The Power of Revenue Management
|
|
- Alexia Robertson
- 8 years ago
- Views:
Transcription
1 The Power of Revenue Management Presented By Judy Capko Capko & Company The Power of Revenue Management 6/13/07 1
2 About the Speaker The Power of Revenue Management 6/13/07 2
3 The Speaker: Judy Capko A healthcare consultant and author of the run away topselling book Secrets of the Best-Run Practices. More than 20 years experience as a practice administrator and consultant. Emphasis on building patient-centered strategies, maximizing resources, and improving operational and financial performance. Hundreds of physicians and administrators have benefited from her advice and innovative, energetic approach to organizational management and strategic planning. National recognition in her field, working with both small and large practices, as well as major academic faculty practices from coast to coast. Popular speaker for major healthcare conferences such as MGMA, national specialty associations, healthcare systems, regional medical societies and healthcare executive summits. The Power of Revenue Management 6/13/07 3
4 Course Objectives Discuss key components of the financial mindset Review essential processes to get paid for what YOU do! Learn how to analyze collection performance Discover the importance of data to guide decision-making The Power of Revenue Management 6/13/07 4
5 The Revenue Chain Everybody Has A Role Patient Scheduler Receptionist Clinical Staff Physician Cashier Insurance Biller Collector Manager The Power of Revenue Management 6/13/07 5
6 Financial Mindset Capturing Charges Revenue Recovery Profitability The Power of Revenue Management 6/13/07 6
7 Financial Mindset Step 1 Financial Mindset Step I: Capturing Charges 1. Contracting & Eligibility 2. Coding and Documentation 3. Charge Reporting The Power of Revenue Management 6/13/07 7
8 Contracting Issues Who Will You Contract With? Is this a major player? Is the contracting agent solvent? Will you lose market share if you don t sign on? Are the Terms Acceptable? Educating Staff! The Power of Revenue Management 6/13/07 8
9 Practical Contracting Issues Reviewing Relevant Documents Credential and grievance QA & UM Are the Terms Reasonable? Coverage expectations Charge submission and payment timing In and out clauses Any Deal Busters? The Power of Revenue Management 6/13/07 9
10 Patient Registration Respect it! Patient s First Financial Document Is the form user friendly? Does it ask for essential information? Is it reviewed when it is completed? Legibility, accuracy, missing information Is it updated annually? The Patient Encounter Is information verified at each visit? The Power of Revenue Management 6/13/07 10
11 Front End Pre-Authorization Are Your Processes Well Defined? Who obtains it? Is there consistent documentation? Do they know the requirements? Are there check points? Is there accountability? The Power of Revenue Management 6/13/07 11
12 Accurate Coding of Services Is Charge Documentation Effective? Office charge ticket Hospital charge card Do all Caregivers take Responsibility? Is There a Resident Coding Expert on Staff? The Power of Revenue Management 6/13/07 12
13 Financial Mindset Step 2 Financial Mindset Step 2: Revenue Recovery 1. Claims Submission and Patient Billing 2. Reimbursement Management 3. Collection Management The Power of Revenue Management 6/13/07 13
14 Timely Charge Submission Charge Entry Office: 1 2 Days In Patient: 2 5 Days Billing Submission Office: 3 4 Days In Patient: 3 10 Days Surgery: 3 14 Days Why not raise the bar? The Power of Revenue Management 6/13/07 14
15 Monitoring Charge Reporting Performing an Audit Appointment record Chart notes Charge slip Patient ledger Explanation of benefits Are charges missed? Is coding accurate? How costly are your errors? *Cost to rework a claim = $22 *Source: Univ. of Utah Medical Group, Ingenix Conference 2004 The Power of Revenue Management 6/13/07 15
16 Coding Patterns The Bell Curve Comparative Established Patient The Power of Revenue Management 6/13/07 16
17 Billing & Collection Procedures Financial Policies Are they in writing? Are they adhered to? Are the payment policies posted and/or available for patients? Collection Activities Third party (such as Transworld Systems) Non-covered services Patient responsibility Monitoring QC / backlog The Power of Revenue Management 6/13/07 17
18 Comparing Practice to National Benchmarks Maintow n Urology Percentage Collection Comparisons 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% Dec-04 Aug-05 MGMA NAHC %Collections The Power of Revenue Management 6/13/07 18
19 Revenue Management Benchmarks Best Practices: Will vary by specialty Months in A/R = 1.5 to 2 Total A/R = less than two times monthly charges Aged A/R 90+ days = less than 20% of total Collection ratio = 95% of *adjusted charges *Adjusted charges refers to charges minus contractual adjustments The Power of Revenue Management 6/13/07 19
