Happy Friday and happy first day of May! RCM Answers continues to bring us great coverage from HIMSS15, this time sharing an interview with our CEO, Tom Butts. Tom discusses health IT trends, the shift to fee-for-value reimbursement models, and provider challenges in the areas of patient financial responsibility and ICD-10. Specifically, Tom notes that uncompensated care costs providers $50 billion a year, and that streamlining revenue cycle management processes is the key to saving that money.
Healthcare Finance News supports Tom’s thoughts with its recent article on predictive analytics. In the piece, several hospital CFOs weigh in on how predictive claims management technology can not only assist in revenue cycle management efficiency but also in preventing claim denials before they happen. From this, providers can have the confidence in their claims management technology to allow them to focus on transitioning to fee-for-value reimbursement and boosting their collections process.
And in “Revving up for ICD-10 amid wheel-spinning,” our Senior Business Analyst and Manager of Regulatory Strategy, Crystal Ewing, shares her thoughts on how providers can develop an ICD-10 implementation strategy in time for the October 1 deadline, including the importance of participating in end-to-end testing beforehand with a clear idea of what they want to test.