02:09
Faizan
This article explores one of the most interesting questions that hospitals should be asking themselves? How much are missed follow-ups costing you? and How could Revenue Cycle Management help?
This article addresses strategies to improve revenue, improve care transitions and achieve better patient outcomes and hospital performance. Transitions in care occur as patients move from one facility to another and from one provider to another. Most commonly, this refers to discharge from the hospital to any less acute care setting or discharge from a rehabilitation center to home as a patient recovers from acute illness or injury. Risks of care transitions include adverse drug events, symptomatic worsening, hospital readmission, and missed follow-up. Patients with depression and substance abuse, multiple prior hospitalizations, and complex medication regimens are at highest risk for readmission. We need to get the patient back in our facility.
Take this simple equation and extrapolate: (500 total patients -175 returned for follow -up = 325 did not)
What other types of Revenue are hospitals missing out on?
Hospital-based physicians encounter several challenges with capturing revenue typically experienced by office-based physicians. Integration with the hospital patient accounting systems and business office can create issues resulting in longer days in A/R, increased bad debt and lost revenue.
Hospital-based physicians are the anesthesiologists, emergency physicians, hospitalists, radiologists, pathologists, neonatologists and others who treat patients in an inpatient setting. In general, these physicians aren't employees of the hospitals in which they work. For billing purposes, they often use a remotely located billing staff or outsourced company.
Revenue Cycle Management Challenges for Hospital-Based Physicians
These physicians also use the hospital's computer systems. If the hospital-based physicians work in more than one hospital, they're using different systems. These disparate IT systems increase complexity and make revenue cycle management more difficult. For example, a significant gap can exist between when the hospital-based physician treats a patient and then bills for the service.
Furthermore, the hospital's IT systems are geared to those things that enhance hospital revenue, not professional fees for physicians. In many cases, these physicians are on their own in terms of billing and revenue cycle management.
Another challenge in this scenario is the paper-based hospital. If physician documentation is paper-based, are more time-intensive to manage and are more prone to errors. And, correcting these inefficiencies is a major undertaking. These compounded issues greatly affect revenue cycle management.
This article addresses strategies to improve revenue, improve care transitions and achieve better patient outcomes and hospital performance. Transitions in care occur as patients move from one facility to another and from one provider to another. Most commonly, this refers to discharge from the hospital to any less acute care setting or discharge from a rehabilitation center to home as a patient recovers from acute illness or injury. Risks of care transitions include adverse drug events, symptomatic worsening, hospital readmission, and missed follow-up. Patients with depression and substance abuse, multiple prior hospitalizations, and complex medication regimens are at highest risk for readmission. We need to get the patient back in our facility.
Take this simple equation and extrapolate: (500 total patients -175 returned for follow -up = 325 did not)
What other types of Revenue are hospitals missing out on?
Hospital-based physicians encounter several challenges with capturing revenue typically experienced by office-based physicians. Integration with the hospital patient accounting systems and business office can create issues resulting in longer days in A/R, increased bad debt and lost revenue.
Hospital-based physicians are the anesthesiologists, emergency physicians, hospitalists, radiologists, pathologists, neonatologists and others who treat patients in an inpatient setting. In general, these physicians aren't employees of the hospitals in which they work. For billing purposes, they often use a remotely located billing staff or outsourced company.
Revenue Cycle Management Challenges for Hospital-Based Physicians
These physicians also use the hospital's computer systems. If the hospital-based physicians work in more than one hospital, they're using different systems. These disparate IT systems increase complexity and make revenue cycle management more difficult. For example, a significant gap can exist between when the hospital-based physician treats a patient and then bills for the service.
Furthermore, the hospital's IT systems are geared to those things that enhance hospital revenue, not professional fees for physicians. In many cases, these physicians are on their own in terms of billing and revenue cycle management.
Another challenge in this scenario is the paper-based hospital. If physician documentation is paper-based, are more time-intensive to manage and are more prone to errors. And, correcting these inefficiencies is a major undertaking. These compounded issues greatly affect revenue cycle management.
Posted in: business
