Aged Accounts Receivable
|
|
- Vanessa Gordon
- 8 years ago
- Views:
Transcription
1 Aged Accounts Receivable
2 Agenda Introduction Objectives About Us Overview Benefits Process Analysis Reporting Investment Next Steps
3 Introduction John Boland John Boland is vice president at MedSynergies (MSI) and responsible for advising healthcare billing organizations on selecting services to enhance their revenue cycle. Prior to joining MSI in 2005, John directed national and regional client services with IDX Systems Corporation, where he provided revenue cycle outsourcing solutions to medical group practices. He received a bachelor of arts in economics from the University of Chicago in Illinois.
4 Objectives Describe MedSynergies service for processing old AR. Show examples. Let you know how you can take advantage of the service.
5 MedSynergies About Us Founded in September 1996 by physicians 13 years of investment in processes and technology to optimize Centricity Group Management Business service provider to medical billing organizations Billing optimization consulting Payment processing services Denial management services Business analytics Technology services Including ASP hosting of GE Centricity Group Management (formerly IDX Groupcast ) Patient self-pay services
6 MedSynergies About Us Headquarters: Irving, Texas Regional offices: Little Rock, Chicago, Orlando and Phoenix 240 Employees Serving over 3,600 providers and 55 specialties in 37 states and supporting more than 4,500 concurrent end users Providers like: Physician practices Hospitalists Corporate Home healthcare/infusion therapy Surgery centers Emergency departments
7 Service Overview Work 100% of your aged insurance receivables! Sorting through old accounts receivable (AR) is time-consuming and labor intensive for most physician groups. You specify which receivable accounts need to be worked 90 days or older. Comprehensive analysis will classify all aged accounts by status including: Denial reasons Balance type No response You can choose to purchase the comprehensive aged AR analysis or both the analysis and the processing of the accounts. The service is offered as either a one-time project or on an ongoing basis. The analysis can be completed in 2-3 weeks.
8 Benefits Some of the benefits to working your old AR: Process unresolved accounts in an accelerated time frame Increase revenues with an average positive return on investment of over 200% Eliminate unnecessary write-offs Focus your management time on caring for patients Understand and address root causes for aged AR trends The chart below illustrates the return on investment for a recent client:
9 Benefits "Our A/R collections have increased and our business office costs have decreased significantly!" Wesley Jones Chief Financial Officer Central Utah Clinic
10 The Process High Level Initiation Analysis Research Follow-up Ongoing Follow-up Reporting
11 Analysis
12 Analysis A/R Inventory Waterfall The source of the waterfall is MedSynergies consulting business: Practice assessments System configuration assessments Process redesign Financial assessments The A/R waterfall is a financial and operational assessment tool. Used to align human resources with the workload. Provides guidance on where to invest in automation. Manufacturing view of every CPT with touches and stopping points. Total A/R at a given point in time. < 60 days from charge posting date and > 60 days from charge posting date. While specific to A/R, it can be used as a process map for your organization. As a result, we ve divided our own organization into various operational units to better align our staff with the work.
13 Analysis The Waterfall Open Credit Balance Total I 42,896 4,751 47,647 W 1, ,044 P 25, ,044 C Total 70,692 5,321 76,013 Insurance A/R world Insurance % of total Self Pay % of total Pending Exhaust % of total Total Open Credit Balance Total 44,849 4,842 49, % 6.37% 65.37% 33.70% 0.56% 34.26% 0-30 Days 0.30% 0.07% 0.37% 93.00% 7.00% % 0 > 60 Days from D.O.C.P. <=60 days from D.O.C.P. I 20,693 22, Days W 718 1,235 Total 21,411 23,438 0 Printed On Hold Not Printed Printed On Hold Not Printed I 15,008 4, ,133 3, W Total 15,435 4, ,646 4, % of bucket 72.09% 21.16% 2.08% 79.55% 17.13% 3.32% % of Total 21.83% 6.41% 0.63% 26.38% 5.68% 1.10% 0-30 Days Response No Response Response No Response I 10,684 4,324 5,593 12,540 W Total 10,879 4,556 5,632 13, Days % of bucket 70.48% 29.52% 30.20% 69.80% % of Total 15.39% 6.44% 7.97% 18.41% 0 C R A P D C R A P D I 0 3, , ,017 1,666 1,910 W Total 0 0 4, , ,037 1,667 1,928 % of bucket 0.00% 0.00% 37.01% 5.63% 66.56% 0.00% 0.00% 36.17% 29.60% 34.23% % of Total 0.00% 0.00% 5.70% 0.87% 10.24% 0.00% 0.00% 2.88% 2.36% 2.73%
14 Analysis The Waterfall
15 Example: Multi-Specialty Practice Composition of A/R (Units) No Response > 60 6% Credit Balance 7% Collections 0% Claims Issues 13% Self Pay 34% Self Pay Workable No Response <=60 17% Workable 23% No Response <=60 Claims Issues Credit Balance No Response > 60 Composition of the Workable % (Units) Straight Payments 13% Denials 52% Adjustment with Payment 35% Straight Payments Adjustment with Payment Denials
16 Example: Multi-Specialty Practice Composition of A/R (Dollars) No Response > 60 6% Credit Balance 5% Collections 0% Self Pay 24% Claims Issues 15% Self Pay Workable Composition of Workable A/R (Dollars) No Response <=60 27% Workable 23% No Response <=60 Claims Issues Credit Balance No Response > 60 Straight Payments 11% Adjustment with Payment 18% Denials 71% Straight Payments Adjustment with Payment Denials
