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  • Patient Friendly Billing e-Bulletin: March 2013
    and reducing costs are a priority for your organization the metrics outlined in this presentation will provide the framework you need to understand what s working and what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY 10 Ways to Reduce Patient Statement Volume and Reduce Costs No two patients are the same Each has a very personal healthcare experience and each has distinct financial needs and preferences that have an impact on how when and if they chose to pay their healthcare bill It s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients The need to tailor financial conversations and payment options to individual needs and preferences is critical This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach but take control of rising collection costs HFMA Business Profiles Conifer Health Solutions Helping Providers and Employers Build a Foundation for Better Health Jim Bohnsack vice president solution corporate development for Conifer Health Solutions explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements HFMA RESOURCE LIBRARY Reduce Patient Balances Sent to Collection Agencies Approaching New Problems with New Approaches This white paper written by Apex Vice President of Solutions and Services Carrie Romandine discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs but it will maximize the amount collected before sending to collections Further targeted messaging should be applied across all points of patient interaction i e point of service customer service patient statements and analyzed regularly for maximized results HFMA Business Profiles Ontario Systems Optimizing Accounts Receivable in a Rapidly Changing Environment Steve Scibetta senior director of channel sales for Ontario Systems healthcare product line shares insights into effectively managing receivables HFMA RESOURCE LIBRARY The Future of Online Patient Billing Portals This white paper written by Apex President Patrick Maurer discusses methods to increase patient adoption of online payments Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections This white paper shows why patient centric approaches to online payment portals are important complements to traditional provider centric approaches HFMA Business Profiles Optum Enabling Transformative Change Elena White vice president of risk quality and network solutions for Optum discusses how healthcare providers can leverage data and technology as they enable risk in their organization HFMA RESOURCE LIBRARY Payment Portals Can Improve Self Pay Collections and Support Meaningful Use Increased electronic

    Original URL path: http://www.hfma.org/Content.aspx?id=16225 (2016-02-10)
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  • Patient Friendly Billing E-Bulletin: January 2013
    Patient financial engagement is more challenging than ever and more critical With patient responsibility as a percentage of revenue on the rise providers have seen their billing related costs and accounts receivable levels increase If increasing collection yield and reducing costs are a priority for your organization the metrics outlined in this presentation will provide the framework you need to understand what s working and what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY 10 Ways to Reduce Patient Statement Volume and Reduce Costs No two patients are the same Each has a very personal healthcare experience and each has distinct financial needs and preferences that have an impact on how when and if they chose to pay their healthcare bill It s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients The need to tailor financial conversations and payment options to individual needs and preferences is critical This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach but take control of rising collection costs HFMA Business Profiles Conifer Health Solutions Helping Providers and Employers Build a Foundation for Better Health Jim Bohnsack vice president solution corporate development for Conifer Health Solutions explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements HFMA RESOURCE LIBRARY Reduce Patient Balances Sent to Collection Agencies Approaching New Problems with New Approaches This white paper written by Apex Vice President of Solutions and Services Carrie Romandine discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs but it will maximize the amount collected before sending to collections Further targeted messaging should be applied across all points of patient interaction i e point of service customer service patient statements and analyzed regularly for maximized results HFMA Business Profiles Ontario Systems Optimizing Accounts Receivable in a Rapidly Changing Environment Steve Scibetta senior director of channel sales for Ontario Systems healthcare product line shares insights into effectively managing receivables HFMA RESOURCE LIBRARY The Future of Online Patient Billing Portals This white paper written by Apex President Patrick Maurer discusses methods to increase patient adoption of online payments Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections This white paper shows why patient centric approaches to online payment portals are important complements to traditional provider centric approaches HFMA Business Profiles Optum Enabling Transformative Change Elena White vice president of risk

    Original URL path: http://www.hfma.org/Content.aspx?id=15267 (2016-02-10)
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  • Archives
