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Optimizing Revenue Cycle Management in Healthcare is More Important Than Ever

While the US is still suffering from the effects of the highly contagious COVID-19, it has arguably hit its healthcare system worse than anything else. Around 1.4 million people working in healthcare have lost their jobs. The number itself is quite shocking, however, what makes it worse is that the pandemic has changed everything. For instance, the US healthcare system used to be unaffected by any recessions, but COVID-19 has shown otherwise. This is because numerous hospitals have declared layoffs, furloughs, or are even shutting down due to unimaginable financial pressure. With that in mind, as hospitals are opening up, they need to reduce their losses right off the bat, otherwise, it will be hard for anyone to survive. Thus, revenue cycle management in healthcare is more crucial than ever now.

Optimize-revenue-cycle-management-in-healthcare-with-RightPatient

The numbers are drastic

It has already been mentioned that over 1.4 million healthcare professionals lost their jobs. That’s not where it stops, though. Since hospitals made the difficult but necessary choice to prepare for the overwhelming amount of COVID-19 patients by shutting down non-emergency care at their premises, they became financially crippled. The American Hospital Association stated that hospitals are losing a mindboggling $50 billion a month, due to the fact that they are seeing an extremely low number of patients – as low as 70%. Revenue cycle management in healthcare has always been a much-discussed topic, however, as the numbers show, it is of utmost importance now to optimize revenue cycles by reducing costs and mitigating losses – something that RightPatient can help healthcare providers with. But how does optimized revenue cycle management help hospitals deal with the financial crisis?

Benefits of optimized revenue cycle management in healthcare

Reduced denied claims

A streamlined revenue cycle depends on the level of accurate data present within the system. If there is a high level of accuracy, it reduces the chances of denied claims. Usually, denied claims occur when there are mistakes in payment claims. One example is when patients are mistakenly charged for services they have not used. RightPatient ensures that the patient is accurately identified from the beginning to the end of the process – substantially reducing denied claims. 

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Enhanced patient experience

An optimized revenue cycle means that the FTEs will spend less time on redundant tasks such as rechecking coding and billing for errors and focus more on providing better care to the patients – enhancing the patient experience. 

Higher and faster collections 

It is quite simple – if the revenue cycle is optimized, there will be higher collections with a lower number of errors. FTEs, thus, do not have their hands full of coding and billing errors – giving them the time to focus on the remaining collections, improving efficiency in the process. 

Accurate patient information 

An optimized revenue cycle means that you are ensuring patient data integrity; that is, from the beginning of caregiving to collections, the correct patient has been identified. This can be easily achieved using an accurate patient identification platform like RightPatient.

Better financial returns

One of the most vital parts of a healthcare provider that everyone scrutinizes, other than treating patients, is its financial performance. After all, these are the indicators as to how well a provider is doing. An optimized revenue cycle means that there are increased clean claims, faster collections, lower lost claims, and accurate patient data – all leading to improved revenue of the provider.

Since COVID-19 is still affecting the financial performance of providers, they need to ensure that their revenue cycle is as optimized as possible. 

Optimize revenue cycle with RightPatient

Optimized revenue cycle management in healthcare means that you need to have the correct data for the patient and you are ensuring that he/she is being billed accurately throughout the whole process. Thus, for a better revenue cycle, you need to ensure accurate patient identification. This is where RightPatient can help you.

It is a touchless biometric patient identification platform and is used by leading healthcare providers for a number of reasons. It prevents medical identity theft, optimizes the revenue cycle, reduces denied claims, prevents duplicate record creation, enhances patient safety, and more – leading to improved financials, boosting the bottom lines in the process. 

Upon registration, RightPatient locks the medical records of the patients with their photos. Whenever an enrolled patient comes in, all he/she needs to do is look at the camera and it identifies them within seconds, providing the correct patient record to the EHR user and ensuring accurate patient identification. This ensures that the correct patient is identified right from the start – reducing billing errors and denied claims and optimizing revenue cycle in the process. This is something that every provider needs to ensure to survive during this unprecedented situation.

