Here are five expert revenue cycle management tips, published by Becker's Hospital Review on or after Nov. 6.
1. Jenna Tropea, online marketing strategist at ImagineSoftware, a provider of billing automation software and revenue management applications, recommended hospitals track claim denial resolve rate to improve revenue cycle performance.
2. Rebecca Marsh, vice president of advisory services at nThrive, a revenue cycle management company, advised hospitals to conduct a comprehensive review of their chargemaster to prepare for the CMS' price transparency rule taking effect Jan. 1.
3. Mark Mele, vice president of sales at Casetabs, a cloud-based surgery coordination technology provider, said hospitals should remember the importance of reducing operating room delays and last-minute cancellations as they seek to improve financially.
4. Kevin Smith, vice president of product management at nThrive, recommended hospitals use online estimator tools to help patients understand their potential out-of-pocket costs.
5. Gary Long, executive vice president and chief commercial officer of R1 RCM, a provider of technology-enabled healthcare revenue cycle management services, advised hospitals to include both clinical interactions and nonclinical interactions when considering net promoter scores.
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