20 Practice Productivity ABC FAMILY CARE , ,000 95,000 CHARGES 75,000 RECEIPTS ADJUSTMENTS 55,000 35,000 15,000 JAN FEB MAR APR MAY JUNE JULY AUG SEPT OCT NOV DEC The Power of Revenue Management 6/13/07 20
21 Spot Red Flags Dr. Nice Guy Monthly Activity $140,000 $120,000 $100,000 $80,000 $60,000 Charge Receipts Adjust $40,000 $20,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov The Power of Revenue Management 6/13/07 21
22 Dig Deeper Spike in adjustments Stockpiling adjustments Bad debt write offs Improper write offs Embezzlement Decline in receipts Poor payer performance Claims rejection Delayed payment posting Embezzlement The Power of Revenue Management 6/13/07 22
23 Analyze Patient Collections Over the counter (OTC) payments Co pays Old balances Patient responsibility Deductibles Non-covered charges The Power of Revenue Management 6/13/07 23
24 Establish OTC Collection Goals OTC Payments Average daily OTC collections Payment as % of patient s balance % of patients that paid the visit co-pay Historical performance $406 12% 55% 30 days target 50% 80% 60 day target 70% 100% 90 day target 90% 100% The Power of Revenue Management 6/13/07 24
25 Patient Payments Your patient statement Is it patient-friendly? Easy to understand Cycle billing Account follow-up Dunning messages Who does what and when? The Power of Revenue Management 6/13/07 25
26 Insurance Reimbursement Analysis Scrutinize EOBs Proper Payment Reasons for payment denial major carriers Collection Rates by Individual Payer/Provider Payment timing trends Contractual & bad debt write-offs Aging by Payer Class The Power of Revenue Management 6/13/07 26
27 120 Days Aged Payer Mix MEDICARE HMO 73% 9% 7% 11% PPO OTHER The Power of Revenue Management 6/13/07 27
28 Comparing Adjustments By Payer / By Doctor Dr. A Dr. B Dr. C Red Flags: Aetna Blue X Cigna Medicare 1) Cigna adjustments higher 2) Dr. B adjustments higher than Dr. A / C Why? The Power of Revenue Management 6/13/07 28
29 Compare Average Reimbursement Top 7-10 Codes / Top 5 Payers (by utilization) CPT Codes *Hassle factor Bl X Aetna Cigna ABC PPO Medicare *Assign 1 point for each hassle factor for a maximum of 5 points. The higher the points, the poorer the performance. Zero is best! The Power of Revenue Management 6/13/07 29
30 The Hassle Factor Examine the Indicators Requires repeated requests for referral or authorization Slow down in claims processing Delay or errors in payment Patients and/or employees complain about the insurance company / the plan Provider relations support is sub-standard The Power of Revenue Management 6/13/07 30
31 The Patient & Finances Communication Financial policies Patient responsibility Staff responsibility Patient statements Your Role as Patient Advocate The Patient s Role as Your Advocate The Power of Revenue Management 6/13/07 31
32 Tips On Billing Cycle Management Cycle billing Better work flow Better cash flow Dunning messages Prompt action & accountability Keep your word Make sure they keep their word The Power of Revenue Management 6/13/07 32
33 Staff - Physician Team Understanding THEIR Role Knowledge of Financial Policies Supporting Financial Policies Continued Education Staying Current Communication Accountability The Power of Revenue Management 6/13/07 33
34 Financial Mindset Step 3 Financial Mindset Step 3: Profitability 1. Cost Containment 2. Operational Efficiency 3. Customer Service The Power of Revenue Management 6/13/07 34
35 Making Data Driven Decisions Examining Historical Patterns & Shifts Patient and payer mix Provider performance Payer performance Practice Composition Has it changed and if so, why? Can we influence it do we want to? Profitability Productivity and overhead The Power of Revenue Management 6/13/07 35
36 Family Practice Benchmarks Description *National Benchmark Your Practice Variance Action Plan Gross Charges $543,157 Adjustments 163,941 = 29.7% Receipts $433,383 Operating Expense $248, % Net Profit $186,797 = 42.8% Total A/R $71,411 *NAHC Statistics Family Practice N=411 The Power of Revenue Management 6/13/07 36
37 Productivity Factors Effective Scheduling Realistic templates Room utilization Monitor and manage Cancellations and no shows Two a day: $100 ea. X 192 d = $38,000 a year Take control Time out of Office The Power of Revenue Management 6/13/07 37
38 Operational Efficiency Staff Training Tools Accountability Turnover Automation Facility The Power of Revenue Management 6/13/07 38
39 Step Cautiously Into The Future Build and Strengthen Relationships Payers, referral sources, patients Stay Current With Market Trends Monitor Business Performance Invest in Automation Develop a Strategic Plan Set and achieve performance goals Live your mission The Power of Revenue Management 6/13/07 39
