hsheldon

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Calculating the Economic Benefits of Effective Charge Capture

According to the 2016 Revenue Cycle Management Report, a survey of 2,000 independent physician practices and 200 hospital-based physician practices by Black Book Market Research, the profit margins of healthcare provider organizations continues to be negatively affected by traditional patient billing solutions.

To begin, many organizations are unprepared for value-driven care. The survey found that 9 in 10 practices are financially and technologically unprepared to provide value-based healthcare to their patients — which is a significant and increasing payment trend, especially among hospitals. What’s more, despite the added emphasis on compliance and risk management, many physicians characterized themselves as “not tech savvy,” adding that the investment in hardware, applications, and training is too expensive for many small practices.

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Optimizing the Revenue Cycle Starts Here

There is nothing more elemental to healthcare than a physician’s treatment of a patient. As much as the industry continues to evolve, this essential interaction has never been more integral to the overall delivery of quality care. But while patient care will always be the number one goal for physicians, today’s declining reimbursements and tighter margins means the revenue cycle must be prioritized as well. If a practice’s financial health fails, it can’t keep its doors open to take care of the patients.

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Doc Image Capture Case Study

CMS and commercial payers are all getting better at analyzing large volumes of claims data – that’s why it’s critical that healthcare organizations provide proper documentation to support their claims. Take action to reduce compliance risk and associated liability with collecting and submitting documentation.

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Four Tips to Be a Better Steward of Opioid Prescriptions

The opioid epidemic is being called the worst public health crisis in America. And the numbers keep rising. I can remember a time in nursing school where we were taught to treat pain as the “fifth vital sign.” We were told not to question the patient’s perception of pain but to treat accordingly as many felt that patients were often under-medicated.