Here are six expert revenue cycle management tips, published by Becker's Hospital Review since Jan. 18.
1. Amy Sullivan, vice president of revenue cycle at PatientKeeper, an EHR optimization software company, advised hospitals to regularly reconcile physician charges with clinical notes to ensure they are achieving maximum reimbursement.
2. James Zadoorian, PhD, managing principal at ARxChange, which designs patient financial revenue systems, said hospitals should develop a well thought-out pricing narrative to manage consumer confidence.
3. Rebecca Farrington, chief revenue officer for Healthcare Administrative Partners, a provider of revenue cycle management solutions, recommended preparing for new rules that require referring providers to consult a clinical decision support system before ordering advanced diagnostic imaging services for Medicare patients.
4. Scott Mark, PharmD, vice president of product management, implementation and customer management for Craneware Healthcare Intelligence, said cost reduction and containment in healthcare requires providers to look at patient consumption of medical resources at a granular level. He recommended viewing the patient visit-ID.
5. Monte Sandler, executive vice president of revenue cycle management at DocuTAP, a provider of EMR and practice management software for urgent care centers, said medical practices thinking about outsourcing revenue cycle should consider erratic cash flow, billing metrics and labor costs.
6. Parag Shah, president of practice solutions at Integra Connect, a provider of technologies and services for value-based specialty care, cautioned specialty medical practices to prepare for both positive and negative financial scenarios as they model and manage potential revenue under value-based care.
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