    the metrics outlined in this presentation will provide the framework you need to understand what s working and what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY 10 Ways to Reduce Patient Statement Volume and Reduce Costs No two patients are the same Each has a very personal healthcare experience and each has distinct financial needs and preferences that have an impact on how when and if they chose to pay their healthcare bill It s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients The need to tailor financial conversations and payment options to individual needs and preferences is critical This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach but take control of rising collection costs HFMA Business Profiles Conifer Health Solutions Helping Providers and Employers Build a Foundation for Better Health Jim Bohnsack vice president solution corporate development for Conifer Health Solutions explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements HFMA RESOURCE LIBRARY Reduce Patient Balances Sent to Collection Agencies Approaching New Problems with New Approaches This white paper written by Apex Vice President of Solutions and Services Carrie Romandine discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs but it will maximize the amount collected before sending to collections Further targeted messaging should be applied across all points of patient interaction i e point of service customer service patient statements and analyzed regularly for maximized results HFMA Business Profiles Ontario Systems Optimizing Accounts Receivable in a Rapidly Changing Environment Steve Scibetta senior director of channel sales for Ontario Systems healthcare product line shares insights into effectively managing receivables HFMA RESOURCE LIBRARY The Future of Online Patient Billing Portals This white paper written by Apex President Patrick Maurer discusses methods to increase patient adoption of online payments Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections This white paper shows why patient centric approaches to online payment portals are important complements to traditional provider centric approaches HFMA Business Profiles Optum Enabling Transformative Change Elena White vice president of risk quality and network solutions for Optum discusses how healthcare providers can leverage data and technology as they enable risk in their organization HFMA RESOURCE LIBRARY Payment Portals Can Improve Self Pay Collections and Support Meaningful Use Increased electronic engagement between healthcare providers and patients provides significant opportunities

    Original URL path: http://www.hfma.org/Content.aspx?id=3708 (2016-02-10)
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  • Info for Authors
    mean Do not f ret over grammar and style issues The newsletter editor can fix any grammar mistakes But please do go back over your article before you turn it in to make sure all your sentences make sense BACK TO PAGINATION If you would like to share your expertise in Healthcare Cost Containment we would be happy to talk with you Healthcare Cost Containment is always on the look out for feature articles case studies charts graphs and tools related to strategic cost containment in healthcare organizations Queries Authors should send a one or two paragraph summary of their proposed article idea to Betty Hintch senior editor Previously unpublished article manuscripts can also be sent to our attention Healthcare Cost Containment Writing Tips Below are some points to keep in mind as you write the article that you are contributing to HFMA s Healthcare Cost Containment newsletter If you have any questions about these suggestions please contact Betty Hintch Keep the audience in mind CFOs COOs and healthcare finance professionals at hospitals and health systems are the main audience Other readers include hospital IT managers clinical managers supply chain leaders and materials management professionals A hospital CFO who subscribes to the newsletter may pass your article along to clinicians supply chain leaders or IT managers when relevant Think magazine style Write like Health Leaders or Modern Healthcare rather than the Harvard Business Review We want the newsletter to have a magazine feel both in the design and writing style A conversational newsy tone is best You want to sound authoritative but not too academic Another tip Try to keep your sentences and paragraphs fairly short like you d see in a feature magazine article Refrain from promoting your company or your company s products or solutions HFMA cannot directly promote any one company or product So please do not mention the name of any company consultant or organization within the title or body of the article Also please do not include the name of any product that your company sells or promotes When a product or company needs to be referred to describe it in general terms so that the reader gets a sense of what you mean For instance you might say a consulting company that specializes in supply chain management or an inventory management software Please do include your name company organization and email address at the end of your article in a short biography For instance Charles Smith is senior executive director of XYZ Consulting in Omaha Nebraska You can contact Mr Smith at csmith yahoo com Write an article that can be quickly scanned by busy executives Hospital executives and managers are busy people and have little time to read As you write your article imagine a hospital CFO reading your article while she s riding the elevator or waiting for a meeting to start You have two