There are certainly pitfalls to avoid, we will start with a few of the many misconceptions relating to hiring a revenue cycle management company.

Here are 7 misconceptions about outsourcing in healthcare:

Misconception #1: Your Reimbursement Will Drop if you Outsource

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Topics: revenue cycle management, Medical Practice Improvement, Outsourcing

5 Tips to Reduce Denials

Posted by Dave Cowley on Oct 27, 2017 10:33:37 AM

$25 to rework a claim? That is right, according to an MGMA Connection article it will cost the provider $25 on average to rework a claim. That might not sound like much, but think how many denied claims you receive every single day, month after month. So not only are you not getting money from the insurance company, you are having to pay $25 to rework it in the hopes that it will not get denied again. This is a cash flow nightmare for any practice. This is why we are writing our 5 tips to reduce denials. 5 simple improvements that can save you hundreds of thousands of dollars over the years. Without further ado:

 

Tip #1 Documentation Errors

in the fiscal year of 2013 CMS RAC auditors identified and corrected $3.75 billion in improper payments. Perhaps you were part of that, or perhaps you will be part of it this year, hopefully not! Simple documentation errors lead to poor coding which inevitably means either denied claims or low reimbursements. Think of this common error. 

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Topics: revenue cycle management, Medical Practice Improvement, Denial Management, Coding Related Denials

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