17 Example: Analysis AR Categories Initial Analysis Denial transaction message codes Current balance type Age Root Cause Analysis Payer Provider Revenue center Department BRDHOS Place of service Insurance class
18 Analysis Sample Recommendations Sample Clinic Old A/R Summary Recommendations Charges Greater Than 1.5 Years Project PAYER OPTIONS RECOMMENDATIONS LOGIC 1. Send detailed report to payer for 1. Move forward with option 1 Primary Insurance Type = HMO last chance of adjudication. The Charge 540 days+ since DOS detailed report will include claim 2. Work unidentified credit balances Current Insurance = Primary Insurance date and claim run number. prior to presenting A/R report to Insurance Balance Type = Insurance physicians for write-off approval. Owed Amt > 0 2. Provide physicians with a Move any possible to open A/R if breakdown report of accounts > match found. 365 days from date of service for write-off approval. HMO Primary-(540+ days from date of service) (Top six local carriers in which possible recovery of funds could occur) 1. GEMMA 2. HPUB 3. CDMM 4. ALTIMA PLAN 5. PRO HEALTH 6. BLUE CROSS BLUE SHIELD MEDICAID- (540+ days from date of service) MEDICARE (540+ days from date of service) BLUE CROSS BLUE SHIELD (540+ days from date of service) 1. Write-off 1. Check for unidentified credit balances on Medicaid accounts. Move any possible to open A/R if match found. 2. Write-off 1. Write-off 1. Check for unidentified credit balances on Medicare accounts. Move any possible to open A/R if match found 1. Send detailed report to payer for last chance of adjudication. The detailed report should include claim date and claim run number. 2. Provide physicians with a breakdown report of accounts > 365 days from date of service for write-off approval 2. Write-off 1. Move forward with option 1 2. Work unidentified credit balances prior to presenting A/R report to physicians for write-off approval. Move any possible to open A/R if match found. Primary Insurance Type = Medicaid Charge 540 days+ since DOS Current Insurance = Primary Insurance Insurance Balance Type = Insurance Owed Amt > 0 Primary Insurance Type = Medicare Charge 540 days+ since DOS Current Insurance = Primary Insurance Insurance Balance Type = Insurance Owed Amt > 0 Primary Insurance Type = BCBS Charge 540 days+ since DOS Current Insurance = Primary Insurance Insurance Balance Type = Insurance Owed Amt > 0
19 Once the Analysis is Completed Research Line item interaction with payer Detailed steps to realize payment Comprehensive, regular interval reporting on progress and success Follow-Up MedSynergies can update and utilize Groupcast for next steps One-time or continuous project Comprehensive, regular interval reporting on progress and success
20 Research Reporting Examples The service includes weekly and monthly status reports with specialty and/or regionally-specific benchmarks.
21 Research Reporting Examples Remaining Accounts AR Researched Write Offs/Adjust/Transfers Aged AR AR Project Yield to Date Date Accounts Units Revenue Accounts Units Revenue Accounts Units Revenue Accounts Units Payments Adjustments Owed Amount Total Aged AR 15,185 40,612 $6,099, /7/2008 1,203 1,889 $281, ,723 $5,818, $1, $3, $ /14/2008 1,274 2,456 $367, $153, ,426 $5,297, $17, $16, $2, /21/2008 1,092 1,998 $225, $24, ,381 $5,047, $10, $20, $4, /28/2008 1,366 2,590 $301, ,640 2,458 $397, ,333 $4,348, $59, $54, $4, /4/2008 1,095 2,490 $237, $ ,843 $4,111, $99, $101, $16, /11/2008 1,304 3,440 $362, $4, ,385 $3,744, $58, $54, $3, /18/2008 1,391 2,404 $389, ,324 2,368 $123, ,613 $3,231, $28, $46, $7, /25/ $0.00 9/1/ $0.00 9/8/ $0.00 9/15/ $0.00 9/22/ $0.00 9/29/ $ /6/ $0.00 Totals 8,726 17,267 $2,165, ,547 5,732 $703, ,543 2,450 $275, $297, $39, Transfers to next payers $123, Re-filed to 2 ND /3 rd Insurance; 1,993 units for $58, Transferred to patient; 263 units for $56,085 Transferred to next payer: 112 units for $9, Old AR ROI Calculation Project Yield for the week of August 18, accounts, 500 units, $28, Paid Amount $28, Contractual Adjustments $46, Per Account Fee $ 6.00 $73, Owed Amount $7, Analysis Fee $10, Total Investment $83, Balance of $7, units with $0 balance Cash Collected TD $275, units with a balance of $9, with a P balance of $7, Return 330% 35 with an I balance of $1, units with a P credit balance of ($1,823.41)
22 Research Reporting Examples 8/11/2008 Actions/Updates Write Offs for this week: CO55 SVC DEEMED EXPER/INVESTIGATIONAL These charge were first tagged as out of scope of the project All were researched by CBO and the uncollectable open AR is reflected below 17 accounts, 18 units, for $4, All Out Of Scope charge messages codes have been reviewed/researched This portion of the project has been completed All transfers, write offs, and adjustments have been completed from this portion of the AR project Per the direction of CBO, we have excluded the AR for the Neurology and Diagnostic Imaging for DOS prior to January 1, The impact of this omission is reflected in the following breakout 3,608 accounts $634, AR 6,072 units The base of the new project total can be reflected in cells K4, L4, and M4 Project yield for the week of August11, accounts, 414 units; $58, Paid amount $58, Contractual adjustments $54, Owed amount $3, Balance of $3, units at $0 balance 32 units for $3, sitting at Self-Pay 32 units for $ sitting at Insurance balance
23 The Process High Level Initiation Analysis Research Follow-up Ongoing Follow-up Reporting
24 Investment Analysis $10,000 one-time investment Research $6.00 per account Follow-up $2.00 per account
25 Next Steps 1. Meet with your representative to review the process and agreement 2. Sign agreement 3. Data extract 4. Start analysis 5. Show results
