According to a recent market research study by Ingenious Med, only 1 in 3 healthcare executives currently believe they have enough data insight into location performance or physician productivity.
hsheldon
One of the most effective ways to improve a healthcare organization is to learn from other successful organizations. Healthcare leaders should continually evaluate what makes their competitors thrive, and then incorporate similar strategies.
These organizations possess a vast amount of clinical, operational, and financial data, but it is exceptionally difficult to process and translate findings into actionable improvements. As a result, healthcare organizations are implementing data-gathering and reporting solutions to more easily identify underperformance.
To identify areas where performance metrics could improve quality care and revenue cycle processes, ask the following questions of your organization:
Every part of the revenue cycle is vital to an organization’s financial health, yet not every aspect is treated equally. The coding process is often written off as a necessary but messy process, accepting that care providers don’t have sufficient time to document everything at the time of care. Fortunately, there is a better path forward.
In 2018, Ingenious Med commissioned a study to determine what differences and similarities existed between acute-care organizations using different charge capture methods.
Though healthcare organizations consider revenue cycle management (RCM) one of the most important aspects of business, little research has been conducted on the front end of the financial revenue cycle: charge capture.
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Critics in the medical industry have historically shown a skeptical attitude toward the implementation of new technology in healthcare. Their…