Nearterm Blog
RCM Consulting Services
5 Tips for Identifying And Eliminating Backlog In Your Healthcare Company
One major way to improve your healthcare facility’s revenue cycle and free up extra money for your budget is to identity and then eliminate backlog. Here are 5 helpful tips for identifying and eliminating backlogged accounts in your healthcare facility. 1. Look for bills that never got sent. When looking to identify your healthcare facility’s…
Read MoreWhy Is Revenue Cycle Management Important in the Healthcare Industry?
Revenue Cycle Management (RCM) plays an important role in the healthcare industry. Managing revenue is vital for any business but may not be the primary focus of healthcare providers. However, these providers need revenue to pay for medical supplies, salaries, equipment, and more. Healthcare costs are increasing with technology adoption in a time when an…
Read More“I promoted the best AR Specialist in our organization to a management position – oops!”
Here is a story from one of our clients that you may find interesting; Things were in good shape in our revenue cycle management process. Metrics and the Dashboard indicated that we were current in billing, follow-up, and cash application. Denials were under control. Days were low. Patient complaints were handled promptly. You get the…
Read MoreSILENT IMPRESSIONS
Every encounter we have with another person or a business results in an impression. An encounter may be conversation, email, voicemail, text, social media, appearance, hygiene and others. Some of the impressions we form based on these encounters are stronger than others and because people are all different, reactions vary. Some impressions are indelible and…
Read MoreHospitals Staffing Levels Improve With RCM Solutions
There’s no doubt that healthcare workers are the backbone of the health service, so it makes sense for a healthcare provider to manage their staffing levels in a strategic manner. Healthcare revenue cycle management consulting services (RCM) help hospitals to meet staffing needs while saving money. This cost-effective approach is gaining momentum as healthcare providers strive…
Read MorePygmalion In Revenue Cycle Leadership
The Pygmalion Effect can be described as the phenomenon whereby higher expectations lead to an increase in performance. Much has been written about the Pygmalion Effect. The concept is controversial. However, like most controversial concepts, there are elements of validity that can be applied successfully in the workplace and particularly in Revenue Cycle Management. Consideration…
Read MoreUse a Cash Acceleration Team to Optimize RCM
There are many explanations for sluggish cash performance and obviously, understanding causes may be useful in preventing recurrence. Meantime, you have a backlog and the objective is to get caught up. That’s where a Cash Acceleration Team can be helpful. What is a Cash Acceleration Team? It is a highly customized temporary external resource allocation…
Read MoreICD-10 Changes for 2017 Make RCM Even More Critical
October 2016 brought major changes in the ICD-10, and the freeze is over. Going forward, annual updates to the coding system will be the norm once again. Keeping up with ICD-10 changes will be an ongoing challenge, making RCM even more critical to maintaining and increasing your profitability. RCM Challenges Hospitals and physician practices face…
Read MoreA Deluge of ICD-10 CM/PCS Codes is Coming to All Healthcare Facilities: What to Do?
On October 1st of this year, a deluge of over 5,000 new ICD-10 CM/PCS medical codes and other changes are coming to hospitals and clinics nationwide. The stakes are high so it is important to get it right the first time. Errors may lead to delayed or denied claims, negatively impacting the revenue cycle management process…
Read MoreA Look at Nearterm’s RCM Consulting Nationwide
Most likely Nearterm has done an RMC Consulting Project in your state. Find out with our Interactive Project Map. Nearterm provides client-centered revenue cycle and financial management consulting services to hospitals, physicians and other healthcare providers nationwide. Our hospital revenue cycle management services see and deal with the full spectrum of revenue cycle issues that…
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