Nearterm Blog
Is Co-Sourcing the New Outsourcing Solution for RCM?
Co-sourcing your revenue cycle management (RCM) professional resources can get you the best of both an all-in-house or an entirely-outsourced RCM solution, according to a recent article written by Carrie Pallardy for Becker;’ Hospital CFO. With the entirely-outsourced revenue cycle management consulting firm solution you can get good service that handles it all, but you lose…
Read MoreWinning Over the “Consumer” Patient
In his article, “Why the Billing Experience Matters,” Tomer Shoval provides a clear overview of the expectations of the recent phenomenon known as the “consumer” patient. That is, the patient as consumer expects cutting edge quality care and “a simple, easy-to-read medical bill that they can pay as easily as they do other bills.” “Many studies…
Read More5 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…
Read MoreHFMA TXGC Newsletter Features Nearterm Principal
Nearterm is honored to have our Jim Matthews featured in the HFMA TXGC’s April-May-June Newsletter entitled The Top 15 Influential People in the Healthcare Financial Management Association of the Texas Gulf Coast Chapter. “We invite you to read in this newsletter the most influential people of Healthcare Financial Management Association Texas Gulf Coast Chapter ….How they…
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Clinical-Financial Alignment Simplifies Revenue Cycle for Patients
According to Jeff Hurst, the senior vice president of finance at Florida Hospital, the revenue cycle trend hospitals should be moving towards is the integration of financial and clinical operations, in an effort to create a more consumer-friendly revenue cycle. “Historically, the healthcare industry has done a good job advocating for patients in a…
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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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