RightPatient has years of experience and has been helping protect over 10 million patient records. Duke Health and Community Medical Centers, among others, are using RightPatient to ensure safe, hygienic, and accurate patient identification. Are you optimizing your revenue cycle sensibly? 

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5 Strategies to Ensure Revenue Integrity in Healthcare

Many healthcare providers were struggling financially before the pandemic. But now, the U.S healthcare industry is on the verge of financial disaster. According to the American Hospital Association, hospitals are bleeding approximately $50 billion per month due to canceled elective procedures and costs associated with treating COVID-19 patients. Many non-COVID patients have also stopped seeking primary care visits, including patients with life-threatening conditions, because they are worried about exposures. In addition, claim errors, denials, and payment delays that result from inaccurate patient identification, duplicate medical records, and medical identity theft still persist, all of which affects revenue integrity. 

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Adopting Value-Based Reimbursement (VBR) models has shown to have economic advantages but poses a real challenge for healthcare providers alongside ever-changing healthcare compliance regulations. Siloed workflows, data proliferation, and disparate systems make it difficult to achieve the collaboration that is needed for VBR to yield optimal results. However, intelligent revenue cycle management can be the key to achieving financial stability and revenue integrity. 

Identify the problem

Today’s environment requires automating workflows and considering the whole revenue cycle process to ensure revenue integrity. Healthcare providers want an easy, seamless way to manage revenue cycle without errors, such as those caused by patient identification issues. Considering the lack of electronic medical record (EMR) system capabilities to adequately address the critical need for accurate patient identification, it is vital to leverage complementary technologies with core-specific competencies that can improve the overall revenue cycle. For example, improving patient identification and matching processes at the front-end of the revenue cycle process can significantly reduce costs. 

As an industry-leader in touchless patient authentication, RightPatient has been helping many healthcare organizations reduce claim errors and denied claims by ensuring accurate patient identification. By eliminating denied claims linked to identification errors, healthcare providers can reduce the burden of back-end activities in the revenue cycle and simplify the reimbursement process to ensure revenue integrity.

Rely on technology

Adopting technology is also essential to ensure that clinical teams across the healthcare ecosystem are accessing high quality shared data to produce the best outcomes. Augmenting the organization’s core systems with complementary technologies on a single, integrated platform enhances internal collaboration with other teams or departments. For instance, RightPatient crosses departmental silos and brings transparency to patient healthcare data across disparate domains. Transparency across teams is critical. RightPatient will ensure that a holistic and accurate medical record of each patient can be accessed by clinical and operational staff members no matter where the patient is authenticated. By automating the patient identification and authentication process, RightPatient improves clinical outcomes and enables staff to proactively focus on other areas where their expertise has the most impact.

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Ensure compliance

According to the National Association of Healthcare Revenue Integrity (NAHRI), the goal of revenue integrity is to prevent issues that lead to revenue leakage or compliance risks through effective, efficient, and internal controls across the care continuum, supported by strong documentation and sound financial practices that can withstand audits at any time. 

Violation of healthcare compliance is a major contributing factor to financial losses. For instance, HIPAA violations are becoming more common across the U.S healthcare system. HIPAA compliance software, on the other hand, can help address this issue. Such software allows healthcare providers to simplify their compliance efforts and manage training through an effective communication system. Ensuring HIPAA compliance prevents privacy issues that can impact proper revenue cycle management and helps to avoid costly financial losses.

Accurate documentation and coding

Unfortunately, as long as healthcare providers do not address the issue of front-end data validation, claim denials will continue to wreak havoc. Inaccurate patient identification and medical identity theft still remain a major contributing factor to denied claims and payment delays. However, through accurate patient identification, RightPatient enables healthcare providers to bill and code each patients’ information accurately. By ensuring accurate and clinical documentation, this platform significantly reduces inefficiencies of denials and rework, thereby strengthening revenue integrity. 