minutes to get your points across to her Here are some ways to do this Suggest an article title that would grab a hospital CFO s interest and give her a quick understanding of what the article is about Get to the point quickly preferably within the first paragraph What is the main point or points of your article What are you going to prove describe explain or demonstrate in your article Take it as a given that your reader knows all about the financial woes facing health care Most also know why hospitals need to pay attention to reducing costs So you can skip right over these points and get to the specifics of your article Try to include at least two subheads The subheads should quickly sum up what will follow in the next section Make use of bulleted lists or check lists whenever possible Skim your own article before submitting it Or ask someone else to skim it Read only the headline subheads and first sentence of each paragraph Do you come away with a good sense of what the article is saying Show rather than tell In other words give examples that help get your points across especially complicated points Real life examples are best But even hypothetical for instances can help readers understand complex points Examples are especially important in any type of how to article or description Please avoid buzzwords as much as possible If you must use a buzzword please explain exactly what you mean when you use it Include relevant data when possible Whenever possible please provide data that shows actual dollars saved percentage of A R improved percentage of improvement in clinical indicators etc Remember your main audience is hospital financial officers So they are interested in whether a particular solution provides real results Provide charts or graphs if applicable A picture speaks a thousand words as they say If you don t have a chart or graph readily available could one be produced We are aiming to provide at least one chart per article whenever possible Avoid consultantese Try not to use language or terminology that is only known in your own organization or by your clients If you must use such terms please explain them so that the reader understands what you mean Do not f ret over grammar and style issues The newsletter editor can fix any grammar mistakes But please do go back over your article before you turn it in to make sure all your sentences make sense Please login to add your comments Advertisements HFMA Business Profiles McKesson Leveraging Predictive Analytics to Rein in Operating Costs A leader from McKesson discusses how healthcare reform is forcing hospitals and health systems to take a different approach to capacity management and patient flow HFMA RESOURCE LIBRARY 6 Patient Revenue Cycle Metrics You Should Be Tracking and How to Improve Your Results Patient financial engagement is more challenging than ever and more critical With patient responsibility as a percentage of revenue on the rise providers have seen their billing related costs and accounts receivable levels

    Original URL path: http://www.hfma.org/Content.aspx?id=3941 (2016-02-10)
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  • How Gundersen Health System Has Saved $8.5M Using Energy Efficiency Measures
    Rich executive director of Envision Gundersen s energy subsidiary credits the organization s success on productive partnerships that make the most of opportunities in its market On getting started with energy conservation In 2008 Gundersen leaders conducted an energy audit to uncover opportunities to save money by being more energy efficient They also were building a new hospital and wondered if they could make it energy independent This fit into our mission of providing care in a mindful way and not polluting to do that Rich says We also wondered if we could get a return on our investment and we convinced ourselves that we could In 2008 leaders set a goal to reach energy independence by 2014 which they achieved in October of that year On partnerships required for energy independence Gundersen has formed joint ventures with several organizations for their sustainability projects As a 501 c 3 organization Gundersen is not able to reap the tax benefits from wind energy projects and similar initiatives However by partnering with for profit entities like the food company Organic Valley Gundersen s leaders ensure these tax credits are not left on the table Rich says The health system also partnered with the La Crosse County landfill to pipe landfill gas a natural by product of decomposition to Gundersen s Onalaska Wis campus which has 350 000 square feet of building space The gas is used to generate electricity and all of the heat at the facility Gundersen pays the landfill 250 000 annually to harness the gas which previously escaped into the environment This reduces the burden on taxpayers in the county as well as patients who benefit from reduced costs he says On looking for opportunities in the area Gundersen s tri state service area Wisconsin Iowa and Minnesota has abundant agricultural waste and other biomass material To take advantage of this potential fuel source Gundersen now has a biomass boiler at its La Crosse medical center campus The boiler burns enough organic material to generate 80 percent of the site s heat The boiler is powered by wood chips from six local mills which costs the health system 800 000 per year Previously the health system spent 1 2 million on natural gas each year to heat the campus We don t mine fossil fuels in Wisconsin so projects like this help dollars stay in the community and provide cleaner sources of