Top Reasons Healthcare Organizations Are Turning To Workforce Extension Services
The revenue cycle management market is expected to grow at a compound annual growth rate of 7.2 percent from 2014 to 2019, and it is one of the functions healthcare providers outsource the most, according to a recent report from MicroMarket Monitor.
In a time of uncertainty about the future of healthcare in the United States, at least two issues are clear. First, the current system is flawed—at times delivering both too much and too little care that is often fragmented, poorly communicated, and expensive. Second, the incentives in still-pervasive fee-for-service payment models are the basis for many of these problems. The current policy antidote, consisting of alternative payment models such as accountable care organizations (ACOs), builds on the failed managed care experiment of the 1990s, again relying on a budget for a defined population of patients but this time with checks on quality, unrestricted patient choice, and attenuated financial risk. Although early studies of the model show only modest success thus far, ACOs now cover more than 32 million individuals in the United States through commercial and public contracts, and the federal government has indicated it will continue to emphasize this approach.
El Camino Hospital, located in the heart of Silicon Valley, has a problem. Its nurses, tending to patients amid a chorus of machines, monitors, and devices, are only human. One missed signal from, say, a call light—the bedside button patients press when they need help—could set in motion a chain of actions that end in a fall. “As fast as we all run to these bed alarms, sometimes we can’t get there in time,” says Cheryl Reinking, chief nursing officer at El Camino.
Now that hospitals are required to post chargemaster data online for patients to access, the Centers for Medicare & Medicaid Services is exploring the most effective ways to make sure providers comply with the rules.
So-called “micro-hospitals”–acute care facilities with six to 10 beds–could actually prove to be big moneymakers for healthcare systems.
Having a child in the NICU is understandably an emotionally trying time. For many families, the stress doesn't stop there. The NICU billing process is a delicate balance between the provider, hospital and payor, leaving the family often confused and frustrated. In this post, we'll provide 6 ways to improve your customer service related to insurance and alleviate the family's burden.
Today on the blog, Lynne Westergaard - our NICU revenue cycle expert, is sharing 4 potential revenue streams your NICU professional billing team may be missing. Before we get to Lynne's tips, we've made a couple of assumptions: