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Proposed Changes to Hospital Price Transparency Rule: Radiology, Laboratory and Pathology Impacted

The Hospital Price Transparency Rule was introduced to help patients identify the cost of hospital items or services before receiving care.  Under the rule, hospitals are required to provide clear, accessible pricing information online in two ways:A comprehensive machine-readable file containing standard charges for all items and services provided by the hospital. A consumer-friendly list of...

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Delta Variant Impact on Lab Testing Volumes

The impact of the SARS-CoV-2 Delta variant is increasingly severe. The CDC has determined this strain is nearly twice as contagious as previous variants and two studies indicate Delta patients are more likely to be hospitalized than those infected with Alpha or the original virus strains.1 97.4% of all U.S. COVID-19 cases stem from this variant.2Infection numbers are rising rapidly. On August 11...

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Hospital Price Transparency: Does it Change Your Outreach Lab Program Strategy?

Recently, I had the great privilege to participate in a Healthcare Financial Management Association (HFMA) virtual panel discussion on compliance with hospital price transparency requirements. One of the primary topics I covered during the discussion was how technology can help reduce the “lift” for hospital outreach laboratories to achieve and maintain compliance with the new rule, which became...

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Five Steps to Capture Lost Revenue for Hospital Outreach and Outpatient Services | Part 5: Sharpen Focus on Stakeholder Access and Engagement

This blog post is the final installment of our five part series. View Part One, View Part Two, View Part Three, View Part Four. Pressure on hospitals and health systems to promote transparency, access, and engagement for patients and physicians is accelerating on multiple fronts. For example, as of January 1st 2021, CMS requires hospitals to post specific pricing data for at least 300 “shoppable...

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CFO Perspective: Boosting Outpatient Profit with Optimized RCM

Many health system and hospital executives look to outreach, outpatient, and ancillary services to impact their organization's cost structure and quality performance.However, these organizations typically employ EHR systems designed for inpatient service revenue cycle management. This leads to reduced visibility into key outpatient RCM problem areas and metrics that enable critical decision-...

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Five Steps to Capture Lost Revenue for Hospital Outreach and Outpatient Services | Part 4: Establish Universal Compliance in RCM

This blog post is part four of a five part series. View Part One, View Part Two, View Part Three, View Part Five. Running afoul of regulatory compliance requirements is a significant concern for hospital administrators and finance leaders—with good reason: the consequences can be steep. For example, in June 2020, a Georgia-based hospital system agreed to pay $16 million to settle multiple...

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Five Steps to Capture Lost Revenue for Hospital Outreach and Outpatient Services | Part 3: Capture and Exploit the Right Data

This blog post is part three of a five part series. View Part One, View Part Two, View Part Four, View Part Five. In this series, we’ve explored the substantive topline and bottom-line impacts of front-end revenue cycle automation and enhanced claim denial management capabilities. Next, we look at capturing and exploiting the right data, to help regain lost outpatient revenue. Faced with the...

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Five Steps to Capture Lost Revenue for Hospital Outreach and Outpatient Services | Part 2: Enhance Denial Management Capabilities

This blog post is part two of a five part series. View Part One, View Part Three, View Part Four, View Part Five. Part one of this series explored the adverse topline and bottom-line impacts of using an EHR system to manage outreach and outpatient services billing. We learned how the front-end automation functionality of a purpose-built revenue cycle management (RCM) system, used in concert with...

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