Nearterm Blog
RCM Consulting Services
What are the “Pros & Cons” of Centralized Revenue Cycle Processing, You Ask?
Hospitals and other healthcare provider organizations that have become multi-facility entities often consider centralizing RC Processing and/or AR processing. The strategy is usually aimed at lowering operating cost, improving financial management performance and better customer service. As a Revenue Cycle Management (RCM) consulting company, Nearterm has a lot of experience assisting clients with centralization (and decentralization)…
Read MoreService Management in Hospitals – Turning Complaints into Gold
Patient complaints can be stressful and costly, and if severe enough, can even negatively impact revenues. Or complaints can offer an opportunity to fine tune your service level and turn them into gold, thus boosting revenues. The emergence of the patient as consumer is the reason making the latter possible. The Patient as Consumer Hospitals and…
Read MoreFive CFO RCM & Cash Flow Challenges & Solutions 2016
How to raise patient satisfaction, reduce overhead operating costs and integrating patient-centered technology are just some of the challenges impacting cash flow and revenue cycle management in 2016. Of the five mentioned here, Patient Satisfaction accounts for 3 of the challenges. Three Patient Satisfaction Challenges The hospital CFO has a new driver in the cash…
Read MoreToo Busy to Look at Patient Accounts, You Say?
Early in my Revenue Cycle Management (RCM) career before I went into RCM consulting, I was an RCM Executive with a hospital chain and had responsibility for 14 hospitals. I actually thought that I was too busy to look at patient accounts. After all, there was a hospital budget to prepare, a seemingly unending…
Read MoreRevenue Cycle Manager and/or Revenue Cycle Leader – Which are You?
First, allow me to clear the air a bit; neither is “better” than the other and we need both to meet the continuing revenue cycle management (RCM) challenges ahead for hospitals and healthcare organizations. Also, volumes have been written on this topic so this is not an effort to present a treatise on leadership or…
Read MoreNearterm Managed RCM Project Staffing Services
A billing or coding backlog that challenges your manpower resources can put your cash flow at risk. Nearterm can rapidly deploy a professionally managed team of qualified technicians to eliminate backlogs or to backfill a special HIM or Revenue Cycle project. The team can be dedicated to a specific functional area (e.g. Medical Coding, Medicare…
Read MoreWhat are 360° Managed Revenue Cycle Services?
Nearterm is a Managed Services Provider of front to back office RCM Services for healthcare organizations: hospitals, clinics and physician practices. We offer a 360 solution from patient access to accounts receivable, including consulting and interim management. By “Managed Services,” we mean exactly that: all our services are professionally managed and measured by a Nearterm…
Read MoreAvoid ICD-10 Cash Flow Disruptions
Before the October 1 deadline, now is good time to do a thorough assessment of your ICD-10 plan and, with many aspects of revenue cycle management (RCM) closely tied to ICS-10, an assessment of your front and back office readiness also now can save you a lot grief and missed revenue during and after implementation. Assess &…
Read MoreIs 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…
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