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
Optimize your revenue cycle for today’s challenges and tomorrow’s goals
In this dynamic LinkedIn Live discussion, Christine Stetler, BSN, RN and AVP of Solution Engineering at MedeAnalytics, unearthed strategies for…
Read on...Enhancing healthcare delivery with explainable AI: A methodological leap forward
Healthcare providers and payers continually seek methods to enhance patient care and operational efficiency. With the advent of complex data…
Read on...Another year, another great HIMSS!
HIMSS24 was a fantastic event, as always. One of our favorite additions this year was the Digital Health Technology Theme…
Read on...Optimize your midcycle for telehealth services
Telemedicine is now a permanent fixture in homes across America. A majority of healthcare organizations have established the technology necessary…
Read on...