PMMC Healthcare Revenue Cycle Blog
Stay up to date on best practices for healthcare revenue cycle management with PMMC's blog.
JFK Health Selects PMMC For CJR Bundled Payment Analytics
We're pleased to announce that PMMC has been selected by JFK Health, based in Edison, NJ, for bundled payment analytics to manage the costs for the Comprehensive Care for Joint Replacement (CJR) Model.
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Top 10 Revenue Cycle Management Initiatives
We know revenue cycle teams are very busy and often managing competing priorities. So what are their top initiatives today? A recent survey of 93 senior healthcare finance executives provides some insight. According to the survey from Connance and Porter Research, senior healthcare finance executives are more likely to implement updated IT and hire additional staff than contract with outside consulting services in order to optimize revenue cycle workflows.
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Cabell Huntington Selects PMMC For Denial Management
We're pleased to announce that PMMC has been selected by Cabell Huntington Hospital (CHH) for contract management and denial management.
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Price Transparency Still Failing In Most States - Here's Why
Despite efforts to improve price transparency, 43 states received an "F" grade according to the Health Care Incentives Improvement Institute (HCI3 ) – Catalyst for Payment Reform (CPR) Report Card on State Price Transparency Laws.
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Visit Us In Vegas! PMMC to Reveal Revenue Cycle Solutions at HFMA ANI
Las Vegas is the place to be next week (June 26-29) for healthcare finance and the revenue cycle at the annual HFMA National Institute (ANI). PMMC will be front and center in the exhibit hall, so be sure to visit us at Booth 123.
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Win Payer Negotiations With Contract Modeling
It’s a disadvantageous situation from the beginning: It’s time to renegotiate payer contracts, but your hospital has a high volume of commercial contracts and payers are shifting to new reimbursement methodologies. Not to mention the contract language is open to interpretation.This is a situation Managed Care is placed in more and more often these days. These factors give leverage to commercial payers and make it difficult for hospitals to determine how the new contract terms impact net reimbursement revenue, especially when using tools like Microsoft Excel.
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Why Denial Management For State Medicaid Is So Frustrating
It's estimated that nearly 7% of healthcare providers claims are denied by payers. The good news is that nearly 75% of these items can be successfully appealed and collected. However, this process is tedious and, more importantly, extremely time consuming for staff. Some payers are notorious for denying claims more frequently and are slower to pay than others. State Medicaid programs are known to be one of them. Medicaid state programs are among the slowest paying and least transparent payers, with an overall average denial rate of 18.5 percent (compared with 6.8 percent for all payers) and an average of 44 days spent in Accounts Receivable (compared to 26 days for all payers).
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[Webinar] How To Create A Friendly Patient Estimation Process
Did you know that 80 percent of patients find a patient estimate to be helpful, but only about 25 percent of patients actually receive one?
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No Joke: CJR Ruling Starts Today
No April Fools joke here. Medicare's Comprehensive Care for Joint Replacement (CJR) ruling officially goes into effect TODAY in 67 markets leaving many hospitals accountable for the total cost of services across the entire episode of care for hip and knee replacements. The financial risk for hospitals is between $500,000 and $3 Million in payback penalties over the next five years. That's a lot of money.
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CJR Is Here: How To Prepare for The Financial Impact [Webinar]
This is not an early April Fools joke. Medicare's Comprehensive Care for Joint Replacement (CJR) officially goes into effect on April 1st in 67 markets (the specific MSA's can be found at the bottom of this post), leaving many hospitals accountable for the total cost of services across the entire episode of care for hip and knee replacements. That's why we're partnering with Healthcare Business Insights (HBI) on March 15th for a webinar to help hospitals prepare for the financial impact of the CJR model.
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