PMMC Healthcare Revenue Cycle Blog
Stay up to date on best practices for healthcare revenue cycle management with PMMC's blog.
7 Tips to Maximize Reimbursement with Hospital Contract Management
The hospital contract management system is the key to maximizing financial performance, minimizing risk, and ultimately managing all aspects of payer contracts to get reimbursed accurately. However, it’s becoming more and more difficult to predict reimbursement. As third-party payers shift from a “fee-for-service” or “percent-of-charge” reimbursement model to value-based reimbursement, contract terms, coding, and their interpretations inevitably become more complex.
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8 Implementation Best Practices for Revenue Cycle Contract Management
Here’s a frightening statistic: Only 2.5% of companies successfully complete 100% of their projects. The reasons why, you ask? Requirements – Unclear, lack of agreement, lack of priority, contradictory, ambiguous, imprecise Resources – Lack of resources, resource conflicts, turnover of key resources, poor planning Schedules – Too tight, unrealistic, overly optimistic Planning – Based on insufficient data, missing items, insufficient details, poor estimates Risk – Unidentified or assumed, not managed
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