Improve hygiene and foster patient trust with RightPatient

Healthcare providers are witnessing a reduction in non-infected patient activity due to the fear of COVID-19. Visits for general check-ups or other routine procedures have decreased to the obvious financial detriment of healthcare providers. These providers need to reassure their patients that they are taking all precautionary steps to maintain hygiene and control this contagious disease. Adopting RightPatient is a sensible part of this strategy. 

RightPatient is a completely touchless biometric patient identification platform that can accurately identify patients throughout the continuum of care. After capturing a photo from a smartphone, tablet, or webcam, RightPatient instantly identifies patients and retrieves their correct medical record. By securing unauthorized access to medical records, hospitals are able to prevent medical identity theft, reduce denied claims, and duplicate records – all of which are vital to a high-performing revenue cycle. 

RightPatient also offers remote patient authentication, which is becoming increasingly necessary as people are maintaining social distance by staying at home and getting treatment through telehealth practices. During this process, RightPatient validates patient identities by comparing their ID (e.g. driver’s license) and selfie photos. This process can also help healthcare providers to save money on more expensive identity proofing solutions through credit agencies. 

As patient care becomes more complex, so does the management of the revenue cycle. RightPatient can help to simplify and manage the complexity by ensuring safe, ubiquitous patient authentication from various patient encounter points. Full financial recovery from this pandemic may take years, but adopting RightPatient will ensure that you are on a faster path to success.

Patient identification helps improve revenue cycle

Hospitals Can Improve Revenue Cycle With Positive Patient Identification

The importance of digitization in healthcare delivery is becoming inevitable. As medical institutions and hospitals try to deliver a more value-based care environment, the RCM (revenue cycle management) has become more critical. According to HFMA/Navigant analysis, healthcare revenue cycle leaders are willing to invest more in technologies that will boost their revenue integrity, eliminate human error, and increase productivity in the future. All in all, they are targeting to improve the revenue cycle. 

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According to a report from Sage Growth Partners, one-third of healthcare providers have confronted more than $10 million in outstanding debt every year. Every year up to $125 billion is lost due to unpaid bills and underpaid claims, and the situation is nowhere near improving. As a result, more healthcare providers are demanding revenue cycle managers to revamp and automate their processes. 

Understanding the process flow

To understand how to improve revenue cycle management, we should know that it is usually divided into two separate parts, the front-end and the back-end process. The front-end revenue cycle management deals with patients directly. For example registering new patients, collecting information for patients, and confirming insurance eligibility and coverage. The back-end involves dealing with claims management, denial management, medical billing, and ultimate patient financial responsibility collection.  

Even with all the innovative ideas the RCM managers are putting into effect, healthcare organizations are still worried about:

  • Decreasing cost to collect
  • Providing quality patient experience
  • Reducing initial denial rates, which have gone up in both public and private organizations
  • Concerns about increasing out of pocket costs from consumers, which leads to payments being held up, delayed care, and uncollectible receivables. 

What can be done?

Instead of reaching out to professional RCM vendors, the healthcare providers and medical institutions can solve the problem with proper patient identification. The first essential step which helps to improve revenue cycle and reduce denied claims is to identify the patients accurately and bill them accordingly. Let’s look at the solution and the possible gains from this solution. 

RightPatient – Biometric Patient Identification Platform

A biometric patient identification platform such as RightPatient is a cutting-edge digital cloud technology used by many healthcare providers to address the sorts of problems mentioned above. Using biometrics has proven to be effective in identifying patients accurately.

How it works

During initial enrollment at the hospital, a patient’s biometric data like their iris or facial photos, will be used to keep their information locked and secure. Next time when the patient arrives at the hospital to avail of healthcare services, all he/she needs to do is just look at the camera, and the platform will identify their accurate medical records within seconds.

