As 2017 may likely bring major changes—if not a sweeping U-turn—in the U.S. healthcare system, we wanted to begin the year by taking a fresh look at several key areas we recommend healthcare practices consider for alleviating common administrative bottlenecks and maintaining a competitive RCM edge in a potential post-ACA landscape.
1. Adopt A Front End Patient Management System
The right patient management system can streamline the essential everyday operations of every healthcare practice—insurance verification, preauthorization and accelerated billing, leaving more time for additional billable patient care. A Patient Pay Estimate feature enables patients to understand their financial obligations before they leave the office—reducing the likelihood of payment defaults.
2. Turn to Smart Analytics
Compiling and carefully examining the right analytics often makes the difference between “working hard” and working smart. Look for solutions which can deliver customizable on-demand reports, cross-referencing diagnoses, CPT codes, exam descriptions and clinical documentation.
3. Save with Automated Workflow Processes
Eliminate in-house redundancies and reduce per-transaction costs for everyday tasks such as preauthorizations, adding up to sizable annual savings. (Find out your practice’s potential savings by “crunching the numbers” in our online Preauthorization Calculator.)
4. Plug Your ICD-10 Gaps
We’ve observed many in-house teams are still behind the curve when it comes to comprehensive ICD-10 migration. 14 months after the switchover in the U.S.—and two months after the end of the Medicare ‘grace period’, if your staff is still struggling with the conversion to ICD-10, now’s the time to make a New Year’s resolution to fix the problem. Infinx is ready to help, with our ICD-10 Rescue.
5. Revamp Your EHR Management Systems
Many practices are coming to terms with the shortcomings of their EHR platforms, from patient engagement and ease-of-use among staff, to data sharing and interoperability to security and HIPAA compliance. In many cases, detailed analytics can effectively diagnose areas for improvement and fine-tuning for optimal efficiency.
Now is traditionally the time of year when we determine to finally tackle those nagging issues which have plagued us for far too long. What New Year’s resolutions are you prepared to make to optimize your practice’s profitability? In this looming period of possible wholesale changes in America’s healthcare paradigm, getting the most from advanced RCM tools are nothing to take for granted. Find out what leading-edge solutions may be right for you—talk with us to learn more.