energy Rich says The biomass boiler also uses a back pressure steam turbine to produce electricity We try to extract as much as we can from every project to get the maximum benefit from an energy perspective and a financial perspective Rich says On knowing where to start If they have money some organizations may start with what is flashy or what will give them marketing credit such as a rain garden or solar panels Rich says If they don t have money they might start with something easy like a recycling program that doesn t require executive commitment Rich recommends that hospitals start by making their buildings more energy efficient Within five years most healthcare organizations can see a 20 30 percent improvement in their energy costs he says If you don t have success that generates quick financial returns and broad support it is hard to build momentum Rich says On who owns these efforts Most healthcare leaders assume that their operations teams should lead energy efficiency initiatives yet Rich believes performance improvement teams might be a better fit A Six Sigma group or even a finance expert could be the leader it doesn t need to be someone with technical expertise in energy management Rich says What these leaders need to be able to do is manage the project and measure performance On the role of finance Finance can play a major role in quantifying the value of these efforts Rich says We often look at energy in terms of fixed costs that we just have to accept But we have found consistently that energy efficiency produces good financial returns on capital investments Finding the right threshold for your organization with the capital budget is key and the finance team can help with that On food waste Gundersen has been able to eliminate 80 percent of food waste from its cafeterias using a software program that measures all of the food waste generated at its facilities We found we were wasting food just based on our recipe sizes at different times of the day Rich says By scaling down their recipes when the cafeterias were less crowded they were able to reduce costs and prevent 20 tons of wasted food from entering landfills each year On advising other healthcare organizations Rich recommends conducting an energy audit and learning your organization s energy utilization index which indicates how much energy is used per square foot Most healthcare facilities do not know how they are performing and when they find out they are often surprised because their newest buildings may be their worst performers Rich says An audit can help organizations understand where their opportunities are more specifically and form projects to take advantage of those opportunities Rich also recommends that leaders invest in the process of commissioning new construction which involves ensuring their buildings are running as efficiently as possible Although commissioning a building typically increases the project cost by 1 percent it pays off in the long run Rich says This holds the builders engineers and architects accountable to make sure the building works properly from the start he says On making these efforts last To be successful over the long term sustainability efforts have to be done as part of an energy management program in which you are continuously measuring and reviewing your performance Rich says Efforts like switching off lights and turning off computers often don t hold up over time because we humans are not dependable when it comes to changing our habits You need automation to do those things as part of a broader programmatic approach Laura Ramos Hegwer is a freelance writer and editor based in Lake Bluff Ill and a member of HFMA s First Illinois Chapter Interviewed for this article Jeff Rich is executive director of Envision Gundersen Health System s energy subsidiary La Crosse Wis Publication Date Tuesday December 08 2015 BACK TO PAGINATION Local partnerships have helped the healthcare organization improve its energy efficiency Gundersen Health System an integrated healthcare organization based in La Crosse Wis recently became the country s first energy independent health system meaning it produces more energy locally than it consumes from fossil fuel sources Gundersen s efforts to improve energy efficiency have had a significant impact on the bottom line This is a sample article from HFMA s Healthcare Cost Containment newsletter Learn more and subscribe Since 2008 Gundersen has saved 8 5 million on energy conservation alone In 2014 the health system realized a 2 7 million benefit on its energy spend These figures do not reflect the health system s revenue from renewable energy estimated at 3 million in 2015 Gundersen Health System s Energy Spend with and without Efficiency Gains Jeff Rich executive director of Envision Gundersen s energy subsidiary credits the organization s success on productive partnerships that make the most of opportunities in its market On getting started with energy conservation In 2008 Gundersen leaders conducted an energy audit to uncover opportunities to save money by being more energy efficient They also were building a new hospital and wondered if they could make it energy independent This fit into our mission of providing care in a mindful way and not polluting to do that Rich says We also wondered if we could get a return on our investment and we convinced ourselves that we could In 2008 leaders set a goal to reach energy independence by 2014 which they achieved in October of that year On partnerships required for energy independence Gundersen has formed joint ventures with several organizations for