Halt denials before they start

Eliminating the problem at the front-end will ensure that you do not have to worry about back-end RCM staff dealing with denied claims. RightPatient will do that for you. Accurate patient identification from the beginning of the care will eliminate the risk of improper use of patient information, resulting in the rejection of claims. 

Who is using this solution? 

Healthcare providers such as the University Health Care System and Terrebonne General Medical Center are using RightPatient’s biometric identification platform to reduce the number of denied claims and improve their revenue cycle.  

Improve revenue cycle now

Using biometrics to identify patients has also proven to be effective in improving patient experience, reducing administrative burdens, and eliminating errors. Naturally, more time and resources can be invested to ensure the provision of quality care. Adding the front-end and back-end functions through RightPatient can help the hospital create a steady revenue cycle that responds to an evolving industry.

RightPatient-helps-improve-healthcare-revenue-cycle-management

Can Revenue Cycle Improvement Prevent Hospital Closures?

So many hospitals are closing their doors that it is hard to keep count nowadays. These closures happen for several reasons which we will discuss later. One of the latest ones to join this unfortunate group is Nix Medical Center, located in San Antonio, Texas. 

The 208-bed hospital once owned by Prospect Medical Holdings was acquired in 2012 and operated by Nix Health as the Nix Medical Center for 89 years.  

In addition to closing its hospital’s doors, Nix Health also had to close its home health division as well as Nix Specialty Health Center & Nix Behavioral Health Center, generating an estimated layoff of over 970 employees. 

RightPatient-helps-improve-healthcare-revenue-cycle-management

But why are these hospitals being closed?

Hospitals are supposed to offer health care and save lives. Thus the most important institutions in any society. So why are they being closing down? 

Well, the largest and most common reason is the lack of revenue. 

In this instance, with fewer people visiting Nix Medical Center the hospital simply couldn’t generate enough revenue to sustain it’s operational costs thus resulting in its inability to provide effective health care and subsequently closing its doors.

What to take away from this example?

Hospitals need to learn from this scenario and focus their efforts on better financial management via reducing denied claims via revenue cycle improvement. 

Known to cost any health system an average of more than $5 million each year, denied claims often occur due to mistaken billing of patients. For example, a patient visiting the hospital for a routine checkup is billed the cost for a surgical procedure and vice-versa. While this may sound peculiar you would be surprised to know just how common it is. Although 63% of initially denied claims are recoverable, they can cost as much as $8.6 billion in appeals-related administrative costs and why hospitals must find ways to mitigate such losses.

How can hospitals achieve revenue cycle improvement?

One way health systems can achieve revenue cycle improvement and lessen denied claims is by ensuring patients are correctly billed for the healthcare provided. 

To achieve this many progressive health systems are using RightPatient – a biometric patient identification platform. By implementing RightPatient, medical records are locked to each patient’s biometric data thus preventing unauthorized identity theft. 

Health systems such as Terrebonne General Medical Center and University Health Care System are already using RightPatient and are preventing medical identity theft, patient mix-ups as well as denied claims. RightPatient effectively reduces loss in revenue by ensuring each patient is billed correctly for the healthcare provided. Using biometric data, patient misidentification is also prevented. Each patient is required to register only once after a health system deploys the platform – attaching the biometric data with the EHR of the patient. Afterward, whenever that patient visits the hospital, RightPatient uses their biometric data to access their respective medical records for the previous diagnosis and prescribe the necessary treatment.

patient ID in healthcare

The Top 6 Reasons to Visit us in Booth #1252 at 2017 HFMA ANI

The Top 6 Reasons to Visit us in Booth #1252 at 2017 HFMA ANI

Visit us in Booth #1252 at the 2017 HFMA ANI Conference and learn more about the benefits of biometric patient identification.

The following post was submitted by Brad Marshall, Senior Enterprise Development Consultant with RightPatient.