26 Questions?
December 2008. Outsourcing, Enablement, Enlightenment. John R. Thomas President and Chief Executive Officer MedSynergies, Inc.
December 2008 President and Chief Executive Officer Revenue cycle management (RCM) for healthcare includes a series of complex processes: charge entry, claims production, payment processing, A/R management,
More informationEffectiveness versus Efficiency in Billing. Is Your CBO a Krispy Kreme? August 2007
August 2007 President and Chief Executive Officer - Faced with increasing billing complexity, initiatives such as National Provider Identifier (NPI) and Patient Quality Reporting Initiative (PQRI), and
More informationLeveraging Predictive Analytic and Artificial Intelligence Technology for Financial and Clinical Performance
Leveraging Predictive Analytic and Artificial Intelligence Technology for Financial and Clinical Performance Matt Seefeld CEO & Co-Founder mseefeld@interpointpartners.com www.interpointpartners.com (404)446-0051
More informationThe LSU Health Care Network
The LSU Health Care Network Mission and Vision Statement The Louisiana State University Healthcare Network (LSUHN) is a multi-specialty physician practice comprised of the distinguished members of the
More informationWhat Every Medical Practice Must Do to Optimize Workflow and Maximize Revenue While Decreasing Costs
What Every Medical Practice Must Do to Optimize Workflow and Maximize Revenue While Decreasing Costs Don t just trust that your staff is maximizing time and revenue. It is up to you to monitor, analyze
More informationThe ABCs of Claim Rejects: Causes, Identification and Resolution
June 2008 The ABCs of Claim Rejects: Causes, President and Chief Executive Officer The ABCs of Claim The ABCs of Claim Healthcare rivals only the U.S. military in the use of acronyms to denote various
More informationDecember 2011 PRACTICE CHECK-UP. XYZ Anesthesia Group. AdvantEDGE Healthcare Solutions www.ahsrcm.com info@ahsrcm.
December 2011 PRACTICE CHECK-UP XYZ Anesthesia Group AdvantEDGE Healthcare Solutions www.ahsrcm.com info@ahsrcm.com (908)-279-8120 AdvantEdge Healthcare Solutions Anesthesia Practice Check-Up I. Introduction:
More informationGE Healthcare. Centricity Solutions Financial Management for Business Process Outsourcing
GE Healthcare Centricity Solutions Financial Management for Business Process Outsourcing Our workflows are clearly more efficient than before. We re collecting cash more quickly, which means we re able
More informationElectronic data interchange and proactive services for customers using revenue cycle management solutions from the Centricity portfolio
GE Healthcare Electronic data interchange and proactive services for customers using revenue cycle management solutions from the Centricity portfolio imagination at work Accelerate revenue cycle performance
More information2009 EXECUTIVE WAR COLLEGE MASTERS CLASS APRIL 28, 2009 SECRETS TO ACHIEVING A TOP PERFORMING LAB BILLING/COLLECTION EFFORT
2009 EXECUTIVE WAR COLLEGE MASTERS CLASS APRIL 28, 2009 SECRETS TO ACHIEVING A TOP PERFORMING LAB BILLING/COLLECTION EFFORT 1 Questions: AGENDA -Do you know if you are you happy with the present billing
More informationElectronic data interchange and proactive services for Centricity revenue cycle management customers
GE Healthcare Electronic data interchange and proactive services for Centricity revenue cycle management customers Accelerate revenue perf Key features Tight alignment with payers ensures mandates, updates
More informationEDI Services helps healthcare network streamline workflow, increase productivity, and improve revenue cycle management.
GE Healthcare Results summary 2008 2010 Reduced eligibility rejection rate from 2% to 0.8% Reduced overall rejection rate from 6.4% to 4% Reduced cost to collect from 8.3% to 6.3% Increased the number
More informationHFMA MAP Keys Patient Access Measure:
HFMA MAP Keys Patient Access Pre-Registration Rate Trending indicator that patient access processes are timely, accurate, and efficient Indicates revenue cycle efficiency and effectiveness N: number of
More informationBilling: The Lifeblood of Your Business Does Yours Measure Up?
