The Impact of Hospital and Outreach Laboratory Revenue Cycle Management Incentive Misalignment

Many hospital finance leaders think they are collecting at a higher rate than they actually are since write-offs appear as an adjustment to revenue. At the same time, they try to maximize the value of their revenue cycle management (RCM) technology investments and workforce by requiring the outreach laboratory claims to be handled by the same team and systems as the hospital and health...

Read


More Leading Hospital Laboratories Are Outsourcing Revenue Cycle Management

  • Dec 6, 2019

As value-based care initiatives and reform continue to put pressure on hospitals to decrease inpatient volumes, achieve outcomes goals, and provide cost-effective care, clinical services outsourcing is becoming a necessity. At the same time, based on XIFIN customer analysis, many hospital laboratories fail to capture as much as 30% of the revenue that is due to them. This is especially true...

Read


AI Advances from Theoretical to Practical

For years artificial intelligence (AI) in healthcare has been a theoretical pipe dream, but as we approach the year 2020, practical AI applications seem to be becoming more of a reality. While AI machines will not be replacing human physicians in the near future, there are many other ways that these AI and machine learning technologies can assist in the health system.According to a BMJ...

Read


3 Steps to Ease the Prior Authorization Burden

Enjoy the following content from our partner, Infinx. It’s no secret that prior authorization (PA) requirements create a time-intensive burden that delays patient care and takes providers and staff away from their clinical activities only to spend that time with administrative tasks and redundant paperwork. The American Hospital Association (AHA) reported that...

Read


6 Key Areas Lab RCM Provides Value

Too often, hospital outreach and outpatient lab leaders have enterprise revenue cycle management (RCM) systems pushed on them in a misguided attempt to save money or increase the ROI of the health system’s hefty EMR or EHR technology investments. However, a purpose-built laboratory RCM more than pays for itself while improving enterprise system ROI by increasing cash collections while reducing...

Read


Enabling Precision Medicine Through AI

Enjoy the following content from our partner, Fabric Genomics. Precision medicine is of growing interest for healthcare providers and hospitals. The Precision Medicine Initiative defined precision medicine as an "emerging approach for disease prevention and treatment that takes into account people's individual variations in genes, environment, and lifestyle." At...

Read


IDC Makes the Case for Purpose-Built Revenue Cycle Management Solutions

In September, International Data Corporation (IDC) released a new white paper, “Making a Case for Purpose-Built RCM: How Actionable Data and Lab Visibility Benefits Health Systems.” In this paper, IDC research director, Mutaz Shegewi outlines the many reasons that a laboratory-specific revenue cycle management (RCM) system is the best choice for hospital and health system outreach laboratories.In...

Read


The Ugly Truth About Payors and PAMA

Recently CAP Today provided an excellent recap of XIFIN CEO and Executive Chairman, Lâle White's Executive War College presentation "Ugly Truth about Payors & PAMA: What Labs Can Expect and How to Respond." In this blog post, we break down some of the key points: PAMA Is a Price Reduction ProgramContrary to its publicized goal of achieving market-based pricing, the government...

Read