If you are heading to Orlando this weekend for the HFMA show, please take a moment while you are walking the Exhibit Hall to visit RightPatient in Booth #1252. We will be on hand offering demos of our biometric patient identification solution and Smart App that converts any smartphone or tablet into a powerful patient recognition device. Not convinced? Here are the top 5 reasons why RightPatient is a must stop while navigating the exhibit floor:

  1. See the RightPatient Smart App –  As we just recently discussed on this blog, the RightPatient Smart App provides healthcare organizations the ability to extend the power and reach of our patient identification solution to any smart device equipped with a camera. Using augmented reality and deep learning to identify patients, the Smart App is an ideal tool for clinicians to quickly and accurately identify unconscious patients, verify patients prior to medical procedures, improve patient safety, and securely capture and share clinical images. 
  2. Learn How to Humanize Health IT – As you may already know, the RightPatient patient ID solution captures a high resolution image of the patient’s face and then links that image to their medical record. Several of our existing customers have provided feedback on these patient photos via their clinicians who say that these pictures serve an important clinical purpose and are helping to improve the patient experience. These patient photos are helping clinicians feel more comfortable and better connected to the patient often serve as reminders about the clinical context of the patient. Learn how RightPatient is helping healthcare organizations across the country become more patient-centered than ever before.
  3. RightPatient is a Finalist in CHIME National Patient ID Challenge – We think this is kind of a big deal. Being named a finalist in this important initiative that could very well change the face of patient identification in healthcare as we know it, we recognize that being named a finalist is a true testament to the validity of our solution. It’s worth mentioning that of the finalists named, RightPatient is the only vendor that has a solution already being used in healthcare by many hospitals throughout the country. Stop by and learn why our solution was named a finalist in the Challenge. Go Team RightPatient!
  4.  Safeguarding PHI – Cybersecurity has become quite a hot topic in healthcare as we have witnessed one hospital system after another falling victim to attacks and rushing to bolster their security defenses. We are elated to see the increased emphasis placed on protecting networks but what about taking the same steps to protect data? Network security and data security are two separate areas and any upgrade to cybersecurity defenses simply must be met with commensurate upgrades to safeguard protected health information (PHI). After all, the digitization of healthcare has opened many new doors to access PHI (e.g. – patient portals, mHealth apps, telemedicine), shouldn’t healthcare organizations be proactively taking measures to implement patient ID solutions that can secure it?
  5. Learn about our SaaS model – With our software-as-a-service (SaaS) model, healthcare organizations can implement the patient ID platform for a small monthly fee that includes software, hosting, and support. And don’t worry. Our artificial intelligence system runs in the secure, HIPAA-compliant RightPatient Cloud to minimize deployment and IT costs. What could be better? Stop by the Booth to learn more.
  6. Accurate Patient ID Helps Revenue Cycle Management – Since revenue is a dominating theme of the conference, we thought we would mention that it is a proven fact that increasing patient identification accuracy will help prevent duplicate medical records, reduce denied claims, and improve the revenue stream. Stop by Booth #1252 and learn how you can improve revenue cycle management through an investment in RightPatient.

Skimming the agenda, the HFMA staff has again assembled a very compelling, highly informative conference packed with outstanding curriculum. Don’t forget that the Exhibit Hall is a treasure trove of education too, and we encourage you to take time and stop by to see why our patient identification solution is dominating the healthcare industry. 

Take a moment to watch this short testimonial video from George Ann Phillips, Administrative Director of Revenue Cycle for University Health System in Augusta, GA:

Drop us an email at: sales@rightpatient.com to pre-schedule an appointment or drop in and see us at your convenience. We can’t wait to see everyone in Orlando!

The Top 6 Reasons to Visit us in Booth #1252 at 2017 HFMA ANIBrad Marshall is a Senior Enterprise Development Consultant with RightPatient® With several years of experience implementing both large and small scale biometric patient identification projects in healthcare, Brad works closely with key hospital executives and front line staff to ensure project success.

using biometrics for patient identification to increase patient safety

Patient Identification Deployment Video: Community Medical Centers

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Community Medical Centers implemented RightPatient using photo biometrics for patient identification to increase patient safety.

