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GroupOne Health Source Revenue Cycle Management Blog

      

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The Good, The Bad, The Ugly: Tracking and Measuring Revenue Cycle Management Metrics

by Kim Straub on August 27, 2016

When it comes to revenue cycle management, there is a large amount of data that you could track, but what are some of the most important metrics to measure and track regularly? There are 6 RCM metrics you should be tracking and measuring consistently in order to determine how your revenue cycle is performing. Here we will cover all 6 and give you some benchmarks to compare your practice's performance against.

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Topics: Revenue Cycle Management

6 Social Media Guidelines for Physicians

by Kaitlyn Houseman on August 18, 2016

As a physician, you may feel that you don't have the time or energy to set up a Facebook or Twitter profile – let alone the time it takes to consistently manage these social media sites and others like them. However, social media marketing, when done right, can be a great way to communicate with your patients in a more personalized manner.

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Topics: Marketing

What are the Elements of a Highly Efficient Claims Process?

by Kim Straub on August 16, 2016

Because there are typically multiple parties involved in a medical care claim, the process quickly becomes quite complex, which lends itself to a variety of errors caused by both humans and technology. Developing an efficient claims process is crucial to the success of your medical practice, and the process begins before any claims are even submitted.

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Topics: Revenue Cycle Management, Denial Management

The Beginners Quick Start Guide to Text Messaging Patients

by Kaitlyn Houseman on August 12, 2016

Text messaging is fully integrated into millions of people's lives and is a convenient, less obtrusive alternative to the phone call. With 97% of Americans using their phones to text, many physicians are wondering how to incorporate text message communication into their practices.

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Topics: EHR, Practice Management, Patient Engagement

Why Switching Your EHR Might be the Best Decision You Make This Year

by Nicole Benz on August 9, 2016

The future of physician practices is electronic health records (EHRs). We can’t go back to paper and no one is rationally suggesting we do. But there is agreement that EHRs have not met the expectations set out for them: billions of dollars in savings, hours in administrative time saved, as well as enjoying tighter security and better accuracy.
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Topics: EHR

Do Patients Hate Your Website?

by Kaitlyn Houseman on August 6, 2016

Someone needs to tell you: Your website matters. It matters as much as, if not more than, your actual brick and mortar office. For many, it is their first experience of your practice. It is the first impression you make on many of your patients or patients-to-be (or not to be, depending on how that impression goes…). 

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Topics: Practice Management, Patient Engagement, Marketing

Some Health Insurance Companies Automatically Enrolling Patients In Medicare Advantage Plans

by Keith Lage on August 3, 2016

Whether to sign up for traditional Medicare or with a Medicare Advantage plan may no longer be your decision to make. It turns out that some Medicare-age people are being automatically enrolled in Medicare Advantage plans by something called "seamless conversion."

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Topics: Revenue Cycle Management, Practice Management

The Impact of MACRA on Your Practice

by Jeff Jones, CPHP on July 28, 2016

Encouraging physicians to switch to electronic health records (EHR) has been a long term effort from CMS ever since the January 2009 passage of the HITECH act. Over three-quarters of physicians and nearly all hospitals are using an EHR but the incentivizing structure has been hard to wade through, at best. Now healthcare professionals and physicians alike must focus their efforts on understanding the end of the SGR formula and the beginning of The Merit Based Incentive Payment System and Alternative Payment Models.

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Topics: Revenue Cycle Management, Incentive Programs, MACRA

Medicare Policy Changes in 2016: What You Need to Know

by Kim Straub on July 19, 2016

Recent changes to medicare policy will impact your practice and your patients. Here's what you need to know and how you can adjust to the new payment policies.

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Topics: Revenue Cycle Management, CMS

How an EHR Software Can Improve Your Revenue Cycle Management

by Kaitlyn Houseman on July 12, 2016

Medical billing is a complicated system with one simple goal, to ensure that healthcare providers are properly reimbursed for their services. In pursuit of this goal we must take into consideration how an EHR can help practices increase their collections and be more productive. Here we'll cover some common areas where the use of an EHR impacts billing and coding and how your practice can avoid potential errors while maximizing revenue.

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Topics: Revenue Cycle Management, EHR

Why Healthcare Organizations Can't Afford to Ignore Data Management

by Ricki Ransom on July 7, 2016

The data-driven healthcare organization is the one most likely to thrive today. Data analytics is now a top driver for IT spending, with more than one-third of hospitals overall saying analytics drives their IT spending. For medium sized hospitals, that figure is closer to 45%. Treating data as a strategic asset, and analyzing it appropriately can make decision-making more productive. This can lead to reduced costs and improved healthcare delivery. 

