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Blog Posts by Tag: Outsourced Billing

Outsourcing All or Some of the RCM Process Supports Compliance

The healthcare industry is notorious for nearly constant changes in laws, regulations, government, and payor requirements. It is difficult for an individual diagnostic provider to keep up with all the changes, particularly as it relates to compliance. Any compliance misstep can result in lost revenue, fines, and even extreme penalties like debarment, corporate integrity agreements, and criminal...

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Mitigating 2023 Proposed Medicare Reimbursement Cuts

Over the past few years, due to the public health emergency (PHE), Congress has stepped in to halt pending Medicare cuts. However, legislative intervention during the PHE only delayed the cuts until the following year. With the proposed 2023 Medicare Physician Fee Schedule released in July, which contained several reductions, and the return of the 2% sequestration, healthcare providers need to...

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Understand Black Book Research's Assessment Criteria for Evaluating RCM Services Providers on Measures Associated with Service

This blog is part of a series. Read Part 1 and Part 2. This is our third and final blog in this series about the advantages of leveraging Black Book Research’s comprehensive assessment criteria for evaluating outsourced revenue cycle management (RCM) service providers. In this blog, we focus on the measures associated with Service.Black Book Research evaluates outsourced diagnostic/laboratory RCM...

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Things to Consider When Moving to an Insurance-Based Reimbursement Model for Remote Patient Monitoring and Medical Devices

Negotiating payment agreements with commercial and government payors can increase both your market share and your revenue substantially. But it can be challenging for smaller or newer medical device or remote patient monitoring companies and IDTFs to get the attention of large payors. One way to help this is to have a well-articulated, compelling value proposition, such as filling a known gap in...

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Part 4: Analytics for Finance Leadership

This is the fourth installment of a four-part series. View Part 1 (How to Calibrate Hospital Lab Financial Performance), Part 2 (Analytics for the RCM Team), or Part 3 (Analytics for the Lab Director). Increased staffing costs and investment losses are impeding hospital profitability. Recent financial disclosures by large health systems including Kaiser Permanente, Providence Healthcare, and Mayo...

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Part 3: Analytics for the Lab Director

This is the third installment of a four-part series. View Part 1 (How to Calibrate Hospital Lab Financial Performance​), Part 2 (Analytics for the RCM Team), or Part 4 (Analytics for Finance Leadership). Hospital financials have partially rebounded from a difficult start in 2022, but operating margins remained at a loss in March, for the third consecutive month. Meanwhile, hospitals continue to...

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Understand the Black Book Research Criteria to Choose the Right Outsourced RCM Services Provider

This blog is part of a series. Read Part 1 and Part 3. As our second blog in this series about the benefits of using Black Book Research’s comprehensive set of assessment criteria to evaluate outsourced revenue cycle management (RCM) service providers, we focus on the measures associated with Security, Compliance, and Trust.Black Book Research evaluated outsourced diagnostic/laboratory RCM...

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Part 2: Analytics for the RCM Team

This blog post is the second installment of a four-part series. View Part 1 (How to Calibrate Hospital Lab Financial Performance​), Part 3 (Analytics for the Lab Director), or Part 4 (Analytics for Finance Leadership). Profitability and patient satisfaction targets remain elusive for hospitals in 2022, but laboratory outreach and outpatient operations can contribute to these larger organizational...

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