Billing: The Lifeblood of Your Business Does Yours Measure Up? A Roadmap to Assess Your Billing Performance and Audit Your Billing Practices Thom Schildmeyer* Billing represents one of the most critical
More informationAccounts Receivable Management:
October 2007 : Task versus Denial President and Chief Executive Officer : Task versus Denial The process of medical accounts receivable (A/R) management is truly a misnomer. In a perfect world, accounts
More informationThe Power of Revenue Management
The Power of Revenue Management Presented By Judy Capko Capko & Company www.capko.com The Power of Revenue Management 6/13/07 1 About the Speaker The Power of Revenue Management 6/13/07 2 The Speaker:
More informationPatrick A. Sorrentino, MS 304 Juliana Lane ~ Bloomingdale, IL. 60108 Work Phone (630) 990-4448 Home Phone (630) 295-9360 Cell Phone (630) 514-9226
SUMMARY OF QUALIFICATIONS Over 20 years of progressive and diversified healthcare experience holding senior management positions at Rush University Medical Center, Arthur Andersen, Midwest Medical Network
More informationDays in Accounts Receivable Days in Accounts Receivable Greater Than 120 Days Adjusted Collection Rate Denial Rate Average Reimbursement Rate
1 Many providers are under the impression they can assess the financial health of their practice by evaluating cash flow only. However, cash flow is just one factor. You don't have to be a finance expert
More information12 16 Memorial Physician Network Billing Cycle Audit Report
O FFICE O F T HE C ITY A UDITOR C OLORADO S PRINGS, C OLORADO 12 16 Memorial Physician Network Billing Cycle Audit Report September 2012 O FFICE O F T HE C ITY A UDITOR C OLORADO S PRINGS, C OLORADO 12
More informationInsurance Terms 101. Patient Access Specialists I
Access Management Insurance Terms 101 University of Mississippi Medical Center Patient Access Specialists I As a Patient Access Specialist Your job is to collect ACCURATE patient information during registration.
More informationRejection Prevention. How Actionable Data Can Drive Results in Your Revenue Cycle
Rejection Prevention How Actionable Data Can Drive Results in Your Revenue Cycle Objectives Build a data collection strategy in denials and rejections that drives action and ultimately improved results
More informationRetrospective Denials Management
Retrospective Denials Management Weaving together the Clinical, Technical, and Legal Components Glen Reiner, RN, BSN, VP of Clinical Operations Nicole Guido, VP Business Development Our goals for our time
More informationMemorial Hospital Administrative Policy
Administrative Policy TITLE: PURPOSE: Accounts Receivable Billing and Collections The following policy and procedure is to be followed for billing and collecting of patient accounts. The purpose of the
More informationGE Healthcare. Electronic data interchange and proactive services for Centricity revenue cycle management customers
GE Healthcare Electronic data interchange and proactive services for Centricity revenue cycle management customers Accelerate revenue perf Key features updates and other payer-specific adjustments are
More informationProtect and Improve Profitability in Your Practice. Positioning Your Organization for a RAC Audit
Protect and Improve Profitability in Your Practice Positioning Your Organization for a RAC Audit 2011 Annual Educational Seminar March 9, 2011 Presented By: Cindy Tipton-Cain, Exec. Director Physician
More informationWelcome UDS Review for Intergy CHC Jeff Urkevich Director of Health Solutions Health Choice Network
Welcome UDS Review for Intergy CHC Jeff Urkevich Director of Health Solutions Health Choice Network 1 Agenda Welcome Where is the UDS data Intergy POMIS Intergy EHR Practice Analytics cross walk Basic
More informationEvaluating CPSI s Accounts Receivable Management Services In Community Hospitals:
Evaluating CPSI s Accounts Receivable Management Services In Community Hospitals: Contributors to Success Sponsored by CPSI Reported by Porter Research January 2007 EXECUTIVE SUMMARY Computer Programs
More informationPresentation Agenda. Keith Lilek @ a Glance. Go Beyond Collections Starting Now! Keith Lilek, President 1-800-874-2848 klilek@arallegiance.
Go Beyond Collections Starting Now! Keith Lilek, President 1-800-874-2848 klilek@arallegiance.com 1 Presentation Agenda A Brief Background (About Us ) The A/R Management Landscape (About You ) The Reality
More informationBetter Analysis of Revenue Cycle and Value-Based Purchasing Data Improves Bottom Line
Better Analysis of Revenue Cycle and Value-Based Purchasing Data Improves Bottom Line Written by Katy Smith Senior Business Analyst Health Care DataWorks Better Analysis of Revenue Cycle and Value-Based
More informationMANAGING THE REVENUE CYCLE WITH BUSINESS INTELLIGENCE: June 30, 2006 BUSINESS INTELLIGENCE FOR HEALTHCARE
MANAGING THE REVENUE CYCLE WITH BUSINESS INTELLIGENCE: June 30, 2006 BUSINESS INTELLIGENCE FOR HEALTHCARE Hospital manager and leadership positions face many challenges in today s healthcare environment
More informationNew York University School of Medicine Faculty Group Practice Billing and Collection Policies
New York University School of Medicine Faculty Group Practice Billing and Collection Policies General Policy Statement New York University School of Medicine Faculty Group Practice (NYUSM- FGP) oversees
More informationScheduler processes appointment request based on patient s insurance coverage.