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Topics: Revenue Cycle Management

How to Make Sure Patients with High Deductible Health Plans Pay Their Bills

by Keith Lage on July 5, 2016

With more and more patients moving to a high deductible health insurance plan, it is becoming increasingly important to make sure that those patients pay their deductibles on time and in full. Though a portion (ideally no higher than 4 to 6%) will become bad debt and be written off, to keep your practice healthy, you will need to encourage your patients to pay these deductibles and make that payment process easy and as pain-free as possible.

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Topics: Revenue Cycle Management, Self-Pay

Conducting a Mid-Year Checkup of Your Revenue Cycle Management

by Kim Straub on July 1, 2016

A healthy medical practice centers around patient care and healthy revenue cycle management. You cannot have one without the other. In this day and age, no matter how good your practice is at keeping your patients healthy, if you don’t also have a healthy revenue cycle, you’re not going to be around long enough to help many patients heal.

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Topics: Revenue Cycle Management

How Can You Reduce Your Accounts Receivables? Try a CCOF Policy

by Ricki Ransom on June 29, 2016

Today, high-deductible insurance plans are more and more standard for patients. According to a recent report from InstaMed, 74 percent of healthcare providers reported an increase in patient financial responsibility in 2015, which has prompted healthcare revenue cycle management strategies to focus more on consumers. This reality makes collections that much more difficult, and practices often encounter patients “forgetting” their checkbooks or credit cards at the time of service. 

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Topics: Revenue Cycle Management, Practice Management, Self-Pay

9 Medical Practice Performance Metrics to Report on During Your Next Meeting

by Kim Straub on June 23, 2016

Tracking metrics in your medical practice can result in improved efficiency, profitability, and yield better results across your entire practice and revenue cycle management operations. Choosing what to measure and what to report is as important as deciding to start tracking measurements in the first place. In this post we will cover the 9 metrics that not only measure your RCM performance but the entire pulse of your medical practice.

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Topics: Revenue Cycle Management

5 Surefire Ways For Your Practice to Avoid EHR Adoption

by Nicole Benz on June 16, 2016

If you’re not using an Electronic Health Records (EHR) system yet, you will be soon. Adopting an EHR for your busy medical practice can be a daunting undertaking. You may have heard horror stories about other practices implementing a system. How can you be sure that your EHR adoption isn’t going to go wrong as well?

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Topics: EHR

Are You Exempt from MIPS? How Advanced APMs Differ From APMs

by Jeff Jones, CPHP on June 15, 2016

Some interesting discussions have emerged since the MACRA proposed rule was announced. One that is acquiring a lot of attention is the eligibility requirements of Advanced APM entities. Under the proposed rule only Advanced APMs will qualify for the 5% annual lump sum payment and be exempt from MIPS. In this post we will dive deeper into what it takes to become an Advanced APM and what happens if an APM entity does not qualify as an Advanced APM.

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Topics: Revenue Cycle Management, Merit Based Incentive Payment System, Incentive Programs

How to Turn Your Patients Into Brand Advocates

by Kaitlyn Houseman on June 10, 2016

Managing a busy medical practice is at times a daunting task. You need to be professional and at the top of your game, managing the financial side of the practice, diagnosing and taking care of patients, keeping the operational side of the business well-oiled, and, yes, you also have to provide superior customer service.

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Topics: Marketing

It's Not You. It's Them. 7 Signs Your EHR is a Terrible Fit

by Nicole Benz on June 8, 2016

By now, you’re probably using an EHR in your practice. That doesn’t necessarily mean you’re happy about it, though. Finding the right EHR for your practice is tough but successfully implementing an EHR can be even more difficult to achieve. EHR dissatisfaction could stem from a number of areas so how do you know if your EHR frustrations are the result of individual users, a poor implementation, or EHR functionality?

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Topics: EHR

A Deeper Look at Advanced Alternative Payment Model Criteria

by Jeff Jones, CPHP on June 7, 2016

The recently proposed MACRA NPRM details how Alternative Payment Models (APM) will enhance or replace some of the current fee-for-service payments. While the criterion may seem simple in theory, additional details are required in order to get a complete understanding of APMs, Advanced APMs, and how to comply. 

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Topics: Revenue Cycle Management, CMS, Incentive Programs, MACRA