“The lift on our end was minimal and the benefit to cash was immediate.”Matthew Stojakovich, Executive Director Revenue Cycle Shared Services, University of Miami Health System
The current healthcare environment is extremely unpredictable, and revenue cycle managers (RCMs) at hospitals are facing more pressure and complexity than ever before. From technology transformation and AI adoption to…
In today’s rapidly evolving healthcare landscape, the intersection of artificial intelligence (AI) and human expertise is revolutionizing the way hospitals navigate denied insurance claims. While AI and technology have s
Dialysis centers across the United States often face significant challenges when it comes to denied insurance claims, which can have profound implications for both patient care and their financial stability.…
Dallas, Texas—August 24, 2023: The CEO of a Dallas healthcare fintech company today announced helping two medical systems affiliated with universities recover millions of dollars in unpaid health insurance claims.…
Without fail, the best cancer centers are focused on helping and healing. This involves ensuring their oncology patients can access lifesaving treatment(s). In order for cancer centers to provide this…
Despite their responsibility to patients and medical providers, insurance companies often use clinical claims denials to justify rejecting claims. A clinical denial is when an insurance company refuses to pay…
Today’s healthcare revenue landscape presents many unique challenges for medical centers. Overall, many hospitals and practices have seen expenses increase while reimbursements decline. Costly write-offs can result when
Rising claim denial rates is one of the most critical revenue cycle issues the US healthcare system is currently facing. The latest data from KaufmanHall suggests that 2022 was the worst fiscal…
Labor costs and low morale are looming emergencies for medical systems revenue cycle directors in 2022. Doctors and nurses are suffering burnout and quitting or reducing hours. These medical staff…
One of the most daunting challenges medical practices face is when they change systems for managing patients’ data during an electronic medical record (EMR) conversion. If the EMR conversion is…
Insurance companies conduct business based on the premise that their policies are the last word on whether they pay or deny a healthcare claim. This assumption, however, is false. The…
Delta variant destabilizes healthcare planning: With the spread of the more contagious delta variant, Covid-19 cases spiked almost 70 percent in the last week (www.washingtonpost.com/…covid-cases-rising/). The public hea
While the COVID-19 pandemic flooded hospitals with patients in 2020, healthcare systems did not benefit financially. In most businesses, more customers mean more money. In the case of hospitals, those…
2021 is here and with a new year, there’s word of COVID-19 vaccines making their way throughout the United States. While rollout is slower than expected, about 5 million people…
Medicaid expansion has affected hospitals’ finances. This is according to research found in a study conducted by the Urban Institute. The data used was collected from the American Hospital Association…
Reducing costs is important in any industry, but especially in the healthcare field. While reducing costs is currently a top priority for healthcare CFOS, the lack of sufficient data and…
Recently, additional hospital bankruptcies have hit the news. With the pandemic still raging on and emergency rooms and wards becoming overcrowded, you’d think that hospitals would have a steady flow…
Payment denials, especially those issued by commercial health insurance companies, can add up over time. They not only cost you money, due to the person-power required to collect on those…
As the COVID-19 pandemic continues, hospitals have begun to make some changes. We’ve discussed how many have made plans to expand, closed their doors, or laid off staff, depending on…
Since the beginning of the year and the start of the Covid-19 pandemic, 18 hospitals in the United States have closed. This illustrates just how much the health care industry…
As the Covid-19 pandemic rages on with no signs of stopping or slowing down, some healthcare experts feel powerless. Their emergency rooms are filling up with patients, employees are scheduling…
Not every hospital system has fallen victim to the financing issues that came along with the Covid-19 pandemic. Some have managed to pull themselves up and managed to land in…
The Covid-19 pandemic changed plenty of things about medical care, including how ambulatory surgical centers will operate in the future. Experts have made a number of predictions based on observations…
As if that state of the industry weren’t dire enough, now experts are predicting that as a result of COVID-19 and all of the routine exams, checkups, and voluntary surgeries…
One would think that hospitals would have increased numbers of patients during a pandemic. After all, aren’t their services needed? This actually isn’t the case for some hospitals in rural…
COVID-19 has been in the news since at least December, giving the Centers for Medicare & Medicaid Services, or CMS, plenty of time to prepare. They’ve taken a number of…
In response to the COVID-19 pandemic, many hospitals are trimming costs and reducing potential exposure by placing non-essential staff members on furloughs. Only time will tell whether or not this…
Every year, experts in the field make predictions about the health care industry. This year, there are five important things that might happen. According to Rick Pollack, president and CEO…
Currently, out of network claims are much higher than standard in-network ones. There are plenty of reasons for this, but what matters is that lawmakers are trying to simplify the…
Hospital billing systems are complicated. There’s a reason why billing employees go through plenty of training. Between the various doctor fees, medication costs, room charges, and procedure costs, there’s a…
Throughout 2019, a new trend emerged in healthcare – surgical centers. Although these centers, which are designed solely for outpatient surgeries, have been around for many years, quite a few…
Anyone who’s read the paperwork that comes with their health insurance policy is no doubt aware of the differences between in-network and out of network appointments and procedures. These procedures…
Modern technology has made it possible for health care officials to use things like predictive analytics in order to improve collection times. For the most part, this technology has been…
According to a recent segment on ABC News, yet another hospital in Tennessee is closing its doors. The main issue with this is that it’s the only one around for…
Many healthcare companies, ranging from the large (hospitals) to the small (general clinics) and everything in between, are trying to cut costs due to financial pressures. As a result, this…
More hospital closures are on the horizon. The most recent of them, St. Mary Hospital in Port Arthur, Texas, is just one of the many that have shut their door…
Recently, an article came out explaining how hospitals and health clinics can improve their payer contracts. These contracts, which exist between the healthcare provider and the commercial health insurance company,…
Hospitals have begun experimenting with the use of automated systems when it comes to managing their billing. Although a recent article hasn’t made it clear how extensive this practice is…
According to recent headlines, Surgical Care Affiliates, which is based in Deerfield, Illinois, is going to be adding at least 20 more Ambulatory Surgical Centers, or ASCs, to their portfolio…
Not all of the news has been bad lately, as far as hospitals are concerned. Recent headlines have included updates from five different medical centers around the United States that…
It’s happened again. Another hospital is on the brink of financial disaster. However, this one, instead of closing its doors entirely, is planning on cutting services and jobs. The administrators…
Another week and there are more hospitals with financial struggles in the news. This seems to be an increasing trend, as more and more health care centers face financial problems…
It seems as though hospital closures pop up in the news constantly. Every week at least one of them files the paperwork necessary to go out of business due to…
Many hospitals still use old-fashioned billing systems. While these systems eliminate the need to train your employees on how to use them, they pose a problem for hospitals and clinics…
The statistics don’t lie – surgical centers are becoming incredibly popular. These clinics tend to focus on one type of healthcare only: outpatient surgeries. While this is good for patients…