their sustainability projects As a 501 c 3 organization Gundersen is not able to reap the tax benefits from wind energy projects and similar initiatives However by partnering with for profit entities like the food company Organic Valley Gundersen s leaders ensure these tax credits are not left on the table Rich says The health system also partnered with the La Crosse County landfill to pipe landfill gas a natural by product of decomposition to Gundersen s Onalaska Wis campus which has 350 000 square feet of building space The gas is used to generate electricity and all of the heat at the facility Gundersen pays the landfill 250 000 annually to harness the gas which previously escaped into the environment This reduces the burden on taxpayers in the county as well as patients who benefit from reduced costs he says On looking for opportunities in the area Gundersen s tri state service area Wisconsin Iowa and Minnesota has abundant agricultural waste and other biomass material To take advantage of this potential fuel source Gundersen now has a biomass boiler at its La Crosse medical center campus The boiler burns enough organic material to generate 80 percent of the site s heat The boiler is powered by wood chips from six local mills which costs the health system 800 000 per year Previously the health system spent 1 2 million on natural gas each year to heat the campus We don t mine fossil fuels in Wisconsin so projects like this help dollars stay in the community and provide cleaner sources of energy Rich says The biomass boiler also uses a back pressure steam turbine to produce electricity We try to extract as much as we can from every project to get the maximum benefit from an energy perspective and a financial perspective Rich says On knowing where to start If they have money some organizations may start with what is flashy or what will give them marketing credit such as a rain garden or solar panels Rich says If they don t have money they might start with something easy like a recycling program that doesn t require executive commitment Rich recommends that hospitals start by making their buildings more energy efficient Within five years most healthcare organizations can see a 20 30 percent improvement in their energy costs he says If you don t have success that generates quick financial returns and broad support it is hard to build momentum Rich says On who owns these efforts Most healthcare leaders assume that their operations teams should lead energy efficiency initiatives yet Rich believes performance improvement teams might be a better fit A Six Sigma group or even a finance expert could be the leader it doesn t need to be someone with technical expertise in energy management Rich says What these leaders need to be able to do is manage the project and measure performance On the role of finance Finance can play a major role in quantifying the value of these efforts Rich says We often look at energy in terms of fixed costs that we just have to accept But we have found consistently that energy efficiency produces good financial returns on capital investments Finding the right threshold for your organization with the capital budget is key and the finance team can help with that On food waste Gundersen has been able to eliminate 80 percent of food waste from its cafeterias using a software program that measures all of the food waste generated at its facilities We found we were wasting food just based on our recipe sizes at different times of the day Rich says By scaling down their recipes when the cafeterias were less crowded they were able to reduce costs and prevent 20 tons of wasted food from entering landfills each year On advising other healthcare organizations Rich recommends conducting an energy audit and learning your organization s energy utilization index which indicates how much energy is used per square foot Most healthcare facilities do not know how they are performing and when they find out they are often surprised because their newest buildings may be their worst performers Rich says An audit can help organizations understand where their opportunities are more specifically and form projects to take advantage of those opportunities Rich also recommends that leaders invest in the process of commissioning new construction which involves ensuring their buildings are running as efficiently as possible Although commissioning a building typically increases the project cost by 1 percent it pays off in the long run Rich says This holds the builders engineers and architects accountable to make sure the building works properly from the start he says On making these efforts last To be successful over the long term sustainability efforts have to be done as part of an energy management program in which you are continuously measuring and reviewing your performance Rich says Efforts like switching off lights and turning off computers often don t hold up over time because we humans are not dependable when it comes to changing our habits You need automation to do those things as part of a broader programmatic approach Laura Ramos Hegwer is a freelance writer and editor based in Lake Bluff Ill and a member of HFMA s First Illinois Chapter Interviewed for this article Jeff Rich is executive director of Envision Gundersen Health System s energy subsidiary La Crosse Wis Publication Date Tuesday December 08 2015 Please login to add your comments Advertisements HFMA Business Profiles McKesson Leveraging Predictive Analytics to Rein in Operating Costs A leader from McKesson discusses how healthcare reform is forcing hospitals and health