Revenue cycle management has grown to be increasingly tricky to handle, largely due to the ever-growing healthcare reforms and policies. With the implementation of ICD-10, practices, as well as hospitals, have started to arm themselves with as many supplies and tools as they can to help them manage their revenue cycles efficiently.
One technique that has shown tremendous promise is clinical documentation improvement (CDI). CDI helps physicians and coders increase coding accuracy and properly depict the quality of care delivered. CDI aids in communication as well as identifies those areas of the documentation process that could use some improvement and greater specificity. With proper implementation, CDI offers both procedural and financial benefits.
If your practice has been struggling to improve patient outcomes, smooth clinical workflows and streamline your revenue cycle, here are more ways better clinical documentation can help: Read more
Medicine has advanced tremendously in the last 50 years. I mean we’ve come up with antibiotics and image scanning and angioplasty, so why is it we haven’t been able to come up with a bill that doesn’t royally confuse the patients?
If patients are going to be billed high prices for medical procedures, they had better well be able to understand everything they are being billed for!
After many focus groups revealed patient frustration with their medical bills, the Patient Friendly Billing project was born.
Today’s Consumers Demand More
The costs of healthcare are rising, and it’s the consumers’ savings account that’s taking the biggest hit. Today’s consumers expect to wholly participate in their medical care and demand pricing transparency and documentation that is understandable.
The Healthcare Financial Management Association (HFMA) began the Patient Friendly Billing project to promote clear, concise, and correct patient-friendly financial communications.
The project is founded on the following tenets:
• When designing administrative processes and communications, the needs of patients and their families should be the primary focus.
• It should be the responsibility of providers and insurers to coordinate the gathering of patient information in an efficient and private way, and without any unnecessary duplication.
• If at all possible, communication regarding financial matters should not happen during the medical visit.
• The language and format of communications should be understandable to the average reader.
• Better practices should be a goal of all providers and should incorporate patient feedback.
• Billing statements should be easy to understand, accurate, provide comprehensive details, and designed so the information is logical to read. Continue reading
Out-dated EHR bringing your practice down? Or maybe just thinking of switching your practice management software? Look no further. Brining you a basic, 5-step guide to buying the right EHR, this info-graphic is bound to help you choose better and shop smarter. Remember, 59% more buyers are replacing existing EHR Software this year and you most definitely can’t afford staying behind in the race. Analyze, research, consult and go for it! Get the EHR your practice deserves and spend time managing your patients, and not the software. Happy shopping this year! Read more