40 Q&A The Power of Revenue Management 6/13/07 40
41 The Power of Revenue Management Presented By Judy Capko Capko & Company The Power of Revenue Management 6/13/07 41
Effective 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 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 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 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 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 informationAT&T Global Network Client for Windows Product Support Matrix January 29, 2015
AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 Product Support Matrix Following is the Product Support Matrix for the AT&T Global Network Client. See the AT&T Global Network
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 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 informationEmployed Physicians: Leadership Strategies for a Winning Organization
Employed Physicians: Leadership Strategies for a Winning Organization Ray Chorey Southeastern Ohio Regional Medical Center President and CEO Thomas Ferkovic SS&G Healthcare Managing Director Practice Comparison
More informationCOMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun
More informationCOMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun
More informationThe ROI of IT: Best Billing Practices
The ROI of IT: Best Billing Practices 1 R O S E M A R I E N E L S O N M G M A H E A L T H C A R E C O N S U L T I N G G R O U P The information and materials provided and referred to herein are not intended
More informationPractice Management Solutions. Empowering Podiatric Practices
Practice Management Solutions Empowering Podiatric Practices 1 Where do Practices Lose Money? 25%-35% revenue loss due to improper patient handling at the front office (missed phone calls, patient no-shows,
More informationGive Your Revenue Cycle a Boost Techniques to Improve Collections for Your Physician Practices
Give Your Revenue Cycle a Boost Techniques to Improve for Your Physician Practices Presented by: Alta Partners, LLC Stan Kasmarcak Susannah Selnick Lacy Sharratt June 8, 2015 2015 Ohio Hospital Association
More informationProvider Revenue Cycle Management (RCM) and Proposed Solutions
Provider Revenue Cycle Management (RCM) and Proposed Solutions By: Ranjana Maitra General Manager, Manufacturing & Healthcare Vertical Executive Summary It takes more than world-class service to be competitive
More informationAvoiding the Claims Denial Black Hole: Strategies to Accelerate and Maximize Claims Payments
Avoiding the Claims Denial Black Hole: Strategies to Accelerate and Maximize Claims Payments January 30, 2013 Carmen Elliott, MS American Physical Therapy Association Senior Director, Payment & Practice
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 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 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 informationPatient Billing & Insurance Information Q&A
Patient Billing Requirements Patient Billing & Insurance Information Q&A At your first visit our office you are required to bring your insurance card and driver s license. Our office will copy this information
More informationAnalysis One Code Desc. Transaction Amount. Fiscal Period
Analysis One Code Desc Transaction Amount Fiscal Period 57.63 Oct-12 12.13 Oct-12-38.90 Oct-12-773.00 Oct-12-800.00 Oct-12-187.00 Oct-12-82.00 Oct-12-82.00 Oct-12-110.00 Oct-12-1115.25 Oct-12-71.00 Oct-12-41.00
More informationProven Practice Management and EHR Solutions
Proven Practice Management and EHR Solutions The Smart Choice to Enhance Office Productivity, Profitability and Care Quality Your small practice faces big challenges. Finding time and resources to prepare
More informationCase 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8
Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138 Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 2 of 138 Domain Name: CELLULARVERISON.COM Updated Date: 12-dec-2007
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 informationWelcome. ICD-10 Road to Ten : ICD-10 Implementation Guidance
Welcome ICD-10 Road to Ten : ICD-10 Implementation Guidance Jean Stevens, RHIT, CCS-P AHIMA ICD-10 Ambassador and OSMA education consultant Melissa Little, Medicaid Health Systems Administrator, Ohio Medicaid
More informationRevenue Cycle. Management. The AdvancedMD Training & Companion Guide
Revenue Cycle Management The AdvancedMD Training & Companion Guide How to Use the Tools and Reports within AdvancedMD to Support Industry Standard Best Practices in Revenue Cycle Management Table of Contents
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 informationPatient Resource Guide for Billing and Insurance Information
Patient Resource Guide for Billing and Insurance Information 17 Patient Account Payment Policies July 2012 Update Lexington Clinic Central Business Office Payment Policies Customer service...2 Check-in...2
