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Blog Posts by Tag: Revenue Cycle Management

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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No Surprises Act: 4 Key Steps to Providing Good Faith Estimates

The No Surprises Act protects patients from receiving a surprise medical bill by prohibiting balance billing and requiring providers to provide good faith estimates (GFE) of services. A GFE should be provided to all patients who are uninsured and should include all services expected to be provided by both primary and co-providers.While the legislation went into effect on January 1, 2021, HHS did...

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Must-Have Compliance Capabilities to Manage Risk and Help Drive Growth

Must-Have Compliance Capabilities to Manage Risk and Help Drive Growth Thorough RCM processes address a myriad of compliance issues that can cost an organization money, business freedom, and even exit opportunities. Compliance requirements are continually changing, and any misstep could result in lost revenue, fines, and even extreme penalties such as debarment, corporate integrity agreements,...

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Optimizing Patient and Payor Payments with Patient Responsibility Estimator Tool

In 2021, the total US out-of-pocket healthcare patient spending increased by 10% from the previous year and is expected to continue to increase by 9.9% annually through 20231. An increase in a patient’s financial responsibility is a growing problem in healthcare and is driven by several factors including: Payors shifting a larger portion of the payment to patient responsibility, on average...

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The Importance of Connectivity and Automation to Accelerate Revenue Cycle Management: A Focus on Insurance Eligibility and Discovery

Kouri AndrewsDirector, EDI Operations, XIFIN Mike FauverAVP Health Systems, XIFIN Using disconnected systems to manage the complexity of medical claim billing and revenue cycle management (RCM) can lead to errors, inefficiencies, and rework. This drives delayed reimbursement and higher operating...

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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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Laboratory Test Claim Denials and Appeals Trends

I recently had the privilege of presenting an in-person workshop in conjunction with The Dark Report Executive War College on Laboratory and Pathology Management. The workshop was on the topic of “Latest Trends and Denials Involving Lab Test Claims.” In this session, I shared XIFIN insights into payor behavior changes and shifting claims processing protocols and highlighted the importance of a...

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How Real-Time Connectivity Can Drive Revenue, Reduce Cost, and Increase Client Satisfaction

In today’s healthcare environment, there is a lot of uncertainty about what revenue will look like in the face of declining reimbursement, increasing payor denials, and staffing shortages. At the same time, there are greater expectations on the workforce to comply with regulations and payor reimbursement requirements, which can differ by payor and state. Therefore, it is essential for healthcare...

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