Medicare, Blue Cross Blue Shield, In-Network Commercial Insurance (Continued on page 2) Physician/Physician s Office calls to schedule a patient s appointment. Medicaid (Continued on page 3) Scheduler
More information4C s Clinic Billing and Collection Policy
4C s Clinic Billing and Collection Policy -Approved GB 07/28/11 -Effective 10/01/11 The 4C s Clinic expects patients to pay their outstanding balances in a timely manner. A bill for services is based on
More informationCHAPTER 17 CREDIT AND COLLECTION
CHAPTER 17 CREDIT AND COLLECTION 17101. Credit and Collection Section 17102. Purpose 17103. Policy 17104. Procedures NOTE: Rule making authority cited for the formulation of regulations for the Credit
More informationUnpaid Claims Management
Unpaid Claims Management National Association of Community Health Centers (NACHC) 7200 Wisconsin Avenue, Suite 210 Bethesda, MD 20814 301-347-0400 301-347-0459 FAX www.nachc.com AGENDA Introduction Clean
More informationEffective Revenue Cycles Are No Accident
Effective Revenue Cycles Are No Accident ICAHN Boot Camp October 10, 2014 Jerrie K. Weith, FHFMA, CMPE, CMOM Learning Objectives Characteristics of Best Performers Efficient Encounters = Revenue Cycle
More informationRevenue Cycle Management. A Primer for School Based Health Care Centers Presented By Jane Speyer, Senior Billing Manager OCHIN
Revenue Cycle Management A Primer for School Based Health Care Centers Presented By Jane Speyer, Senior Billing Manager OCHIN Discussion Overview The Revenue Cycle demystified: How do appointments turn
More informationCoventry receives claims in two ways:
Coventry receives claims in two ways: Paper Claims Providers send claims to the specific Coventry PO Box, which are keyed by our vendor and sent via an EDI file for upload into IDX. Electronic Claims -
More informationKey Performance Indicators for Physician Practices. Sam Eddy Director, Physician Practice Consulting, QHR
Key Performance Indicators for Physician Practices Sam Eddy Director, Physician Practice Consulting, QHR You can ask a question by clicking the blue? icon or through the orange speech bubble icon. 2 Evaluate
More informationUsing Computer Assisted Audit Techniques For More Effective Compliance Auditing and Monitoring In Healthcare Organizations
Using Computer Assisted Audit Techniques For More Effective Compliance Auditing and Monitoring In Healthcare Organizations Author: Glen C. Mueller, Chief Audit & Compliance Officer, Scripps Health, San
More informationOverview of Telehealth Revenue Cycle Management Issues
Overview of Telehealth Revenue Cycle Management Issues April 15, 2013 Kevin Derrick, President Basis for my presentation 13 years in healthcare spanning entrepreneurial, informatics, operational, and executive
More informationFinancial Accounting and Management Reports
Financial Accounting and Management Reports To manage a medical practice effectively, whether it be a solo or a group practice, the practitioner and its managers and advisors must have continual access
More informationPortfolio Reviews: Unleashing the Power of External Data Sets and Predictive Analytics TRANSUNION WHITE PAPER TRANSUNION HEALTHCARE WHITE PAPER
TRANSUNION WHITE PAPER TRANSUNION HEALTHCARE WHITE PAPER Portfolio Reviews: Data-Driven Monitor for Risk, Healthcare Catalyst Decisioning: for Action By Ezra D. Becker, Director, Consulting and Strategy,
More information2010 BCBSNC Provider Conference Top 20 Questions Answers
Questions Answers There is currently no centralized listing of all out-of-state Blue Plan alpha prefixes. There is a listing available for BCBSNC alpha prefixes only; please contact your Provider Relations
More informationHow Saint Joseph s Hospital of Atlanta Uses Better Management and Reporting to Improve Productivity and Relations with Third-Party Vendors
How Saint Joseph s Hospital of Atlanta Uses Better Management and Reporting to Improve Productivity and Relations with Third-Party Vendors February 2012 Agenda What is Outsourcing Management St. Joseph
More information1.1 Applicable Entities: This policy applies to Texas Health Rockwall. 1.2 Applicable Departments: This policy applies to all departments.
Policy Name: Charity Care Program Owner : President, VP Revenue Cycle Effective Date: 6/19/13 Approved By: Texas Health Rockwall Board of Trustees Last Reviewed Date: 10/16/2013 ; 2/4/14 Page 1 of 11 1.0
More informationTennessee Primary Care Association: 2014 Annual Leadership Conference
CPAs & ADVISORS experience momentum // SETTING YOUR ORGANIZATION UP FOR SUCCESS: UNDERSTANDING THE COMPLEXITIES OF THE FQHC REVENUE CYCLE Tennessee Primary Care Association: 2014 Annual Leadership Conference
More informationRevenue Cycle Management
Revenue Cycle Management ~Becoming a patient focused but metrics driven Revenue Cycle team~ Presented by: Kimberly Moore Director, Health Care Revenue Cycle Consulting 701.239.8673 kmoore@eidebailly.com
More informationThe Big Data Dividend
The Big Data Dividend Enhancing Revenue in an Era of Change May 7, 2015 Agenda Big Data Sample Healthcare Big Data Sets Healthcare Applications of Big Data Revenue Enhancement Opportunities Rate Benchmarking/Rate
More informationRevenue Cycle Objectives Challenges Management Goals and Expected Benefits Sample Metrics Opportunities Summary Solution Steps
Common Findings Revealed: Revenue Cycle Review John Bartell, RN, BSN, Partner Tina Nazier, MBA, Director Wipfli LLP Topics for Discussion Revenue Cycle Objectives Challenges Management Goals and Expected
More informationC. This policy defines how AHC communicates to patients regarding amounts due for services rendered by AHC.