More informationPEBP and OneExchange
PEBP and OneExchange Complete your OneExchange Enrollment Important! Soon, you will be eligible for Medicare and will have new health insurance options from which to choose. Towers Watson s OneExchange
More informationour group Mission Overview Offering
ABOUT OUR COMPANY Mission Infrahealth is dedicated to offering cost-effective infrastructure solutions tailored to achieve maximum results for healthcare professionals. We are focused on delivering medical
More informationHow to Conduct an Old Fashioned Practice Assessment
How to Conduct an Old Fashioned Practice Assessment Why The Need For An Assessment No such thing as the perfect medical practice Need to improve the bottom line Need to improve physician compensation Need
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 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 informationRevenue Cycle Management Excellence Easily improving bottom line!!!!!
Revenue Cycle Management Excellence Easily improving bottom line!!!!! SN Academy Seminar 9 th May 2014 PRR 5/5/14 Revenue Cycle Management ; Are you doing it right? Are you earning what you deserve? Do
More informationComputing & Telecommunications Services Monthly Report March 2015
March 215 Monthly Report Computing & Telecommunications Services Monthly Report March 215 CaTS Help Desk (937) 775-4827 1-888-775-4827 25 Library Annex helpdesk@wright.edu www.wright.edu/cats/ Last Modified
More informationHow to Improve Your Revenue Cycle Processes in a Clinic or Physician Practice
How to Improve Your Revenue Cycle Processes in a Clinic or Physician Practice Janice Crocker, MSA, RHIA, CCS, CHP Introduction Reimbursement for medical practices has been impacted by various trends and
More informationHow To Improve Your Revenue From A Medical Billing Service
WHY OUTSOURCE YOUR MEDICAL BILLING? What Are There Real & Tangible Benefits? Why outsourcing your medical billing can bring you peace of mind and increased prosperity? A sk any healthcare provider practicing
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 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 informationRevenue Cycle Management Process
OVERVIEW It is important for everyone involved in the billing cycle process to be familiar with how each step of the encounter provides opportunities to assure successful and compliant billing. The purpose
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 informationEnhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017
From -JAN- To -JUN- -JAN- VIRP Page Period Period Period -JAN- 8 -JAN- 8 9 -JAN- 8 8 -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -FEB- : days
More informationRevenue Cycle Management Best Practices. Presenter: Rich Flaherty, VP of Sales
Revenue Cycle Management Best Practices Presenter: Rich Flaherty, VP of Sales RCM Best Practices Overview Patient engagement Front office processing Managing your provider s credentialing and enrollment
More informationAppendix A Denial Management and Negotiation Hearing Screening
Appendix A Denial Management and Negotiation Hearing Screening Ideally, hearing screenings should be covered benefits that are separately payable by the health plan. While health plan benefits may include
More informationChecklists in the Revenue Cycle
Checklists in the Revenue Cycle Kathy Puziak PMP CMPE KPG Revenue Cycle Management, Inc. 2014 KPG Revenue Cycle Management, Inc. All rights reserved. This presentation does not constitute a representation
More informationUS Health and Life Insurance Company Overview
US Health and Life Insurance Company Overview Who is US Health and Life Insurance Company? Part of a family of companies committed to the goal of improving the employee benefit experience. We have the
More informationOur Billers Collect More & Faster
Our Billers Collect More & Faster advancedbiller ADP ADVANCEDMD PARTNER PROGRAM we are experts experienced your medical billing solution Diversified Reimbursement Systems, Inc. WHO WE ARE Diversified Reimbursement
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 informationOptimizing Business Office Operations. Presented By D. Paul Davis, CPA, CMA
Optimizing Business Office Operations Presented By D. Paul Davis, CPA, CMA ASC Challenges Declining reimbursement Increasing costs Increased competition More government regulations Changing technology
More informationZimmer Payer Coverage Approval Process Guide
Zimmer Payer Coverage Approval Process Guide Market Access You ve Got Questions. We ve Got Answers. INSURANCE VERIFICATION PROCESS ELIGIBILITY AND BENEFITS VERIFICATION Understanding and verifying a patient
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 informationTitle goes here. Performance Management in the Rural Health Clinic. Idaho Bureau of Rural Health & Primary Care November 5, 2014 12:45 p.m. 1:45 p.m.
