Accelerating COVID-19 Revenue Recovery with Analytics

Hospitals continue to struggle to regain baseline inpatient and outpatient volumes following the COVID-19 outbreak—and many anticipate that volumes won’t return to normal until July 2021, an American Hospital Association analysis shows.

It’s Not Too Late to Ramp Up Price Transparency Compliance

This paradigm shift demands that hospital revenue cycle departments reimagine the patient journey with an eye toward self-service, highly transparent, highly digital interactions. In a post-COVID environment, price transparency isn’t just about compliance.

Virtual Care During COVID-19: Making the Right Moves for Reimbursement

Telehealth visits could top 1 billion in 2020, with 900 million visits related to COVID-19 alone, a recent report predicts. But even as the Centers for Medicare & Medicaid Services broadens access to virtual care, navigating telehealth and e-visit reimbursement during the pandemic presents unique challenges for providers.

Have you registered SSI as your Health Information Handler?

The SSI Group — a certified Health Information Handler (HIH) is happy to announce that all of our current providers can get their Additional Documentation Request (ADR) letters electronically (as eMDR) through SSI as their registered HIH.

Healthcare Artificial Intelligence Outlook: Benefits, Projected Growth & Challenges

Despite the initial capital investments and maintenance costs, healthcare artificial intelligence (AI), is here to stay and projected to grow rapidly in the coming years. Learn more about the industry outlook and how AI benefits providers and health systems, improve population health & reduces healthcare expenses.

The Personal Factor in Support for Revenue Cycle Software

When it comes to support for revenue cycle software and HIT solutions, how often can you expect a quick answer from a friendly, U.S.-based support representative?  SSI’s Vice President of Client Services, Brian DeWeese, is proud to lead a team that offers top support to client health systems.

Winning the Battle: Hospital Patient Access Best Practices

In a time of increasing patient payment burdens, many hospital revenue cycle teams are exploring patient access best practices in an attempt to get a handle on accounts receivables. Some hospitals have doubled point of service collections. How do they do it? We take a comprehensive look at patient access best practices including systems, denials, pre-registration, and training for teams dealing with patient financial discussions.

Improve Your Healthcare Organization’s Claims Denial Management Processes

Revenue cycle management (RCM) technology modernization is the next phase for hospital IT software since the completion of the massive electronic health records (EHR) implementation. Now, the challenge hospitals, ambulatory surgery centers, and providers are facing is the the process of updating their RCM software to support value-based care and minimize revenue leakage.

Patient Access Management Challenges, News, and Progress

One of the most overlooked, but arguably one of the most important aspects of the hospital experience is patient access. Patient access encompasses the front-end registration process and all of its supporting financial dealings with providers, patients, and payers

Patient Access Management Challenges, News, and Progress

One of the most overlooked, but arguably one of the most important aspects of the hospital experience is patient access. Patient access encompasses the front-end registration process and all of its supporting financial dealings with providers, patients, and payers throughout the healthcare experience.

Let’s take a look at the industry and cover recent news, updates, and challenges related to patient access management.

Out-of-Pocket Costs Increase and Patient Collections Decrease

A recent study published by Crowe Horwath revealed that hospitals are collecting a significant amount less from patients that have higher out-of-pocket costs as opposed to those with lower deductibles. In fact, the stats showed that those patients with account balances that were greater than $5,000 had four times lower collection rates than low-deductible health plan patient accounts.

According to the report: “While average patient balances for high-deductible plans increase, payment collections vary based on the size of the balance. As healthcare providers analyze the ‘realization’ (i.e., the percentage of net revenue versus gross revenue) of their managed care contracts, they also should understand risks associated with high-deductible plans and should recalibrate their AR valuation and potential impacts on revenue recognition to account for these new market factors.”

Price Transparency Remains a Struggle for Patient Access Management

As reported by Healthcare Finance, the Pioneer Institute recently published an 18-month follow-up study to a previous study that showed “little price transparency with the Commonwealth’s hospitals.” The more recent study, unfortunately, shows that Massachusetts hospitals are still failing to meet the goal, by not being able to provide pricing estimates to consumers after the request was made, within two days. The law requires this two-day response period to be met, and the average is two to four business days according to the survey. The Pioneer Institute states:

“Response time ranged from a few minutes at Baystate Franklin Medical Center in Greenfield and Morton Hospital and Medical Center in Taunton, to six or seven days at some other hospitals.”

Health Information Access Taken to the Bedside

Providing secure and reliable patient access to information has been an ongoing dilemma for healthcare professionals for quite some time. Patient portals, mobile apps, and other IT solutions have attempted to meet this goal in the past.

According to an article in Search Health IT, the University of Colorado now provides this access to health information for patients right at the bedside. The benefit and ultimate goal of this type of information sharing is to increase patient engagement, which can lead to improved outcomes and greater satisfaction. Certainly, access to this type of sensitive information outside of the hospital setting is important, but in-patient involvement in care is equally important, which is why the University of Colorado is trailblazing this practice for others to follow suit. Health information such as vital signs, lab results, and test results are provided to patients in real-time via Samsung tablets and Samsung’s Knox Custom Configurator according to Trevor Smith, senior account manager of strategic accounts at Samsung.

Tackling the Hospital Revenue Cycle Management from the Front-End

Becker’s Hospital Review published a revenue cycle management (RCM) tip recently that was simply: “Start in the front office, not the back office.” According to the brief article, any healthcare organization that desires to reduce claims denials needs to concentrate on access management first, which deals with the front end of the revenue cycle process. This advice was credited to Ryan Feldt, manager at ZirMed, a provider of cloud-based revenue cycle software and predictive analytics, who offered his advice in a 2016 article in Becker’s:

“The front office holds the keys to preventing the most frequent causes of denials, including ineligible/uncovered services, failure to obtain prior authorization, lack of medical necessity, incomplete/inaccurate patient demographic information and services covered by another plan or payer. Nearly all eligibility-related information can be uncovered and confirmed prior to the time of service — by leveraging effective and accurate patient eligibility verification technology which can save your staff time and increases their effectiveness, as compared to manual methods.”