Revenue Cycle

3 Cost Containment Ideas For Hospitals Heading Into a Challenging Environment In 2018

December 21, 2017 / Cost Reduction, Hospital Finance, Hospital Management, Operational Efficiency, Revenue Cycle, Supply Chain, The Business of Surgery /

As we head into 2018, there appears to be a lot of headwinds facing hospitals and healthcare systems: regulatory uncertainty around the Affordable Care Act, slowing patient admissions, accelerating costs and shrinking margins. Moody’s Investor Services predicts bad debt to grow 6-7% in 2018 and operating cash flow for non-profit hospitals to shrink 2-4%. In […]

3 Cost Containment Ideas For Hospitals Heading Into a Challenging Environment In 2018 Read More »

The Benefits Of Proactive vs. Reactive Clinical Documentation Improvement

December 19, 2017 / Clinical Documentation, Hospital Finance, Hospital Management, Revenue Cycle, The Business of Surgery /

Many hospital financial executives view clinical documentation improvement (CDI) efforts to improve capture revenue as a purely financial gain for their hospital. This is a perfectly valid reason for pursuing CDI initiatives, as all major investments should have a financial return to the hospital. However, re-examining CDI efforts and changing from a proactive to reactive

The Benefits Of Proactive vs. Reactive Clinical Documentation Improvement Read More »

Using Clean Data To Get More Out Of Your EMR Investment

December 15, 2017 / Big Data, Clinical Documentation, Hospital Finance, Hospital Management, Operational Efficiency, Revenue Cycle, The Business of Surgery /

Hospitals and healthcare systems across the US have spent billions of dollars per year over the last decade implementing electronic medical record (EMR) systems across their operations. A lot of the promise of EMR systems for hospitals is the data that they can collect that can be used for a wide range of analyses: cost

Using Clean Data To Get More Out Of Your EMR Investment Read More »

Increasing Procedural Revenue

November 30, 2017 / Cath Lab, Clinical Documentation, Hospital Finance, Hospital Management, Operating Rooms, Radiology, Revenue Cycle, The Business of Surgery /

For the past several decades in healthcare, inventory has been managed independently from the rest of the business of providing healthcare. When you step back and look at how supplies impact the business of providing healthcare, you’ll see that hospitals can benefit greatly from extending the visibility of supplies to clinical documentation and billing. Charges

Increasing Procedural Revenue Read More »

Improving Clinical Documentation By Engaging Physicians

November 21, 2017 / Clinical Documentation, Hospital Finance, Hospital Management, Operational Efficiency, Revenue Cycle, The Business of Surgery /

Hospitals continue to focus on clinical documentation improvement (CDI) efforts to capture revenue that they may be missing today.  With the healthcare payment market continually in flux, not a dollar can slip through the cracks with the narrow margins that most hospitals are operating at. Having a robust CDI program is one way hospitals are

Improving Clinical Documentation By Engaging Physicians Read More »

Midcycle Revenue Loss May Be Costing The Average Hospital $11 Million Annually

November 16, 2017 / Clinical Documentation, Hospital Finance, Hospital Management, Operational Efficiency, Revenue Cycle, The Business of Surgery /

A recent study by the Advisory Board Company found that the average 250-bed hospital in the US lost between $4.7 and $11.3 million in 2016 from revenue loss in the midcycle. Advisory Board defines the midcycle as the revenue cycle functions that happen between patient enrollment and the back office – namely documentation, clinical documentation

Midcycle Revenue Loss May Be Costing The Average Hospital $11 Million Annually Read More »

How To Maximize Revenue With Clinical Documentation Improvements

October 23, 2017 / Clinical Documentation, Hospital Finance, Hospital Management, Operational Efficiency, Revenue Cycle, The Business of Surgery /

With the healthcare payment market continually in flux, hospitals are doing all they can to maximize the revenue that they receive for their work. Not a dollar can slip through the cracks with the narrow margins that most hospitals are operating at. Many hospitals have recognized the merits of a strong clinical documentation improvement (CDI)

How To Maximize Revenue With Clinical Documentation Improvements Read More »

8 Ways To Speed Up Your Revenue Cycle

August 30, 2017 / Hospital Finance, Revenue Cycle, The Business of Surgery /

With hospital margins being squeezed more and more every day, administrators are tasked with trying to speed up cash flow in any way possible. One hotspot for hospitals over the past several years has been to speed up their revenue cycle by focusing on improvements in the front-end, back-end and everywhere in between. The ultimate

8 Ways To Speed Up Your Revenue Cycle Read More »

How Massachusetts General Hospital Re-Captured $1 Million in Missing Revenue

October 5, 2021 / Clinical Documentation, Hospital Finance, Hospital Management, Operational Efficiency, Radiology, Revenue Cycle, The Business of Surgery /

Massachusetts General Hospital (MGH), the Boston-based, #3 ranked hospital according to US News and World Report, has successfully deployed RFID-based technology from Mobile Aspects to automate charge capture and inventory management across its procedural areas. MGH performs about 650,000 radiology examinations annually, and the Interventional Radiology (IR) department carries out around 15,500 procedures. In 2001,

How Massachusetts General Hospital Re-Captured $1 Million in Missing Revenue Read More »

How To Use Data To Improve Revenue and Outcomes

August 30, 2017 / Big Data, Clinical Documentation, Hospital Finance, Hospital IT, Hospital Management, Revenue Cycle, The Business of Surgery /

Maximizing revenue and patient satisfaction is a constant struggle in today’s healthcare environment.  Many decisions result in improving one at the expense of the other.  A recent presentation by Wise Health System at the Healthcare Financial Management Association’s ANI conference in Orlando spoke about how to accomplish both goals with a data-driven culture. The endeavor

How To Use Data To Improve Revenue and Outcomes Read More »