systems to take a different approach to capacity management and patient flow HFMA RESOURCE LIBRARY 6 Patient Revenue Cycle Metrics You Should Be Tracking and How to Improve Your Results Patient financial engagement is more challenging than ever and more critical With patient responsibility as a percentage of revenue on the rise providers have seen their billing related costs and accounts receivable levels increase If increasing collection yield and reducing costs are a priority for your organization the metrics outlined in this presentation will provide the framework you need to understand what s working and what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY 10 Ways to Reduce Patient Statement Volume and Reduce Costs No two patients are the same Each has a very personal healthcare experience and each has distinct financial needs and preferences that have an impact on how when and if they chose to pay their healthcare bill It s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients The need to tailor financial conversations and payment options to individual needs and preferences is critical This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach but take control of rising collection costs HFMA Business Profiles Conifer Health Solutions Helping Providers and Employers Build a Foundation for Better Health Jim Bohnsack vice president solution corporate development for Conifer Health Solutions explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements HFMA RESOURCE LIBRARY Reduce Patient Balances Sent to Collection Agencies Approaching New Problems with New Approaches This white paper written by Apex Vice President of Solutions and Services Carrie Romandine discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs but it will maximize the amount collected before sending to collections Further targeted messaging should be applied across all points of patient interaction i e point of service customer service patient statements and analyzed regularly for maximized results HFMA Business Profiles Ontario Systems Optimizing Accounts Receivable in a Rapidly Changing Environment Steve Scibetta senior director of channel sales for Ontario Systems healthcare product line shares insights into effectively managing receivables HFMA RESOURCE LIBRARY The Future of Online Patient Billing Portals This white paper written by Apex President Patrick Maurer discusses methods to increase patient adoption of online payments Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections This white paper shows why patient centric approaches to online payment portals are important complements to traditional provider centric approaches HFMA Business Profiles Optum Enabling Transformative Change Elena White vice president of risk quality and network solutions for Optum discusses how healthcare providers can leverage data and technology as they enable risk in their organization HFMA RESOURCE LIBRARY Payment Portals Can Improve Self Pay Collections and Support Meaningful Use Increased electronic engagement between healthcare providers and patients provides significant opportunities for improving revenue cycle metrics and encouraging patients to access EHRs This article written by Apex Founder and CEO Brian Kueppers explores a number of strategies to create synergy between patient billing online payment portals and electronic health record EHR software to realize a high ROI in speed to payment patient satisfaction and portal adoption for meaningful use HFMA Business Profiles Somnia Bending the Healthcare Cost Curve Toward Improved Anesthesia Value Somnia President and CEO Marc Koch MD MBA explains how hospitals can drive transformative change in the perioperative experience for outstanding clinical and financial outcomes HFMA RESOURCE LIBRARY Large Health System Drives 10 UP Patient Payments and 10 DOWN Billing related Costs Faced with a rising tide of bad debt a large Southeastern healthcare system was seeing a sharp decline in net patient revenues The need to improve collections was dire

    Original URL path: http://www.hfma.org/Content.aspx?id=44462 (2016-02-10)
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  • Why Hospitals Should Tackle the Total Cost Challenge
    an investment in the organization s future success and in the community s health and economic well being it is the right thing to do James W Blake is managing director Kaufman Hall Associates LLC Skokie Ill and is a member of HFMA s First Illinois Chapter Publication Date Tuesday December 08 2015 BACK TO PAGINATION The changing healthcare business model and the goal of improving health in individual communities are among the factors motivating healthcare providers to adopt a broader view of cost From our sponsor Kaufman Hall Associates LLC For hospitals and health systems cost management has traditionally focused largely on a small subset of the factors driving total healthcare spending controlling labor overhead supply and capital costs within the organization Although this approach made economic sense under fee for service payment the industry s transition to a value based business model requires organizations to embrace much broader efforts to reduce the total cost of care in their regions addressing cost drivers such as duplicative services unnecessary utilization and clinical variation Why Provider Organizations Have Not Tackled Total Cost Hospitals are understandably wary about undertaking activities that threaten the current revenue model Even as value based payment gains traction the speed of adoption and future manifestations in each market remain unclear