Facility: Advocate Health Care Title: Billing and Collections Policy Effective Date: 12/1/2015 Policy Procedure Guideline Other: Scope: System Site: Department: I. PURPOSE AND POLICY A. The fundamental
More informationHEALTHCARE REFORM CARE DELIVERY AND REIMBURSEMENT MODELS. April 10, 2014
HEALTHCARE REFORM CARE DELIVERY AND REIMBURSEMENT MODELS April 10, 2014 1 MARKETPLACE UPDATE 2 MARKETPLACE - ESSENTIAL HEALTH BENEFITS 3 MARKETPLACE - METAL LEVELS 4 WHAT IS THE HEALTH INSURANCE MARKETPLACE
More informationCoastal Health & Wellness Clinic Billing and Collection Policy
Coastal Health & Wellness Clinic Billing and Collection Policy Approved GB 10/01/2015 -Effective 08/24/2014 The Coastal Health &Wellness Clinic is committed to ensuring everyone in Galveston County receives
More informationHealthcare Debt Sales
Slide Presentation: Healthcare Debt Sales Tips to Boost Revenue and Effectively Manage Patient Relationships From Live Webinar on February 14, 2013 Healthcare Debt Sales: Tips to Boost Revenue & Effectively
More informationRegular monitoring and reporting of key financial indicators are
Information Bulletin #3 F inancial Management Information Bulletin #3 FM National Association of Community Health Centers, Inc. FINANCIAL MANAGEMENT SERIES For more information contact: Eric S. Holzberg
More informationHow to Leverage Data Analytics in Healthcare Auditing
Feature How to Leverage Data Analytics in Healthcare Auditing Unleash the power of the computer to vastly improve your audit reach By Scot Murphy, CFE, CIA, ACDA, and Tom Stec, CIA, ACDA Healthcare auditing
More informationUsing Six Sigma Concepts to Improve Revenue Cycle
Using Six Sigma Concepts to Improve Revenue Cycle Presented by Joseph Koons, MHSA, FHFMA, CRCE-I Managing Director, Revenue Cycle Centra Health Lynchburg Virginia March 4, 2014 Agenda Introduction to
More informationAccelerating your Revenue Cycle: From Patient Encounter Through Account
Accelerating your Revenue Cycle: From Patient Encounter Through Account Resolution Anders Health Care Webinar Series July 17th, 2013 Jerrie K. Weith, FHFMA, CMPE Chastity D. Werner, RHIT, CMPE, NCP Learning
More informationOBJECTIVES. Session 115 How to Manage Accounts Receivable & Cash Flow. M. Aaron Little, CPA. Melinda A. Gaboury, COS-C.
Session 115 How to Manage Accounts Receivable & Cash Flow Melinda A. Gaboury, COS-C Healthcare CPAs Provider & ADVISORS Solutions, Inc. Chief Executive Officer mgaboury@healthcareprovidersolutions.com
More informationERA Manager Implementation. Andrea Frost
ERA Manager Implementation Andrea Frost Agenda Populate ERA Data Utility ERA Manager Demo Setting up a customer for ERA Manager Training your customer on ERA Manager ERA Manager and Task Manager Integration
More informationGE Healthcare. Proven revenue cycle management supporting profitability in an era of healthcare reform.
