By: Greg Snow, Senior Vice President of Market Strategy, EnableComp The percentage of hospitals outsourcing complex claims has doubled over the past several years. The number of complex claims outsourced to specialized, third-party companies has increased from 20.4% to 39.8% and continues to grow. [1] Nationwide, reduced operating margins require healthcare management to capture [...]
Let's hear it for clarity! Thanks to the Department of Health and Human Services' (HHS) revision of the Physician Referral Law (aka the Stark law) in November 2020, we now have more explicit guidance for the key definitions. And for physician compensation experts, it’s about time… Over the past twenty years, healthcare systems have been [...]
By David Williams, CPA, MPH, FHMA Partner – Carr Riggs & Ingram, LLC Wow! How do you even begin to describe the tumultuous 2020? A year that was filled with politics, a Public Health Emergency, a pandemic, a soft close of the economy, politics, over 330k+ lives lost attributed to a deadly virus, more [...]
On October 28, the FBI and U.S. Department of Homeland Security assembled a conference call with healthcare industry executives warning about an “imminent cybercrime threat to U.S. hospitals and healthcare providers.” An aggressive Russian cybercriminal gang known for deploying ransomware was preparing to disrupt information technology systems at hundreds of hospitals, clinics, and medical [...]
Reducing health care revenue cycle management costs involves outsourcing areas which administrative departments may be ill-equipped to handle. Decreasing overhead enables health care providers to dedicate limited financial resources to where they are most useful: procuring new equipment, hiring personnel, training existing staff and other investments. Allaying financial scarcity entails identifying the largest costs and [...]
During a crisis, extra care may be needed to collect critical cash. Thankfully, there are a few simple things that we can review to insure the best possible outcomes in a difficult situation. Establish that you are talking to the correct person responsible for the debt. Set the tone for the conversation by smiling [...]
Ensuring this timeline is streamlined and runs smoothly means a strong revenue cycle management (RCM) process. June 2, 2020 Hospital staff workers and healthcare providers are expected to capture information, manage and collect payments for services from patients from the moment they schedule an initial appointment for treatment up until they make the final payment [...]
COVID-19 has made it a challenging time for our physician practices as volumes have dropped in many clinics. Looking for alternative revenue streams has led to revisiting new or expanded service models, especially those that add revenue under the new paradigm of practicing medicine at a distance. The expansion of clinic services through telemedicine and [...]
Ed Tucker, CPA, CMC, LSSBB April 22, 2020 As I write this article on Wednesday, April 22, 2020, some areas of our country are suffering many cases and many deaths from COVID-19. Other areas have fewer cases and fewer deaths. The virus appears to be especially dangerous to the elderly, people with underlying health [...]