There are myriad reasons why a healthcare organization seeks to implement a biometric patient identification solution. It could be to prevent duplicate medical records. Or, perhaps to increase revenue cycle management efficiency and returns. Maybe it’s in an effort to better protect patient medical identities. Whatever the reason, there is one recurring theme that is a constant in all biometric patient ID deployments – increasing patient safety.

A desire to improve patient safety by ensuring accurate patient identification was an important underlying goal for Community Medical Centers (CMC) when they made the decision to invest in RightPatient. Staff at CMC knew that RightPatient was an important part of their overall strategy to prevent medical record mix-ups and protect patients from error.

The staff at CMC assembled a video overview of their RightPatient deployment providing insight into the enrollment process and factors that led to their implementation decision:

 

As explained in the video, RightPatient is an image-based patient identification solution – a non-invasive, hygienic (non-contact), and easy-to-use technology that instantly links a patient’s photo to their unique medical record. In the case of CMC and many other RightPatient customers, the software becomes a seamless module of the Epic EHR workflows through a low-level integration.

Backed by 15 years of experience in biometric technology, RightPatient remains the industry’s most versatile and scalable biometric patient safety system, leveraging a powerful cloud-based intelligence engine to recognize patients by simply capturing their photo.

Our thanks to the staff at CMC for creating this patient identification deployment overview video!

If you want more information or would like to see a demo of RightPatient, please contact us.

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Patient Safety a Focal Point for Latest RightPatient Deployment

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Community Medical Centers recently implemented RightPatient to improve patient safety and revenue cycle management. (Photo courtesy: The Fresno Bee)

Working to help increase patient safety in healthcare, Community Medical Centers (CMC) in Fresno, CA knew that implementing RightPatient using photo biometrics for patient identification was a step in the right direction. With a quick snap of a camera, patients can now rest assured that their medical identities are protected and clinicians will always have the most up-to-date, comprehensive medical record in their possession during treatment and care. 

The benefits of RightPatient extend beyond protecting patient medical identities however. A recent article in The Fresno Bee that covered the deployment of photo biometrics for patient identification at CMC illustrates the negative effect that chart corrections were having at the facility and how this was impacting revenue cycle management. The article states:

“Charting errors usually are caught early, before any treatment begins, but having to move information into the right chart is time consuming and expensive: Community Medical Centers spends about $190,000 a year to research and correct mismatched charts, she said. And that amount doesn’t include the approximately $300,000 a year the hospital system has estimated it loses on accounts that can’t be billed to insurance companies because the patient identification is incorrect.” (Source: http://bit.ly/2qaFJtw)

RightPatient helps establish accurate patient identification to ensure proper billing at CMC with the potential to drastically reduce chart corrections and increase CMC’s revenue collections. This is often an overlooked benefit of implementing biometrics for patient ID in healthcare.

Take a look at the video covering the deployment of RightPatient at CMC here:

Are you seeking to improve patient safety, reduce the time and money spent reconciling chart corrections, and increase revenue? RightPatient may be the answer. Contact us today for a free demo and let us help direct you on the path of accurate patient ID so you can realize the benefits of other healthcare organizations using photo biometrics.
revenue cycle management in healthcare

7 Tips to Improve Your Revenue Cycle Management in 2017

7 Tips to Improve Your Revenue Cycle Management in 2017

Follow these 7 practical tips to improve revenue cycle management at your healthcare facility. (Photo courtesy of pexels.com).

The following guest post on improving revenue cycle management in healthcare was submitted by Yeshwanth HV.

