Home > Blog Tag

Blog Posts by Tag: Revenue Cycle Management

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...

Read


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...

Read


Recapping the NILA Lab Leaders Forum and Mid-Winter Meeting

Last weekend’s NILA conference covered a number of items currently impacting laboratories across the country. Several topics, in particular, saw repeated discussions and, in some cases, vigorous debate from the audience. Here are the hottest topics and key takeaways from the NILA meeting:Prior Authorization’s Pinch This was potentially one of the most intriguing discussions revolved around prior...

Read


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...

Read


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...

Read


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...

Read


Fighting Back Against Increased Claim Rejections Under ICD-10

The Dark Report recently reported that the implementation of ICD-10 diagnosis codes in 2015 has resulted in disrupted laboratory test billing and collections, rejected claims, and increased demands for medical-necessity documentation.Lab billing experts, including Kyle Fetter, Executive Vice President and General Manager of Diagnostic Services for XIFIN, said that alongside the new codes, payors...

Read


Top 5 Industry News Topics of 2019

2019 saw many policy changes and newsworthy events that affected labs and medical billers. Here is a recap of our most-viewed industry news articles of 2019:1. New Codes Effective July 1, 2019 – Proprietary Laboratory Analysis (PLAs)The following new codes may need to be manually added to the HCPCS file by the MACs with an effective date of July 1, 2019. These new codes are also contractor-priced...

Read