With all the disruptions to the nation’s healthcare system and the additional pressures put on all of us to respond to the growing pandemic causing COVID-19 infections, there is certainly more at stake than people’s safety and well being. As the virus spreads, the nation is facing massive unemployment not seen since the Great Depression. Financial uncertainties and issues with the medical supply chain in turn make our efforts even more difficult.
While you are working hard to protect the health and safety of your staff and patients during the battle with the novel coronavirus responsible for COVID-19 infections, you also need to pay attention to your bottom line and the financial health of your organization. Amidst uncertainty about how we will weather the global pandemic from a medical perspective, we have to prepare for the financial impact as well.
There are many aspects of MACRA, and it's important you're familiar with all of them.
It’s essential to pay close attention to the flow of revenue in your healthcare organization. And to that end, prudent managers will make sure that they use the right tools to gain insight into the revenue cycle and to manage the details.
Your healthcare organization needs tighter control over the flow of revenue and you are now preparing to deploy Revenue Cycle Management software in 2020. If you’re new to RCM applications or are curious about how RCM will integrate into your company’s existing computation infrastructure, it pays to become more familiar with the software and how it works. To help guide you in the decision-making process, here are the top features to look for in Revenue Cycle Management software for 2020.
The Electronic Medical Record The electronic medical record (EMR) has been evolving from the early days before the technology revolution took off after the turn of the century. The federal mandate that took effect on January 1, 2014, required the medical world to begin using electronic medical records for "meaningful use" as outlined by the mandate.
Reimbursements and Impatient Receivables Not a typo. With insurance reimbursements decreasing, providers are becoming impatient about ever-increasing patient responsibility amounts after insurance. Two things are needed: a way to ensure maximizing insurance reimbursements without over-coding, and an ability to accurately determine - in advance - what the patient will owe.
Medical Billing: Claim Submission and Follow Up "Medical billing is the process of submitting and following up on claims with health insurance companies in order to receive payment for services rendered," as stated on HBMA. Without submitting clean claims on a timely basis, it doesn't matter how many patients you see or how many services you render.
Radiology Information Systems (RIS) are essential software tools for radiological centers, groups, and clinics. Besides providing the software to securely store and access images and videos from scans, what do all the top RISs have in common?
Forecasts for Health Care Technology One area that is on the front burner of health care is the "push toward truly digitized health care," as found on Forbes. At Advanced Data Systems Corporation (ADS), we are hearing and reading how providers are "feeling the pain" with electronic health record (EHR) integration. We are here to help providers meet the challenges, and learn how to get the advantages an EHR offers.
Substance abuse treatment centers are finding it’s become a complicated - even dangerous - world of reduced insurance reimbursements resulting in continually increasing patient / client receivables. In some cases, personal responsibility amounts are equaling, or even exceeding, what insurance reimburses.