Managing a revenue cycle has never been the most glamorous component of running a healthcare organization. Preregistering patients, collecting co-payments, submitting claims, and ultimately obtaining reimbursement for services is a costly and cumbersome process. It's also an essential one, since this is how healthcare providers are paid for the work they do.
Physician leaders are pivotal in the transition to value-based care.
By developing an integrated revenue cycle, a health system can reduce costs and improve financial performance in a way that equally meets the needs of its hospital and physician constituents.
Good design does not, on its own, ensure a patient-centered practice transformation. Before calling the architect and/or designer, organizations must first lay the groundwork for successful design by thoroughly evaluating their practice operations and culture.
Diverging trends in benchmarking data presents significant implications for organizations tying compensation to market benchmarks, leading many administrators to question whether benchmarks are the right tool for measuring cardiology service line performance or calculating compensation.
To improve patient access, health systems and provider organizations must think beyond traditional care models and adopt innovative strategies in redesigning how, when, and where care is delivered.
Both employer- and individual-sponsored health insurance plans are mitigating the rising healthcare costs by passing them on to consumers, which is making patients more financially responsible for their healthcare utilization than ever before.
Aligning with health systems and hospitals through employment or affiliation arrangements may be a lifeline for some practices, but it in no way ensures practice growth or optimal performance. The good news is you don't have to stand idly by and hope your practice doesn't sink.
The use of PAs and NPs is not new or novel, yet ACPs continue to be untapped resources for improving the delivery of cardiac care.
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