The healthcare financial landscape is constantly in a state of flux— with ICD-10, fee-for-value reimbursement, and shared accountability payment models contributing to the significant change – but one thing remains the same: uncompensated care is at an all-time high. To help providers navigate their financial health, MedeAnalytics Business Office provides insight into revenue and cost savings opportunities, by bringing complex patient accounting data into a unified view.
Comprised of several financial management tools our Revenue Cycle and Business Office solutions offer data analysis on accounts receivable, denials, bad debt, and payer contracts. Here are the top three tips and tricks you might consider when using the solution:
#1: Think Payer Management, not Payer Monitoring
Mitigate wasted staff time due to delay tactics and confusing information from payers. Intelligent insights allow you to manage and compare behavior on a payer-by-payer basis in order to optimize team efficiency.
#2: Shift Your Focus from Denial Appeals to Denial Prevention
Denial rates have increased in the past two years and appeal success rates for most organizations are falling short. You can get ahead of this by reallocating appeal resources towards prevention and focusing on avoidable errors based on historical results and trends.
#3: Smarter, not Harder, Self-Pay Collections
Due to the larger number of high-deductible ACA plans, the patient is now becoming one of, if not the largest payer. Streamline self-pay collections efforts by using predictive models to compute a patient’s propensity to pay.
Not using Business Office, but curious to learn more? Check out the Business Office solution page to read about the benefits.
Get our take on industry trends
Helping Accountable Care Organizations Navigate the Perfect Storm
In the ever-evolving landscape of healthcare, Accountable Care Organizations (ACOs) find themselves at the epicenter of a transformative era. Recently,…
Read on...Navigating the Medicare Landscape: Implications of the Latest Rule Changes for Healthcare Organizations
The Centers for Medicare & Medicaid Services (CMS) has recently unveiled significant proposed changes to Medicare Advantage (MA), Medicare Prescription…
Read on...Introduction to social risk: What healthcare leaders need to understand
‘Social determinants of health’ has been a common phrase for decades now, but the term social risk is much less…
Read on...AI is your new crystal ball: How predictive analytics can reduce denials
The idea of having a crystal ball to better understand what claims will be denied is an awesome concept. But one we can’t rely on. Thankfully, we have predictive analytics to take the place of a crystal ball.
Read on...