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Blog Posts by Tag: Revenue Cycle Management

Don’t Let a Crisis Misguide Your Choice in Revenue Cycle Management Systems for Outreach or Outpatient Labs

Hospital outreach program leaders are very familiar with management from the hospital or health system proposing that the current electronic health record (EHR) system is sufficient to support the outreach and outpatient laboratory revenue cycle management (RCM) process. “It’ll save money,” they say. “They (the vendor) tell us that it works fine for outreach and outpatient lab claims,” they add....

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The Two Most Important Documents Produced by a Lab: Results and Claims

In today’s complex diagnostics market, it is easy for lab leaders to get distracted by rapid volume changes, new regulations, fee schedule changes, restrictive payor policies, and significant reductions in reimbursements. The diagnostic providers that thrive in this often-unpredictable market are those that focus on the two most important information sources produced by a laboratory ― test...

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XIFIN Portals Improve the Client and Patient Experience While Helping Laboratories Manage Cost

Historically, when a patient received an Explanation of Benefits (EOB) and an associated bill for laboratory diagnostic services, and the patient had any questions about the charge(s), they had to call into the laboratory to get those questions answered. They also needed to call into the laboratory to ask to set up a payment plan, if they could not afford to pay their balance in full. In some...

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Business Intelligence and Advanced Analytics Deliver New Data Insights for Diagnostic Providers (Part 1 of 2)

I see the process of data science as being similar to the process historians go through to understand our past. In each case, we are looking back at something that has happened and making interpretations about it and how it might influence our future. In doing so, both data scientists and historians rely on primary data sources and sometimes secondary data sources. The challenge of using...

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Amid Chaos — Big Changes Can Create Future Opportunity and Resilience

Unquestionably, the COVID-19 pandemic has had a significant impact on the diagnostic industry. Whether you manage a hospital outreach program, pathology practice, remote patient monitoring company, or an independent lab with a broad test menu – volumes have been reduced dramatically with the cancellation of elective procedures. As the XIFIN Laboratory Volume Index reveals, some diagnostic...

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Appreciation for Dedicated Lab Warriors

Laboratory Professionals Week, April 19-25, is an annual celebration of lab professionals and pathologists who play a vital role in healthcare and patient advocacy.This year, Lab Week is occurring while lab professionals and pathologists are staunchly working and sacrificing on the front lines of the COVID-19 pandemic. Laboratory professionals...

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COVID-19: Maintaining Momentum During Volume Recessions

Pathology practices and laboratories across the country have begun to feel the financial impact of COVID-19. With most states placing a moratorium on elective surgeries until late April, or strongly recommending it, diagnostics providers are seeing anywhere from a 30-60% drop in their outreach volumes (see our Lab Volume Index for a more detailed breakdown). With the deterioration of margins in...

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The Marriage of Diagnostic Data and Artificial Intelligence to Dramatically Improve Health System Decision Making

Diagnostic data is transformative yet often underutilized. The volume of diagnostic claims and their related financial data is ripe for harvesting insights that can be a catalyst for health system decision making. Identifying leading indicators such as payor behavior and reimbursement trends can assist outreach programs and laboratories in optimizing their processes, and better managing their...

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