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Revenue Cycle: Claims Denials & Payer Audits
“CentraCare Health has denials sitting out there for 300 days, creating administrative and financial burden, says rev cycle director.”
A recent article in Healthcare Finance News details how heavy reliance on AI algorithms to tackle claims processing can lead to privacy issues, inaccurate results, and complexities that divert focus from the patient.
HURC believes in empowering doctors and nurses to focus on elevating patient care. Our UR Services and Revenue Cycle Optimization Solutions have brought about denial coordination with rapid rule change adoption and specialized payer/provider communication & reconciliation to give providers the advantage.
HURC works with healthcare professionals to harness hospital systems' existing infrastructure, saving millions and bringing back the focus of care to what really matters: the patient.
Visit HURC.com for more information - and learn more about our approach as it pertains directly to Revenue Cycle here.
Hospitals' operating margins fell in July as fewer patients sought care
A recent article by FierceHealthcare states that hospitals nationwide took a hit this past July as "reduced patient volumes, a bump in bad debt and charity care whittled operating margins," resulting in a -1.6% median single-month operating margin index and a 9% revenue decline from June to July.
Building off of Kaufman Hall's reporting, reduced utilization saved 4% in total daily expenses, but expenses are projected to shift because of inflation. Additionally, the upcoming Medicaid disenrollment process also adds a layer of uncertainty to the mix.
"Hospitals that prioritize care transitions are performing better than institutions who do not,” Erik Swanson--senior VP of data and analytics for Kaufman Hall--noted. “Identifying steps that can ensure a smooth transition, such as obtaining prompt pre-authorizations and planning discharge early, will help organizations reduce expenses and improve patients’ experience.”
Learn more here.