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HFMA 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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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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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 MoreRevenue Cycle DRP
REVENUE CYCLE DISASTER RECOVERY PLANNING (DRP) IS CRITICAL Most hospitals have highly detailed disaster plans that are mostly focused on direct patient care issues and that is absolutely the appropriate focus. However, we as revenue cycle professionals advocate the reminder that cash flow is a critical when disaster strikes. The following wikipedia link articulates DRP issues fairly…
Read MoreREVENUE CYCLE EMPLOYEE DRESS CODE
HOSPITAL DRESS CODE IS CHANGING Eric Chester has written a very interesting article on the topic of dress code. http://ericchester.com/2014/07/16/casual-friday-or-casual-everyday/ I found this article and many others written by Mr. Chester to be very informative and practical. If you are a healthcare leader in a provider organization, you know that our industry has unique dress…
Read MoreHEALTHCARE CAREER TIP
Here is a quote from Mark Twain that you may find inspirational as you build your career, your life and your reputation; “YOU CANNOT BUILD YOUR REPUTATION ON WHAT YOU ARE GOING TO DO” Next time you have a moment of introspection about your image, consider that reputation is defined as the general estimation in…
Read MoreREVENUE CYCLE EFFICIENCY
Most of the 8,700 layoffs this year were non-clinical jobs. The Bureau of Labor Statistics leads to dire projections as we move into 2013. As revenue cycle professionals, we have always been challenged to streamline revenue cycle operations, reduce revenue cycle labor cost and become more efficient. I submit that the challenge is now a…
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