Amid ever-changing regulatory environment, Revenue Cycle Management (RCM) has become one of the most important concerns for healthcare leaders in the US. Effectively managing it ensures that there will be lesser accounts receivable, fewer complications and speedy recovery of patient payment, all of which will make a healthcare practice more efficient and responsive in terms of operational changes and growth. However, effective management of the revenue cycle has proven elusive to the providers in the current healthcare landscape. The good news is there are specific ways in which you can achieve this elusive feat. Here are seven tips that will help you to effectively manage your revenue cycle:

Set Benchmarks and Measure Them

Lord Kelvin, a famous British mathematician and engineer, once said: “If you cannot measure it, you cannot improve it.” This is very true with regards to healthcare, especially if you are thinking on the lines of improving efficiency and productivity of your RCM practices.
Hence start by identifying a set of benchmarks that are most important for the success of the organization such as average time taken to submit a claim, average reimbursement rate and so on. If necessary opt to use comparative data from your competitors to keep you on the right path. Next measure the performance of your practice using the benchmarks that you have zeroed-in on and see to it that you slowly improve your performance over time.

Get the Money You Are Owed

While evaluating the performance of metrics as suggested above, make it a point that you also keep a close watch on the collection rate. Tracking this metrics helps you to make sure that you don’t leave significant amount of accounts in collections on the table, which can impact the financial stability of your practice.

An ideal RCM practice should be able to recover around 96% percent of accounts in collection. Take appropriate measures to bring your rate up to this mark or at least ensure that your collection rate is above 85 percent so that percentage of patients with outstanding bad debt will not get out of hand.

Audit Workflow

Conducting regular audit of your typical RCM workflow – from patient scheduling to final claim submission – is a great way to streamline your operations. It helps you to discover issues and inefficiencies that may be hampering your ability to process claims in an expedient manner.
But make sure that you include your frontline staff in this process by taking feedback from them about things that are holding them back. This may help you uncover crucial flaws that you may have overlooked or taken for granted.

Track Denied Claims

Tracking every claim that is denied will help you to identify trends in mistakes with regards to billing, coding and other RCM related processes. The insights gained through these discoveries can be used to train your resources and augment your RCM practices.

Look Ahead to Regulatory Changes

Rules governing healthcare are in a constant state of motion. For instance consider the last five years. First it was the Affordable Care Act (ACA), then ICD-10 implementation and now it is a possible repeal of ACA. In such an every-changing environment, it is always beneficial to make it a regular practice to stay aware of new statutes, guidelines and codes that might come your way, and be prepared with effective counters to avoid revenue cycle disruptions arising due to these changes.

Pay Attention to Self-Pay Balances

A rise in the popularity of low-premium but high-deductible plans is likely to correspond with a rise in self-pay balances. And this can pose a serious challenge to the financial stability of a practice, just like in the case of accounts in collection.
To mitigate the hurdles posed by this trend, you have to proactive and find out a way to work with individuals so that their accounts do not have to go into collection.

Make Sure Your Current RCM Practice Meets You Needs

Never take anything for granted and make it a standard practice to periodically question the value that your RCM system offers. Also make research ongoing into pricing, service offerings and the latest software systems so that when your RCM system is lagging, you are perfectly aware of things that need to be done.

The Bottom-line

Navigating through the chores of today’s healthcare landscape is not easy. To be successful in such an environment, healthcare practices should be prepared to undertake a transformational RCM approach that focuses on improving the function as well as the flow of each moving part.

Author Bio: Yeshwanth HV is a healthcare writer at MedBillingExperts, a leading provider of healthcare business process outsourcing services such as medical billing, medical coding and revenue cycle management services to medical practitioners and healthcare organizations worldwide. Dedicated towards the healthcare industry, he has authored several blogs and articles that have received rave reviews in the industry. Prior to MedBillingExperts, Yeshwanth worked with CIO Review and has authored several bylined pieces for the quarterly editions of the magazine.

photo biometrics is used in healthcare to identify patients

How Photo Biometrics Can Improve Healthcare Outcomes for Patients

photo biometrics is used in healthcare to identify patients

The rising use of photo biometrics for patient ID in healthcare is helping to increase patient safety, reduce medical errors, and improve revenue cycle management.