Performance Management in the Rural Health Clinic Idaho Bureau of Rural Health & Primary Care November 5, 2014 12:45 p.m. 1:45 p.m. Title goes here Jeff Johnson - CPA, Date Partner or subtitle Wipfli Health
More informationYou help your patients. We help you» DocComply streamlines your office so you can focus your energy on the what matters most your patients.
WHAT IS DOCCOMPLY? We are the all in one solution for Practice Management, Electronic Medical Records & Billing. DocComply simplifies and streamlines the clerical end of your practice as well as the clinical
More information10-Step ICD-10 Planning Guide for Chiropractors
10-Step ICD-10 Planning Guide for Chiropractors ICD-10 Education is necessary till Oct 1st. -Pick a Team Leader Consider: Articles, Should test ICD-10 readiness: -Explain ICD-10 Goals Websites, Webinars,
More informationPhysician Revenue Cycle and Compliance Preparing for the OIG
Physician Revenue Cycle and Compliance Preparing for the OIG 2014 Summer Institute Indiana Chapter, HFMA Katie Gilfillan Director HFP, Physician and Clinical Practice Sandra Wolfskill, FHFMA Director,
More informationUniversity of Iowa Hospitals & Clinics: Using Payer Contract Management to Improve Reimbursement
University of Iowa Hospitals & Clinics: Using Payer Contract Management to Improve Reimbursement June 18, 2013 Mari Anne Ehler Associate Director, Patient Financial Services UI Health Care Cindy Lowe-Johnson
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 informationBILLING COMPANY STANDARDS
BILLING COMPANY STANDARDS ASSESSING PRACTICE VALUE OF OUTSOURCING Cost Saving Efficiencies gained Improved collections Compliance Once a decision to out source is made the following due diligence should
More informationPresented by: Yvonne Dailey, CPC, CPC-I ALL RIGHTS REVERED
Presented by: Yvonne Dailey, CPC, CPC-I ALL RIGHTS REVERED 1 Disclaimer The material are offered as tools to assist the participants in understanding their revenue cycle. No part of the presentation may
More informationReports Pack. TherapySource and Rehab ToolKit. Version 1.1
Reports Pack TherapySource and Rehab ToolKit Version 1.1 February 2009 TABLE OF CONTENTS THERAPYSOURCE... 6 SCHEDULING REPORTS... 6 Appointment Card... 6 Daily Call List... 6 Daily Sign-In Sheet... 7 Cancelled,
More informationUniversity Healthcare Administrative Policy
Page 1 of 6 APPROVED BY: Signatures on File FINANCIAL POLICY (UH) is a not-for profit teaching hospital committed to providing quality health care services. In order to provide necessary medical services
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 informationEmpowering healthcare organizations with data, analytics and insight
Empowering healthcare organizations with data, analytics and insight Integrated patient access, claims and contract management and collections products and consultative services for redefining your healthcare
More information5 MUST-TRACK METRICS FOR PRACTICE PROFITABILITY
The late, legendary management expert Peter Drucker once famously said, If you can t measure it, you can t manage it. In today s challenging and rapidly evolving healthcare landscape, measurement is more
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 informationHOW TO PREVENT AND MANAGE MEDICAL CLAIM DENIALS TO INCREASE REVENUE
Billing & Reimbursement Revenue Cycle Management HOW TO PREVENT AND MANAGE MEDICAL CLAIM DENIALS TO INCREASE REVENUE Billing and Reimbursement for Physician Offices, Ambulatory Surgery Centers and Hospitals
More informationMedicare & UC Medical Benefits
Medicare & UC Medical Benefits UCSB Health Care Facilitator Program Laura Morgan 893-4201 UC Retirement Administration Service Center (RASC) 1-800-888-8267 This presentation is intended for communication
More informationSolutions for Your Practice
