GeBBS Healthcare Blog

Sobering Statistics about Growing Patient Self-Pay Amounts

Posted on Mon, Dec 14, 2015 @ 10:00 AM

With the growing number of high deductible insurance plans and the Affordable Care Act (ACA), patients are now responsible for up to 35 percent of their healthcare delivery costs. Here are some staggering facts from MGMA and McKinsey & Company:

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Tags: Business Process Outsourcing (BPO), Accounts Receivable (A/R), Knowledge Process Outsourcing (KPO), Best Practices, Offshore Medical Billing, Self-Pay Collections

The New World of High Insurance Deductibles Requires New Solutions

Posted on Mon, Dec 07, 2015 @ 11:00 AM

The amounts for insurance deductibles continue to grow each year and there is no end in sight to these increases. With more and more patients opting for high deductible, low premium commercial health insurance policies, and the growing usage from the Affordable Care Act (ACA), providers must seek ways to collect these large deductible amounts at the point of care, using an integrated approach that includes call centers and comprehensive end-to-end revenue cycle management, coupled with compassionate collection training.

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Tags: Business Process Outsourcing (BPO), Accounts Receivable (A/R), Knowledge Process Outsourcing (KPO), Best Practices, Offshore Medical Billing, Self-Pay Collections

Patient Choice Is Driving Growth in Urgent Care Centers and Free Standing Emergency Departments

Posted on Wed, Dec 02, 2015 @ 06:00 AM

By Nitin Thakor, GeBBS President & CEO

The way patients want to receive their medical treatment is creating significant growth in two types of healthcare delivery facilities: Urgent Care Centers and Free Standing Emergency Departments.

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Tags: Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO), Best Practices

All is Not Well in the Small Hospital World When It Comes to the ICD-10 Transition

Posted on Fri, Nov 06, 2015 @ 07:00 AM

By Nitin Thakor, GeBBS President & CEO

So far small hospitals and small health systems are not faring as well as large hospitals and health systems during the ICD-10 transition. The press is full of reports about how well the transition is going for large hospitals, but that is not the case for smaller community hospitals.

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Tags: Business Process Outsourcing (BPO), Revenue Cycle Management (RCM), Healthcare Revenue Billing, Medical Coding, Knowledge Process Outsourcing (KPO), Offshore Medical Billing, Offshore Medical Coding

Survey Shows About 80 Percent of Hospital CFO's Consider Outsourcing RCM to be the Best Stop-Gap Measure

Posted on Mon, Oct 19, 2015 @ 08:00 AM

By Nitin Thakor, GeBBS President & CEO

According to a recent survey reported in Healthcare Finance, 83 percent of hospitals now outsource some accounts receivable and collections, 58 percent of hospitals outsource some contract management, 55 percent of hospitals outsource some denials management and 68 percent of physician groups with more than 10 practitioners now outsource some combination of collections and claims management.

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Tags: Business Process Outsourcing (BPO), Revenue Cycle Management (RCM), Healthcare Revenue Billing, Medical Coding, Knowledge Process Outsourcing (KPO), Offshore Medical Billing, Offshore Medical Coding, Outsource Coding, Offshore Revenue Cycle Management, Healthcare BPO Companies, Medical Coding Outsourcing, Remote Medical Coding

The Benefits of Outsourcing Chronic Care Management

Posted on Tue, Oct 13, 2015 @ 12:00 PM

 

There are many benefits of outsourcing the chronic care management (CCM) activities for physicians who want to take advantage of the new Centers for Medicare & Medicaid Services (CMS) initiative that pays doctors for delivering non-face-to-face care to their Medicare patients who have two or more chronic conditions.

Primary, of course, is the ability to create a new, significant revenue stream for the practice. This is entirely possible, even for smaller practices, when the chronic care management coordination is outsourced to a healthcare organization that specializes in this type of activity.

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Tags: Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO)

Trends in Healthcare Billing: Healthcare Revenue Cycle Management and Global Offshore Medical Billing

Posted on Wed, May 29, 2013 @ 01:02 PM

Today’s healthcare delivery system is at the center of many political and social debates. The ongoing focus of these debates is often how the healthcare financial process is handled, and it is one of the many problems frustrating professionals in the billing department of hospitals and medical facilities.

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Tags: Business Process Outsourcing (BPO), Revenue Cycle Management (RCM), Healthcare Revenue Billing, Medical Coding, Knowledge Process Outsourcing (KPO)

The Rise of Knowledge Business Process Outsourcing (KBPO)

Posted on Fri, May 10, 2013 @ 09:39 AM

The state of our economy is on everyone’s mind today. Our business leaders understand that job creation and company growth is an increasingly global proposition, especially with the growth of outsourcing over the past two decades. Outsourcing began small, focused on finding cheaper manpower for labor-intensive jobs such as telemarketing and data entry at the beginning of the millennium. However, the paradigm is changing. Leading business organizations, including those in the healthcare industry, are outsourcing even their “core competencies” to gain a competitive edge with Knowledge Business Process Outsourcing.

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Tags: Business Process Outsourcing (BPO), Revenue Cycle Management (RCM), Knowledge Process Outsourcing (KPO)

The Impact of Accountable Care on Your Revenue Cycle

Posted on Thu, Apr 11, 2013 @ 04:27 PM

Becoming an accountable care organization (ACO) requires that your facility adopt a completely new point of view when it comes to revenue cycle management. The goal of an ACO is to reduce costs by improving the quality of care provided to patients. Providers are encouraged to and boost preventative efforts that may ultimately reduce the future need for high-cost medical services such as hospital stays. As a reward for the collaborative efforts of the ACO, participating insurers such as Medicare will generally offer financial rewards for lowering costs and meeting quality care goals for their patients. On the down side, this also means that ACO providers are accountable to Medicare and may risk losing money if their costs run higher than expected. Costs will no longer just affect overall profitability; for example, they will be evaluated in conjunction with efficiency to determine reimbursement parameters. Healthcare organizations need to be able to collect the correct financial and quality data, compile accurate reports and run predictive analytics in order to meet ACO objectives of better care at lower costs.

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Tags: Business Process Outsourcing (BPO), Revenue Cycle Management (RCM), Evaluation and Management (E&M) Requirements, GeBBS Healthcare Solutions, Healthcare Revenue Billing, Medical Coding, Knowledge Process Outsourcing (KPO), Accountable Care Organizations (ACOs), Affordable Care Act

Advantages of the Knowledge Process Outsourcing for Healthcare

Posted on Tue, Dec 04, 2012 @ 05:32 PM

This election season, the economy was on everyone’s mind. Americans were evaluating the candidates on the likelihood that they will be able to improve the economy and get more jobs. However, this simplistic view of the economy does not penetrate the business world.

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Tags: Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO)