Lack of competition is a key reason for President Biden’s executive order, “Promoting Competition in the American Economy.” The proposed order tackles four key areas where a lack of competition in healthcare increases prices and reduces access to quality care: prescription drug costs, hospital consolidation, health insurance choice, and hearing aid access. Among other things,Continue reading “Executive Order Tackles Healthcare Price, Transparency, and Competition”
Tag Archives: Healthcare Revenue Cycle Management
Streamlining the Process of Prior Authorizations in Healthcare
From the moment data is entered electronically into a patient chart, the prior authorization process begins. For care to be obtained, prior authorizations have to be identified and submitted with the right codes, approvals, and follow-up. The majority of health plan denials are attributable to prior authorizations, eligibility, and medical necessity rules. Currently, hospitals andContinue reading “Streamlining the Process of Prior Authorizations in Healthcare”
Addressing Burnout by Optimizing Healthcare Processes
The Washington Post-Kaiser Family Foundation polled frontline workers in April 2021 and revealed, ”3 out of 10 healthcare workers are thinking of changing professions.” While this may sound surprising, it makes total sense. Nearly half (49%) of healthcare workers reported they had suffered burnout in 2020, while 43% reported feelings of work overload. And it’sContinue reading “Addressing Burnout by Optimizing Healthcare Processes”
Artificial Intelligence (AI) is Not Ready for Prime Time in Healthcare, Yet
Sometimes we read what others are saying and, because we want it to be true, we imagine it is true. It’s important to break down false promises and inaccurate information about Artificial Intelligence (AI). Healthcare has not even begun to realize the potential of AI, as we are merely at the infancy stages of applyingContinue reading “Artificial Intelligence (AI) is Not Ready for Prime Time in Healthcare, Yet”
Key Strategies to Improve Revenue Cycle Processes in 2021
2020 was an especially difficult year for most rural hospitals and health systems, who lost an estimated 70 percent of their income due to delayed and deferred visits and procedures. Although billing and claims might seem like a pretty linear process, there are detours and bumps that challenge even the best revenue cycle management teams.Continue reading “Key Strategies to Improve Revenue Cycle Processes in 2021”
Boston Software Systems Interview with Brad Cox, Director of Patient Accounting, Northwestern Medicine
When a provider contacts a payer to check a claim status, it takes an average of 14 minutes and costs the provider $7.12. By the time a claim reaches a denied status, the provider has lost at least two weeks. Considering that the time between claims submission and payment can be as long as fourContinue reading “Boston Software Systems Interview with Brad Cox, Director of Patient Accounting, Northwestern Medicine”
Revenue Cycle Challenges: Make Automation a Key Ally in 2021
2020 highlighted existing administrative hurdles and operational speed bumps across the healthcare industry. Normal challenges in the revenue cycle, like prior authorizations, claims processing, posting, and account adjudication, were magnified by reduced staffing, remote teams, and gaps in productivity. Many smaller practices and rural hospitals were not able to keep up with the demands ofContinue reading “Revenue Cycle Challenges: Make Automation a Key Ally in 2021”
Leveraging Automation in Healthcare
Leveraging automation in healthcare has proven to deliver real benefits. The Deloitte Global RPA Survey found that “53% of respondents have already started their RPA journey. This is expected to increase to 72% in the next two years.” Leaders are no longer debating the benefits of digital health. It is the right tool to fightContinue reading “Leveraging Automation in Healthcare”
What Can “We” Do Better in Healthcare?
We recently had an opportunity to sit down with Don Seamons, from the Healthcare Solutions Project, and discuss ways in which the “collective we” can improve in the healthcare system. Now more than ever, we need products that work for end users and allow them to efficiently and effectively care for patients. However, there’s aContinue reading “What Can “We” Do Better in Healthcare?”
Automation Makes Population Health Management Scalable and Sustainable
The use of automation to replace manually laborious tasks that are better done by machines saves time, and allows clinicians to devote more time to higher-value roles, such as patient interaction. Identifying patient challenges is the foundation of care coordination. Multiple organizations use paper or EHR-based assessments to pinpoint social determinants of health and communicateContinue reading “Automation Makes Population Health Management Scalable and Sustainable”