Solutions for Your Practice You have challenges. We have answers. If your small practice is like most, it s a challenge for you to maintain solid financial performance in this era of shrinking reimbursements
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 informationElectronic Transaction Savings Opportunities For Physician Practices
Electronic Transaction Savings Opportunities For Physician Practices Prepared by Technology and Operations Solutions Revised: January 2006 I. Introduction A physician who currently relies on paper and
More informationMaryland Board of Public Accountancy CPA Examination Application Process (August 1, 2012)
Maryland Board of Public Accountancy CPA Examination Application Process (August 1, 2012) This report has been prepared to review the CPA examination process administered by the Board of Public Accountancy
More informationCHOOSE MY BEST PLAN OPTION (PLAN FINDER) INSTRUCTIONS
CHOOSE MY BEST PLAN OPTION (PLAN FINDER) INSTRUCTIONS Anthem Medical Plan For Employees Working In the US February 10, 2012 Page 1 IMPORTANT NOTES YOU SHOULD CONSIDER BEFORE USING THE TOOL The Choose My
More informationMedical Assisting Review
Fifth Edition Medical Assisting Review Passing the CMA, RMA, and CCMA Exams Chapter 14 Medical Insurance 14-2 Learning Outcomes 14.1 Define terminology used in association with medical insurance. 14.2
More informationPEBP and Medicare. Public Employees Benefits Program
PEBP and Medicare Public Employees Benefits Program 901 South Stewart Street, Suite 1001 Carson City, NV 89701 mservices@peb.state.nv.us www.pebp.state.nv.us 775-684-7000 or 800-326-5496 Twitter@NVPEBP
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 informationNortheastern Pennsylvania Chapter, HFMA February 21, 2014. hfmamap.org
KEYS to Revenue Cycle Improvements: HFMA's Approach Sandra Wolfskill, FHFMA Director, Healthcare Finance Policy Revenue Cycle MAP Healthcare Financial Management Association Northeastern Pennsylvania Chapter,
More informationdoes your organization have a central business processing office?
MARCH 2010 healthcare financial management Brian K. Morton Marc D. Halley does your organization have a central business processing office? AT A GLANCE > A central processing office (CPO) is an alternative
More informationPART 3 CASH FLOW FORMULA:
PART 3 CASH FLOW FORMULA: And, now, back to the question that started this series: What is the secret to SUCCESSFULLY FORECASTING CASH? BY STEVEN D. LORDS FORECASTING CASH In Cash Flow Formula Part 1,
More information10/14/2015. Common Issues in Practice Management. Industry Trends. Rebecca Lynn Hanif, CPC,CPCO,CCS, CMUA AHIMA Approved ICD-10-CM/PCS Trainer
Common Issues in Practice Management Rebecca Lynn Hanif, CPC,CPCO,CCS, CMUA AHIMA Approved ICD-10-CM/PCS Trainer cpmresults.com Industry Trends cpmresults.com Patient Responsibility Patients are now responsible
More informationNHS BLOOD AND TRANSPLANT MARCH 2009 RESPONDING EFFECTIVELY TO BLOOD DONOR FEEDBACK
09/26 NHS BLOOD AND TRANSPLANT MARCH 2009 RESPONDING EFFECTIVELY TO BLOOD DONOR FEEDBACK EXECUTIVE SUMMARY From April 2009 an NHS wide common approach to complaint handling comes in to effect. This provides
More informationpractice management advisor
practice management advisor Spring 2014 Use templates to monitor financial performance 8 steps to implementing ICD-10 in your practice Group medical visits... still a viable option Placing a value on your
More informationEmployers Compliance with the Health Insurance Act Annual Report 2015
Employers Compliance with the Health Insurance Act Annual Report 2015 ea Health Council Health Council: Employers Compliance with the Health Insurance Act 1970 Annual Report 2015 Contact us: If you would
More informationBEST PRACTICES IN DENIAL MANAGEMENT
HFMA Northern California Spring Conference March 25, 2010 BEST PRACTICES IN DENIAL MANAGEMENT Triage. Beyond Your Expectations Agenda Presenters: Principal: Shawn Tienken Manager: Chris Clayton Introduction
