Nearterm Blog
Posts by Nearterm Houston
5 Big Hospital CFO Concerns for 2015
Are These Still the 5 Big Hospital CFO Concerns for 2015? According to an article by Rene Letourneau, for HealthLeaders Media, December 1, 2014, where he interviewed a number of CFOs, there are 5 Big Hospital CFO Concerns for 2015. Now almost in the middle of 2015, do you agree with his prognostications? Declining Utilization…
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Creating a Hospital Quality Management Cycle
According to Susan DeVore, president and CEO of Premier, Inc., a healthcare improvement company, today’s healthcare providers are being judged on more than the amount of payment for a procedure and the effectiveness of their billing and collection process. They’re also being increasingly evaluated based on their quality, creating a need for “total quality management.”…
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AMA President Urges Physicians to Prepare Billing Cycles for ICD-10 Implementation
In response to a letter to the Centers for Medicare & Medicaid Services (CMS), which expressed concern regarding the potential for an accumulation of millions of dollars in unpaid Medicare claims following the ICD-10 implementation, American Medical Association (AMA) President Robert M. Wah is urging physicians to prepare their billing cycles for the transition. The…
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How Outsourcing RCM Supports Company Growth: A Client’s Perspective
Several years ago, Capital Women’s Care (CWC), an obstetrics and gynecology group in the Maryland, Virginia and Washington, D.C. areas, was facing a challenge with regards to their revenue cycle. According to Debbie Redd, CWC’s President and CEO, the practice’s revenue cycle was “not functioning to its full potential,” hindering the company’s ability to grow.…
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The Damaging Effect Overstretched Revenue Cycle Management Resources have on Your Bottom Line
A recent Revenue Cycle Management (RCM) survey by NexGen Healthcare demonstrates the ways overstretched RCM resources can affect your bottom line. According to the survey, which was conducted among practices across the nation and evaluated several high-level metrics, many medical practices are “falling short” of the best practices benchmark. The survey found that the…
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Health Information Management (HIM) to Surpass EHR Purchasing Amid Healthcare Reforms
According to a recently-released Frost and Sullivan report, health information management (HIM) and revenue cycle analytics are projected to surpass the electronic health records (EHR) purchasing market within the next few years, as hospitals adapt to meet the changes spurred by healthcare reform and the possible implementation of ICD-10. “Hospitals understand they must establish new…
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Revenue Cycle Industry to See Changes in 2015
The New Year will be a year of changes for professionals in hospital revenue cycle, notes a new article from Healthcare Finance News. The biggest changes impacting the industry include the move from fee-for-service to population-based payment systems, as well as the possible implementation of ICD-10. According to the article, it will become critical for…
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Revenue Cycle Management Outsourcing Projected to Expand
Investment in revenue cycle management (RCM) outsourcing is set to expand at a compound annual growth rate of 7.2 percent through to 2019, according to a recent report from MicroMarket Monitor, a market research firm. The report, which examines North America’s revenue cycle management market, was prepared through “extensive primary and secondary research.” The report’s findings are…
Read MoreCMS UPDATE FOR HIM PROFESSIONALS
CMS UPDATE FOR HIM PROFESSIONALS Here is some great information and access to some useful resources via CMS: Latest News MLN Connects™ National Provider Call: Transitioning to ICD-10 Wednesday, November 5; 1:30-3pm ET To Register: Visit MLN Connects™ Upcoming Calls. Space may be limited, register early. HHS has issued a rule finalizing October 1,…
Read MoreJ.J. WATT QUOTE
I typically ignore the myriad of quotes and quips that saturate social media these days but this one caught my eye: “SUCCESS ISN’T OWNED, IT’S LEASED. AND THE RENT IS DUE EVERY DAY” Wouldn’t it be great if everyone embraced this wisdom? It applies to our personal lives as well as our professional lives. So…
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