Nearterm Blog

Thoughts & Musings

Revenue Cycle Processing Backlogs Are Not “NORMAL”. It’s time to raise the bar – eliminate BACKLOG TOLERANCE!

I talk every week with Revenue Cycle Leaders from all types of hospitals around the country. When I ask how things are going, there are many common responses that reflect current concerns and challenges they are facing. These include conversion issues, staffing constraints, volume fluctuation, talent acquisition/retention, cooperation among stakeholders, change in payor practices and…

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Revenue Cycle Management In 1951: It Used to be a Lot Easier…Or Was It?

The above image is an actual hospital bill and accompanying explanation of charges used in 1951. Just think of the things that we didn’t have to manage back then. A short list might include coding, claim edits, massive denials, contract payment compliance, Medicare/Medicaid (both started in 1965), managed care contracts, HIPPA regulations, “patient-friendly” billing initiatives,…

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The Characteristics of Leaders and Successful People

I don’t know about you but I am growing immune to the voluminous “LISTS” I see in social media about leadership and success. LinkedIn, social media forums such as Facebook, and blogs are recently inundated with posts about leaders, leadership and successful people. For example, just this year alone 167 Habits, 340 Behaviors, 62 Graphic…

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How Many Revenue Cycle FTES Do You Need?

Revenue cycle staffing patterns and ratios are all over the map among provider organizations. This makes sense when you consider that there are variables like technology, volume, patient type, payor mix, skillset, organization structure, mission and management practices. Hospitals often rely on benchmarks in conjunction with staffing decisions. Benchmarks do very little to recognize these…

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New Year, New Opportunities

In 2016, Nearterm was part of many client success stories from all over the country. We helped an 850 bed facility in the Southeastern United States reduce un-coded DNFB from $50 million to $2 million through interim leadership and coding support. A California client with a point-of-service collection goal of $25 million surpassed it to…

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Improving Cash Flow

Check out this great article written by our very own Jim Matthews for the HFMA Gulf Coast Express – February 2016 Newsletter:  http://files.ctctcdn.com/d6aa2798201/aedf162e-cc2f-46a7-ab9b-c49a1b0708bc.pdf Improving Cash Flow Cash flow from patient care revenue is one of the CFO’s main concerns in today’s transitioning industry environment. How can hospitals and healthcare provider organizations develop sustainable and growing…

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J.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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AFFORDABLE CARE ACT

Here is some information about the impact of the Affordable Care Act. While we have known the “rules” for some time, hospitals are now beginning to feel the impact in the form of revenue penalties and the demand to provide care differently than in the past. Re-admission penalties are a current target and most thought…

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