GE Healthcare Proven revenue cycle management supporting profitability in an era of healthcare reform. Enterprise-ready Profitability, efficiency, and enhanced quality of care A proven, next-generation
More informationInterventional Pain Management 2007 Benchmark Survey
Interventional Pain Management 2007 Benchmark Survey Date Section One: General Information Geographic location (select one) Return Deadline - vember 12, 2007 Eastern: (Connecticut, Delaware, District of
More informationThe Power of Business Intelligence in the Revenue Cycle
The Power of Business Intelligence in the Revenue Cycle Increasing Cash Flow with Actionable Information John Garcia August 4, 2011 Table of Contents Revenue Cycle Challenges... 3 The Goal of Business
More informationIN AMERICA, HEALTH CARE COSTS
Impacts & Innovations Cynthia Plonien Six Sigma for Revenue Retrieval EXECUTIVE SUMMARY Deficiencies in revenue retrieval due to failures in obtaining charges have contributed to a negative bottom line
More informationDenials Management: Key Assessment Steps to Prevent and Recover Repetitive Revenue Leakage
Industry Landscape An aging U.S. population is fueling increased demand for hospital beds and healthcare services. However, with several years of shrinking margins and falling bond ratings for many hospitals,
More informationCaryl A. Serbin President and Founder Serbin Surgery Center Billing, LLC and. Becky Ziegler-Otis
1 Presented by Caryl A. Serbin President and Founder Serbin Surgery Center Billing, LLC and Becky Ziegler-Otis Administrator Ambulatory Surgical Center of Stevens Point 2 ASC STEVENS POINT Days in A/R
More informationMAXIMIZING COLLECTIONS
MAXIMIZING COLLECTIONS Janice Rutter, Director, Support Services, Merge Healthcare Jon Neal, Ph.D., Vice President, InstaMed Mark Snow, Vice President, RevSpring (formerly PSC Info Group) Tracy Sanders,
More informationUnderstanding Revenue Cycle Strategy How to Optimize Process and Performance
Understanding Revenue Cycle Strategy How to Optimize Process and Performance White Paper 1.800.4BEACON BeaconPartners.com BOSTON CLEVELAND SAN FRANCISCO TORONTO The revenue cycle can no longer be seen
More informationThe Impact of Accountable Care Organizations on the Healthcare Industry. Dale Maxwell Senior Vice President & CFO Presbyterian Healthcare Services
The Impact of Accountable Care Organizations on the Healthcare Industry Dale Maxwell Senior Vice President & CFO Presbyterian Healthcare Services Agenda The Case for Change A New Idea, The ACO Characteristics
More informationBusiness Service and Process Outsourcing. Metropolitan Business Solutions
MBS Business Service and Process Outsourcing Who We Are! A provider of business service and process outsourcing committed to enhancing our clients profitability reducing the cost of business operations
More informationIntelligent EDI Next-Generation Revenue-Cycle Management Capabilities All within the EDI Data Stream
White Paper Intelligent EDI Next-Generation Revenue-Cycle Management Capabilities All within the EDI Data Stream Optum www.optum.com Page 1 White Paper The health care industry s transition to the 5010
More informationEMDEON REVENUE OPTIMIZATION SERVICES
EMDEON REVENUE OPTIMIZATION SERVICES TRANSFORM PREVIOUSLY WRITTEN-OFF PAYER UNDERPAYMENTS INTO REALIZED REVENUE Simplifying the Business of Healthcare Simplifying the Business of Healthcare Helping increase
More informationUniversity of Mississippi Medical Center. Access Management. Patient Access Specialists II
Financial Terminology in Access Management University of Mississippi Medical Center Access Management Patient Access Specialists II As a Patient Access Specialist You are the FIRST STAGE in the Revenue
More informationRevenue Cycle Management Services. QTAT Team: Integrity, Honesty, Efficiency and Communication Skills
Revenue Cycle Management Services QTAT Team: Integrity, Honesty, Efficiency and Communication Skills R C M S Medical Coding Medical Billing Account Receivables QTAT BPO Solutions Inc is a business process
More informationAccountable Care Organizations and Shared Savings Programs (What are they and how do they differ)
Accountable Care Organizations and Shared Savings Programs (What are they and how do they differ) Presentation to: House Health Care Committee January 30, 2015 Georgia Maheras, Esq. Director, Vermont Health
More information6 Critical Impact Factors of Health Reform on Revenue Cycle Management Pyramid Healthcare Solutions Thought Leadership Series
6 Critical Impact Factors of Health Reform on Revenue Cycle Management Pyramid Healthcare Solutions Thought Leadership Series The healthcare industry is undergoing significant change in the face of the
More information6 Critical Impact Factors of Health Reform on Revenue Cycle Management
6 Critical Impact Factors of Health Reform on Revenue Cycle Management Pyramid Healthcare Solutions Thought Leadership Series The healthcare industry is undergoing significant change in the face of the
More informationRevenue Cycle Management
Revenue Cycle Management Optimized Have you heard about Revenue Cycle Management (RCM)? It is the process of managing the healthcare revenue cycle within your office that typically results in increased
More informationREVENUE CYCLE MANAGEMENT (RCM) Bob Strickland Consultant R Strickland & Associates LLC
REVENUE CYCLE MANAGEMENT (RCM) Bob Strickland Consultant R Strickland & Associates LLC REVENUE CYCLE MANAGEMENT WHAT S THE BIG DEAL? Productivity = Efficiency + Effectiveness How much input (cost) is needed
More informationTHE CITY OF VIRGINIA BEACH AND THE SCHOOL BOARD OF THE CITY OF VIRGINIA BEACH
THE CITY OF VIRGINIA BEACH AND THE SCHOOL BOARD OF THE CITY OF VIRGINIA BEACH OPTIMA November 7, 2013 TABLE OF CONTENTS Executive Summary... 1 Process Overview... 4 Areas of Testing... 5 Site Visit Selection...
More informationMaking the right choice: Evaluating outsourced revenue cycle services vendors
Making the right choice: Evaluating outsourced revenue cycle services vendors Page 1 Managing resources at today s hospitals and health systems is an ongoing challenge, considering the numerous clinical
More informationINSURANCE BILLING & COLLECTIONS PROCEDURES
INSURANCE BILLING & COLLECTIONS PROCEDURES I. PURPOSE: To establish logical, consistent methods of billing and collections follow-up for Insurance balances to ensure that all staff members possess a good
More informationClose the gap between care and reimbursement.
