Hospital Revenue Cycle Management Practices and New Healthcare Reforms

The ACA also brings about changes in payment and care models. A few of the biggest ones right now are the fee-for-value service models replacing conventional fee-for-service programs. The government has been pushing providers to adapt these new service models via Medicare and Medicaid, mainly by promoting accountable care organizations (ACOs), patient-centered medical homes (PCMH), and the like. The impending shift to ICD-10 is also a critical development. Upon its implementation on October 1, the coding system will directly affect electronic health records systems and analytics tech, on top of coding and reimbursement rates and billing. Organizations that have yet to develop a plan of action for the ICD-10 shift are in deep water as they may experience payment delays and slowdowns in hospital revenue cycle management processes.
http://decorm.com/hospital-revenue-cycle-management-practices-and-new-healthcare-reforms/

What Is Revenue Cycle Management Bound To Be Like when ICD-10 Exists?

According to the CMS, healthcare providers who are ill-prepared for ICD-10 will be unable to submit claims for any services rendered on or after October 1. Only claims coded with ICD-10 will be recognized for services rendered on or after the implementation date, and such submissions can be done via electronic means or through the alternate methods described previously. Some revenue cycle management experts have pointed out that the implementation of ICD-10 may slow down the revenue cycle process, as historically shown in other countries. It is recommended that practices take a good look at their RCM practices now, and find ways to improve their current revenue cycle to offset any negative effects ICD-10 may bring. To this end, practices are encouraged to consult revenue cycle management services and other support services who specialize in improving RCM through eligibility management, like DECO Recovery Management.
http://decorm.com/what-is-revenue-cycle-management-bound-to-be-like-when-icd-10-happens/

Professionals for Eligibility Management Services

Each for-profit hospital aspires to achieve a certain financial goal at the end of the day. This is something that cannot be possible if necessary planning and execution are not put in place.

A hospital whose services truly help make the lives of patients better will certainly earn the trust of even more patients. These services include assistance in getting Social Security disability (SSD) for children and adults alike.