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Hospital Revenue Cycle Management

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Concern for the patient is always at the top of any hospital's priorities. However, the truth is that healthcare facilities in the US are in steep competition for revenue. In that respect, hospitals are just like any other business, and anything that has a negative impact on the bottom line has to be addressed.



The registration process is often a critical area that is ripe for improvement and one that can have a significant impact in both patient satisfaction and the hospital's bottom line. The wrong information can lead to registration errors, claim payment delays or denials and write-offs. A recent Press-Gainey survey shows the top two factors that contribute to a patient's positive view of their health care experience: the speed of registration and the cheerfulness of the employees.

However, registrars need to deal with an enormous level of complexity at the registration point: Determining the right insurance code, verifying insurance eligibility, providing and estimate of the cost, collecting patient co-pays, and so many other processes that have a direct impact on the hospital's ability to get a timely payment for the services it provides.

Not surprisingly, technology providers are trying to respond to these challenges with ever increasingly powerful registration systems. One such solution, Automated Intelligent Guidance, allows registrar to be interactively guided through all the complex processes and to bring information together from previously disparate applications. Think of Automated Intelligent Guidance as having the best, most experienced, most knowledgeable registrar working 24 hours a day, 7 days a week at every registration point.

In the complex, dynamic, payer environment, change is a constant. Allowing registration experts to quickly modify and add new rules easily and graphically with little to no assistance from the IT department eliminates the time-consuming delays that are associated with application re-programming and re-certification. It also allows the implementation of new or changed processes, policies, rules, regulations and procedures in minutes rather than days or weeks.

Healthcare technology providers can enhance their existing products by embedding this functionality into their existing applications, and for healthcare facilities of any size implementing such a solution allows to increase revenue often during the first month the system is deployed. Claims that would previously have been delayed - or written off - are now paid promptly. And this has to be a critical deciding factor: A solution that will pay for itself many times over and, most importantly, the benefits can be realized during the first fiscal year, not years down the road!

Copyright (c) 2008 Oscar Gonzalez
Hospital Revenue Cycle Management
If you have ever received treatment at a hospital in the US you have probably been exposed to some of the admin complexity that this entails. Such are the innefficiencies in the administration processes that according to the American Hospital Association sixty percent of hospitals lose money providing patient care.

To be precise, Healthcare Providers lose $60bn per year because of administrative errors. To put this into perspective this equates to the 2007 cost of providing universal healthcare through the National Health Service to 25 million people in the United Kingdom.

Problems begin right at the registration point. It always amazes me just how much information must be gathered and processed at patient registration time; information such as insurance plan code, insurance eligibility, demographics, credit risk, charity availability, deductible amount and much more. Patient registration not only involves the creation of the patient's medical record, which must be accurate in order to provide appropriate treatment and care, but, in addition, a healthcare provider's ability to collect payments directly correlates to an efficient and accurate registration process.

An innovative approach to improving the registration process is to enable hospitals to not only access the information needed, but to customize the information to fit the required process, and then intelligently and automatically guide the patient-facing employees to use the information effectively through on-screen interactive guides.

To understand what I mean by the patient-facing employees being ''intelligently guided'', let's examine one of the many registration processes that are key to the hospital's overall revenue cycle: the insurance verification process. When a registrar has gathered enough information for the insurance verification process to be carried out, a message is sent to the appropriate data source to validate that the patient does have that particular insurance plan and it is in force at that point. The system then validates the terms of the plan and what the copay amounts are. During the registration, it sends that information back to the registrar, who would be automatically prompted to use that information, and then be guided to the next set of relevant questions.

With other methods, the information received from the different sources is not readily available in an easy-to-use format. The registrar has to interpret the information and glean whatever information is relevant. On the other hand, with a system like the one described here, the data is automatically interpreted and the appropriate set of prompts is shown to the registrar to seamlessly continue to the next step in the registration process.

An additional requirement for such a system is that it seamlessly integrates with a healthcare provider's existing patient registration system, thus allowing the hospital to have a patient registration system that determines who is going to pay for the treatment and in what shares it is going to be paid - part insurance, part Medicare, part Medicaid or part co-pay or if it is the growing number of people who are self-paid or self-insured. And when there are multiple insurance companies, the claim needs to be submitted in the right order.

Innovative systems like this can vastly improve the hospital's revenue cycle. The result? Better processes which are error-free, less costs, a drastic reduction of losses and ultimately more money available to be spent where it really matters: providing a better service to patients.

Copyright (c) 2008 Oscar Gonzalez
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Oscar Gonzalez has sinced written about articles on various topics from Site promotion. Oscar GonzalezCincom Intelligent Business ApplicationsFor more information about how to improve healthcare revenue cycle applications visit the. Oscar Gonzalez's top article generates over 14800 views. to your Favourites.
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