Close the gap between care and reimbursement. Focus on care, rather than collections Efficiency is critical to building value within a physician organization. Large integrated physician organizations function
More informationr e v e n u e Enhanced Collection Processing with the Right Software and Workflow Tools cycle
Enhanced Collection Processing with the Right Software and Workflow Tools r e v e n u e cycle David Burton Executive Director, Clarian Health Partners Robert M. Zimmerman, President/COO, The CSC Group
More informationACO s as Private Label Insurance Products
ACO s as Private Label Insurance Products Creating Value for Plan Sponsors Continuing Education: November 19, 2013 Clarence Williams Vice President Client Strategy Accountable Care Solutions Today s discussion
More informationEMDEON REVENUE CYCLE MANAGEMENT SOLUTIONS
EMDEON REVENUE CYCLE MANAGEMENT SOLUTIONS Simplifying the Business of Healthcare Simplifying the Business of Healthcare One partner for integrated, end-to-end Revenue Cycle Solutions Managing the revenue
More informationImplementing KPIs in your Ambulance Billing Department. By Donna Magnuson. Whitepaper
$ $ $ Implementing KPIs in your Ambulance Billing Department By Donna Magnuson Whitepaper Implementing KPIs in your Ambulance Billing Department Key Performance Indicators (KPIs) are quantifiable measurements
More informationRevenue Cycle Management: It Takes a Village. Problem Statement
Revenue Cycle Management: It Takes a Village AHRA 38 th Annual Meeting August 24, 2010 Patricia R. Blank, Executive Vice President, InSight Imaging Nancy Walker, Executive Director, RCM, Insight Imaging
More informationClaims Modernization for the Reform Era. Elizabeth Hart, Healthcare Principal, Pegasystems Terry Weber, Healthcare Executive, Pegasystems
Claims Modernization for the Reform Era Elizabeth Hart, Healthcare Principal, Pegasystems Terry Weber, Healthcare Executive, Pegasystems March 30, 2011 Speaker Introduction Elizabeth Hart 25 years in Healthcare
More informationTop Ten Questions. Time and Energy. Robin Bradbury 800-355-0410 robin@ereso.com
Robin Bradbury 800-355-0410 robin@ereso.com Top Ten Questions 1. What are the key measures for the Revenue Cycle? 2. How do you document and share this information with the Revenue Cycle staff? 3. What
More informationBILLING MANAGER INDICATORS: HOW DOES YOUR ORGANIZATION STACK UP?
CPAs & ADVISORS experience direction // BILLING MANAGER INDICATORS: HOW DOES YOUR ORGANIZATION STACK UP? OHIO ASSOCIATION OF COMMUNITY HEALTH CENTERS ~ 2014 ANNUAL CONFERENCE Wednesday, March 12, 2014
More informationFINAL EDITKPG REVENUE CYCLE MANAGEMENT, INC. KPG REVENUE CYCLE MANAGEMENT, INC. SERVICES JANUARY 2015
FINAL EDITKPG REVENUE CYCLE MANAGEMENT, INC. KPG REVENUE CYCLE MANAGEMENT, INC. SERVICES JANUARY 2015 KPG Revenue Cycle Management, Inc. 1/1/2015 Revenue Cycle Management Consulting The KPG team delivers
More information6 Critical Impact Factors of Health Reform on Revenue Cycle Management
6 Critical Impact Factors of Health Reform on Revenue Cycle Management Pyramid Healthcare Solutions Thought Leadership Series The healthcare industry is undergoing significant change in the face of the
More informationMONTEFIORE MEDICAL CENTER The University Hospital for the Albert Einstein College of Medicine. SUBJECT: Collection Policy/Bad Debt
MONTEFIORE MEDICAL CENTER The University Hospital for the Albert Einstein College of Medicine POLICY AND PROCEDURE SUBJECT: Collection Policy/Bad Debt NUMBER: 30 OWNER: Health Service Receivables EFFECTIVE
More informationusing data analytics to identify revenue at risk
FEATURE STORY REPRINT September 2013 Courtney Thayer Jerry Bruno Mary Beth Remorenko healthcare financial management association hfma.org using data analytics to identify revenue at risk Predictive and
More informationSeven revenue-driving best practices
NextGen Revenue Cycle Management Seven revenue-driving best practices 1 2 3 4 5 6 7 Self-pay Collections Measuring Performance Claims Scrubbing Track and Prevent Denials Create and Enforce Write-off Policy
More informationDenial Management Process. Strategies to ensure that claims are received and PAID!!
Denial Management Process Strategies to ensure that claims are received and PAID!! Why is Denial Management critical? The current medical practice s path to survival and success 2 . Climbing Cost of Denials
More informationJob Description Billing and Coding Associate
Practice Name Job Description Billing and Coding Associate Purpose: The job description of Billing and Coding Associate is a written statement that identifies a job title and its related principal duties
More informationCoordinating Transitions of Care: It Takes a Village
Coordinating Transitions of Care: It Takes a Village Ken Laube RN, BSN, MBA: Vice President Clinical Excellence Situation/Background Patients face significant challenges when moving from one health care
More informationThe Power of Metrics Part Two. By Rob Borchert, CPAM Altarum Institute: Revenue Cycle Management Practice
The Power of Metrics Part Two By Rob Borchert, CPAM July 2009 The Power of Metrics Part Two By Rob Borchert, CPAM Altarum Institute: Revenue Cycle Management Practice July 2009 THE POWER OF METRICS PART
More information