Blog Posts by Tag: Technology
4 Reasons Your Lab Should Use Automated Bank Reconciliation
In a recent blog post titled “How the Most Successful Laboratories in the Country Continue to Thrive in the Midst of an Increasingly Complex Reimbursement Environment,” XIFIN Vice President of Sales, Steve Neilson discussed the importance of real-time visibility and business intelligence for laboratories. Laboratory revenue cycle management (RCM) solutions that are interoperable and are designed...
“Big Data” Can Be a Big Threat – If You’re Not Prepared to Control It
Enjoy the following content from our strategic partner, U.S. Healthtek. Imagine a day where “Big Data” isn’t some abstract concept that costs you money and resources, but is a vital component to your lab’s success as a source of revenue.Well, that day was yesterday. Competitors now understand that the abundance of data is meaningless unless you know how to manage...
U.S. HealthTek: Considering a New LIS? What You Need to Know
Enjoy the following content from our strategic partner, U.S. Healthtek. Here at U.S. HealthTek, we’re seeing a greater interest in new and upgraded laboratory information systems (LIS). This is a little something I know about. When I started my career in the healthcare industry in the mid-1980s, one of my initial projects was to build a lab system for National...
How the Most Successful Laboratories in the Country Continue to Thrive in the Midst of an Increasingly Complex Reimbursement Environment
The business of laboratory revenue cycle management (RCM) becomes more complex every day; with reductions in reimbursement, increasing rejections and denials, payor specific billing rules, shifting financial reporting and accounting requirements (PAMA, FASB ASC 606, medical economics reporting), OIG and EKRA (false claims) compliance standards, malware and ransomware attacks, etc. Once there was...
Improving Operational & Financial Performance – Why EHR Revenue Cycle Modules Aren’t Enough for Hospital Labs (Part 3)
As discussed in Part 1 and Part 2 of this 4-part series, hospital outreach and outpatient laboratories are often asked to use the hospital’s enterprise revenue cycle management (RCM) module that is offered as part of the EMR/EHR software in an attempt to save money or accelerate the return on investment on the enterprise software system. While this may seem like a smart, economical decision, it...
Key Themes from the Precision Medicine Institute Symposium
Earlier this month I attended the Precision Medicine Institute Symposium 2019 in New Orleans where I had the privilege of presenting Precision Medicine Informatics: What Hospitals, Physicians, and Payers Need to Know about Challenges, Approaches, and Best Practices. The one and a half day symposium organized by the Dark Intelligence Group provided an opportunity for trailblazers in the field...
What does the Amazon, JP Morgan, and Berkshire Hathaway Partnership Mean for Laboratories?
Amazon, JP Morgan, and Berkshire Hathaway announced they are planning to get more involved with healthcare, particularly to lower costs. This partnership is initially focusing on reinventing healthcare for their employees, as the three firms form an independent healthcare company for their employees in the United States.As healthcare costs for employers and employees continue to rise, as do...
5 Best Practices: Secure Value from Digital Transformation Initiatives
The digital transformation wave is going to push your laboratory and profession to their limits if it hasn’t already. From the flood of leading-edge diagnostic specialties to the increasing volume of clinical data and the importance of multidisciplinary team collaboration, today’s healthcare agenda requires the right health information technology and data strategies that deliver timely diagnostic...
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