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Blog Posts by Tag: Hospital

Choosing to Outsource Your Revenue Cycle Management (RCM) or Do it Yourself? Key Considerations

Achieving operational efficiency throughout a hospital, health system, independent laboratory, or independent diagnostic testing facility (IDTF) is an important criterion to ensure success. Diagnostic leaders know that by gaining efficiency and effectiveness in their revenue cycle management (RCM) processes and improving cash collections, they can significantly improve the profitability of the...

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Outreach Labs Brace for Forthcoming Transparency Regulations

The Centers for Medicare and Medicaid Services’ (CMS) new hospital price transparency regulations will go into effect on January 1, 2021. Outreach labs are anticipating new challenges as a result of the rules.According to Adam Bonislawski’s article in 360DX, “Labs Brace for Potential Plusses, Minuses of Price Transparency Regulations,” the new regulations could: Interfere with a lab’s...

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The Importance of Lab-Specific Revenue Cycle Management for Hospital Labs

As a laboratory leader, you understand the value and impact of the patient care data you generate for hospital and community patients. On the business side of things, however, you aren’t always provided with the appropriate tools and visibility to position the lab to also be a profitable business entity. The time is now to challenge your current revenue cycle situation, including system...

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The Growing Importance of Revenue Integrity in Hospital Outreach

Revenue integrity continues to be a hot topic in healthcare, even as its exact definition is still being hashed out. Broadly, revenue integrity focuses on reducing compliance risk while ensuring optimal reimbursement. The National Association of Healthcare Revenue Integrity (NAHRI) dryly states the goal of RI is “to prevent recurrence of issues that can cause revenue leakage and/or compliance...

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XIFIN RPM 11: Gain Unmatched Insights and Automation to Improve Claim Accuracy and Reimbursement

Diagnostic laboratory and independent device testing facility (IDTF) leaders face increasing volumes, more rigorous payor requirements, and changing reporting requirements. Diagnostic providers are actively seeking to maximize reimbursements and reduce costs. To help meet these demands, XIFIN has introduced the latest version of its an award-winning revenue cycle management (RCM) platform, XIFIN...

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Still Using Spreadsheets to Manage Your Lab Business? There Is a Better Way – Practical AI and Advanced Analytics

Laboratories, pathology practices, molecular diagnostic providers, and hospital outreach programs, as well as remote patient monitoring device companies, process millions of claims worth billions of dollars each year. Yet many diagnostic providers are still using spreadsheets, or legacy data management tools to do their financial or operational analysis. As a result, key financial and operational...

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Proving Your Lab’s Value and Embracing Lab 2.0

Lab 2.0 is a growing ideology in the laboratory industry that can best be defined as an effort to use diagnostics to help improve quality and outcomes while reducing cost. This means breaking away from laboratory norms and focusing more on innovation.The Lab 2.0 initiative is proving that with the proper use of diagnostics data, labs can not only change the healthcare cost curve, but they can...

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Hottest Blog Topics of 2019

In 2019 we discussed many thought-provoking topics and trends regarding laboratories, medical billing, revenue cycle management, and much more. Here is a short recap of the top 5 most-influential blog posts:1. Hidden Landmines in Revenue Cycle Management: Industry Challenges, Patient Engagement, and Denial TrendsMany trends in payor behaviors and reimbursement go unnoticed due to outdated RCM...

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