The following guest post on the rising use of photo biometrics for patient ID in healthcare was submitted by Amanda Gaid.

Photo biometrics are increasingly being used for passports and other identification needs. Medical facilities and practices are also beginning to see the merit in utilizing photo biometrics for patient identification. There are many ways that photo biometrics can be beneficial for providers, insurance companies, and especially patients. Using photo biometrics can help to improve healthcare outcomes for patients in a number of ways.

Helps Prevent Medical Identity Theft

Photo biometrics help to ensure that a patient receiving medication and treatment is in fact the patient identified on a medical card. Medical identity theft is widespread, with many people posing as patients in order to receive drugs. Photo biometrics link a patient’s photograph and iris biometrics to a set of medical records. Using this system ensures that patients will not be misidentified and makes it very difficult for thieves to bypass.

Improves Data Integrity

When medical information is breached by identity thieves, health records may show that patients received treatments and medications that were actually taken advantage of by thieves. This can be dangerous for patients that really need these treatments. Blood pressure and other clinical measurements may also be skewed by thieves posing as patients. Protecting this information can help to ensure greater data integrity.

May Help Patients That Can’t Help Themselves

Patients that are brought into a medical facility unconscious or that face advanced stages of cognitive decline may not be able to provide crucial medical information in times of emergency. Photo biometrics allow medical providers to identify a patient and access a wealth of information about allergies, current medications, and conditions that may be instrumental in providing treatment. This may help to protect patients from medication reactions, infections, and other issues while allowing providers to treat patients quickly.

Can Help Prevent Errors in Medical Billing

Medical billing errors can occur due to a number of different circumstances. In some cases, medical practices and hospitals that are switching over to electronic health records (EHRs) will inadvertently replicate an entire patient’s history, showing double treatments and visits. In other cases records may be filed incorrectly. Thieves may also add to inaccuracy of medical billing information. Linking all EHRs and billing information to photo biometrics can prevent billing errors and help to ensure accuracy of patient financial information.

Increases Patient Satisfaction Levels

Patient satisfaction can have an impact on patient outcomes. Patients are more likely to follow medical advice and attend regular medical visits when the experience is pleasant and the provider is trusted. Photo biometrics can make patients feel more secure and can expedite visits and treatment. Patients may also be able to access their own information more conveniently and securely, which can increase empowerment and patient engagement.

Amanda Gaid is a recent college graduate and avid writer. While her primary focus in college was Psychology, Gaid minored in English Literature and Public Health. She draws on her knowledge of these subjects to create online content that addresses human needs in a simple way. In her spare time, she enjoys traveling as well as beach breaks and playing with her dog.

rightpatient - unlocking biometric patient identification technology to improve patient safety in healthcare

Patient Identification in Healthcare: Unlocking Technology to Improve Patient Safety

rightpatient - unlocking biometric patient identification technology to improve patient safety in healthcare

Listen to this brand new podcast from the eHealth Radio network featuring RightPatient President Michael Trader discussing the current state of patient identification in healthcare

In the effort to draw attention to the ongoing problems that patient misidentification in healthcare creates, we were excited at the opportunity to discuss technology options now available for hospitals to increase patient ID accuracy with the eHealth Radio Network. Listen to the brand new podcast and learn:

— The latest news and updates from RightPatient® President Michael Trader
— Why biometric patient ID seamless integration with an EHR system is critical 
— The impact of biometric patient identification solutions on revenue cycle management (RCM)
 Why experience in biometrics and system integration is an important attribute to evaluate when selecting a vendor
— An update on the CHIME/HeroX national patient ID challenge

Take a moment and listen in to this podcast for more information on how to solve the vexing problem of achieving 100% accurate patient ID in healthcare. Thank you to Eric Michaels and the eHealth Radio team for the opportunity!