More informationReal Time Adjudication (RTA) 70 Royal Little Drive Providence, RI 02904
Real Time Adjudication (RTA) 70 Royal Little Drive Providence, RI 02904 Copyright 2002-2009 Ingenix. 1 2 Overview The RTA feature helps simplify and enhance the efficiency of the claim submission process
More informationFrank L. Davis, General Deputy Assistant Secretary for Housing, H. //signed// Ronald J. Hosking, Regional Inspector General for Audit, 7AGA
Issue Date May 13, 2005 Audit Report Number 2005-KC-1006 TO: FROM: Frank L. Davis, General Deputy Assistant Secretary for Housing, H //signed// Ronald J. Hosking, Regional Inspector General for Audit,
More information6/6/2012. Best Practices to Improve Billing and Collections. Overview. On the Front End. Lisa Rock, President National Medical Billing Services
Best Practices to Improve Billing and Collections Lisa Rock, President National Medical Billing Services June 15, 2012 10 th Annual Orthopedic, Spine and Pain Management Driven ASC Conference: Improving
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 informationProvider Solutions. Sutherland Healthcare Solutions
Provider Solutions Sutherland Healthcare Solutions What is your TRUE RETURN? 2 The financial strength you need to offer great patient experience today and tomorrow. Our healthcare experts are ready to
More informationHealthcare Billing Guide:
Healthcare Guide Healthcare Billing Guide: Strategies to Master Insurance and Billing Published by www.dorlandhealth.com Tips on Understanding Your Medical Bill 1 Healthcare Billing Guide: Strategies to
More informationProvider Solutions. Sutherland Healthcare Solutions
Provider Solutions Sutherland Healthcare Solutions What is your TRUE RETURN? The financial strength you need to offer great patient experience today and tomorrow. Our healthcare experts are ready to partner
More informationInsurance and Banking Subcommittee
Insurance and Banking Subcommittee Citizens Depopulation Update September 16, 2015 Christine Ashburn VP Communications, Legislative and External Affairs 2 3 Depopulation Customer Communications 1. 40 days
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 informationERISA Copyright 2005 Steven M. Verno, CMBSI
ERISA Copyright 2005 Steven M. Verno, CMBSI WHAT IS ERISA: ERISA is a Federal Law called the Employee Retirement Income Security Act. It was enacted in 1974 to protect an employee s pension plan but as
More informationHow To File A Claim Electronically
Revenue Cycle Management: Tips & Tools 2010 Annual Educational Seminar March 10, 2010 Presented By: Cindy Tipton, Coding & Compliance Director cindy_tipton@med3000.com What is the Revenue Cycle or Life
More informationPractice Name. Job Description Billing, Insurance and Coding Specialist
Practice Name Job Description Billing, Insurance and Coding Specialist Purpose: The job description of Billing, Insurance and Coding Associate is a written statement that identifies a job title and its
More informationElements for Successful Immunization Billing Practice
Elements for Successful Immunization Billing Practice at New York State s Local Health Departments June 2012 New York State Department of Health Bureau of Immunization and Office of Public Health Practice
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 informationDear Potential Merchant,
Dear Potential Merchant, To apply for a Merchant Account at MIT, please complete this Business Plan/Application ( plan ). Once the Merchant Team reviews your plan, you will be notified of your status and
More informationGuide to Dental Benefit Plans
Guide to Dental Benefit Plans What are Dental Benefit Plans? Dental benefit plans are benefit plans provided by employers to help defray the cost of dental care. The term dental insurance is also used,
More information