GeBBS Healthcare Blog

ENGLEWOOD CLIFFS, NJ, December 10, 2012

GeBBS Healthcare Solutions Helps To Sponsor the Venice Family Clinic’s
25th Annual Children’s Holiday Movie Event.

According to a recent healthcare technology research study, U.S. Revenue Cycle Management by HIMSS, focused on the revenue cycle management (RCM) marketplace, positive changes are predicted in the attitudes of CEOs, CFOs and IT directors toward the efficacy of RCM to improve a healthcare facility’s financial operation.

The study included nearly 400 participants -- CEOs, CFOs and IT directors -- representing 360 U.S. hospital organizations of various sizes with the objective of assessing how the HITECH Act’s focus on stimulating the adoption of Electronic Health Records (EHR) and Health Information Exchange (HIE) solutions combined with the delay in the ICD-10 compliance deadline was impacting the RCM marketplace.

The study found that 21 % of participants said they were planning to replace or enhance core RCM capabilities in the next 24 months, and for hospitals with more than 400 beds, that number increased to 36 %. 53 % of the respondents said they plan to upgrade their core RCM due to healthcare financial regulatory changes, with that number increasing to 68 % for the hospitals with more than 400 beds.

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.

When it comes to revenue cycle management (RCM), you need an outsourced medical billing partner that understands all aspect and nuances of the billing process.

Recently, a large radiology billing services company, located in the Northeast U.S., faced a unique billing challenge. The company had been in business for more than 20 years and serves over 600 individual radiologists located in 30 states. The company focuses on addressing the unique needs of practicing radiology physicians by providing them with proven management, business processes and advanced technology to support the physicians’ operations, effectively and efficiently. 

EOBs Are Going the Way of the Dinosaurs – Extinction!
Make Sure Your Facility Doesn’t Follow Them.

The “paper blizzard” that the healthcare industry has been caught in for many years is finally starting to subside. The inefficiencies of dealing with too much paper in the healthcare payment process are well documented.

The old adage: an ounce of prevention is worth a pound of cure holds true for the potential increased denials that the new ICD-10 code set will bring when it is finally implemented in October 2014.

The conversion to ICD-10 is a HIPAA code set requirement. Providers, including physicians, are HIPAA “covered entities”, which means that you must comply with the HIPAA requirements.

Today’s healthcare professionals, who are responsible for revenue cycle management, must feel like fire fighters who while fighting the main blaze must deal with smaller fires that keep breaking out all around them. The challenge these healthcare professionals face is how to ensure all present billing gets accomplished and collected, while working on legacy A/R accounts that have fallen seriously behind. These legacy accounts often contain large amounts of revenue that need to be collected.

In the face of today’s uncertain healthcare financial environment brought on by the effects of the American Recovery Reinvestment Act (ARRA Public Law 111-5) and Health Information Technology for Economic and Clinical Health Act (HITECH) and the House and Senate’s versions of the Affordable Healthcare Act for America, how can your healthcare organization deal with the shortage of certified medical coders needed for billing and audit functions?