Here are five articles published by Becker's Hospital Review this past week that offer insight on claim denials, value-based payment initiatives, revenue cycle management hires and more.
1. Denials cost the average hospital $3.5M, survey finds
Hospitals and health systems have shown improvement in revenue cycle performance since 2015, but they still face various challenges in this area, according to Advisory Board's latest revenue cycle survey.
2, How are states faring with value-based payment initiatives?
While the federal government has moved forward with implementation of value-based payment initiatives such as the Medicare Access and CHIP Reauthorization Act, many states are making their own initiative efforts, according to a study commissioned by Change Healthcare.
3. 3 recent RCM hires
The following organizations announced they hired individuals with revenue cycle management experience, or for an RCM-related role, so far in November.
4. 11 recent RCM service expansions
Here are 11 revenue cycle management portfolio expansions involving healthcare vendors and providers so far in November.
5, 7 strategies to prevent claims denials
Carmen Sessoms, associate vice president of the revenue cycle management advisory services program at Nashville, Tenn.-based Change Healthcare, joined Rick Childs, vice president of revenue cycle management at Rome, Ga.-based Floyd Medical Center, and Tony Rinkenberger, director of RCM at Waconia, Minn.-based Ridgeview Medical Center and Clinics, to share seven strategies hospitals can use to prevent denials.
More articles on healthcare finance:
6 recent hospital, health system outlook and credit rating actions
U of Arizona Cancer Center receives $2M to study selenium supplementation
10 hospitals seeking RCM talent
More articles on healthcare finance:
6 recent hospital, health system outlook and credit rating actions
U of Arizona Cancer Center receives $2M to study selenium supplementation
10 hospitals seeking RCM talent