raising questions for providers about which value oriented strategies to develop and when to roll them out In addition while traditional cost management has proven difficult addressing total cost requires an even more daunting level of change Finally implementing these broad total cost reduction strategies requires outside support Employers and public agencies should play a role to help create the incentives structures and processes to monitor consumers health status identify at risk segments manage and coordinate care and intervene to prevent the need for more acute and expensive care Payers that are willing to be true partners in total cost reduction can also play a key role Components of Total Cost Why Providers Should Tackle Total Cost Despite the daunting nature of the total cost challenge the reasons to take action are more compelling than the countervailing forces Alignment with mission This approach to total cost reduction is grounded in improving quality improving health meeting public needs and providing a positive healthcare experience In short it is closely aligned with the mission of not for profit healthcare providers to improve the health of their communities Health care s business model change Total cost reduction and the value based business model are two sides of the same coin Under fee for service payment the sphere of influence for hospitals and health systems is limited to the areas under their direct purview they are rewarded for increasing patient volumes and for reducing patient care costs Under the value based model the health system s sphere of influence broadens considerably to include the entire continuum of care as well as activities designed to keep people healthy Value based payment rewards providers for helping a defined population to avoid the need for care or to receive care in the least expensive most appropriate setting Successful precedents Organizations have demonstrated success in broadening their approach to encompass total cost reduction For example a coalition of providers in Camden N J delivers intensive care management to primary care patients identified as high utilizers of hospital emergency and inpatient services After six months patients in this program had a 46 percent reduction in average hospital admissions Geisz M A Coalition Creates a Citywide Care Management System Robert Wood Johnson Foundation June 13 2014 Geisinger Health System s patient centered medical home initiative which focuses on prevention chronic disease management and comprehensive care management showed cumulative cost savings of 7 1 percent in its first four years Maeng D D Graham J Graf T R et al Reducing Long Term Cost by Transforming Primary Care Evidence from Geisinger s Medical Home Model American Journal of Managed Care Vol 18 No 3 March 2012 pp 149 155 Increasing scrutiny As the Centers for Medicare Medicaid Services and others continue to release information about healthcare spending and as regional and local variations are revealed scrutiny will increase Hospitals and health systems will need data to explain their cost position and will need to articulate a strategy to positively influence community and regional healthcare spending Regional economic benefit Traditionally charity care has been a key way that not for profit healthcare organizations demonstrated their community benefit As the uninsured population decreases providers may increasingly devote more resources to broader community health improvement activities that would reduce the total cost of care for a community and in turn produce real regional economic benefits As pressures to control costs increase health systems will have little choice but to address total cost if they want to remain relevant Organizations should decide whether to wait until external forces compel them to act or to act from a position of strength while they still have time to develop a thoughtful tailored plan Although the total cost approach requires a major organizational commitment and is not without risk as an investment in the organization s future success and in the community s health and economic well being it is the right thing to do James W Blake is managing director Kaufman Hall Associates LLC Skokie Ill and is a member of HFMA s First Illinois Chapter Publication Date Tuesday December 08 2015 Please login to add your comments Advertisements HFMA Business Profiles McKesson Leveraging Predictive Analytics to Rein in Operating Costs A leader from McKesson discusses how healthcare reform is forcing hospitals and health systems to take a different approach to capacity management and patient flow HFMA RESOURCE LIBRARY 6 Patient Revenue Cycle Metrics You Should Be Tracking and How to Improve Your Results Patient financial engagement is more challenging than ever and more critical With patient responsibility as a percentage of revenue on the rise providers have seen their billing related costs and accounts receivable levels increase If increasing collection yield and reducing

    Original URL path: http://www.hfma.org/Content.aspx?id=44464 (2016-02-10)
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    what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY 10 Ways to Reduce Patient Statement Volume and Reduce Costs No two patients are the same Each has a very personal healthcare experience and each has distinct financial needs and preferences that have an impact on how when and if they chose to pay their healthcare bill It s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients The need to tailor financial conversations and payment options to individual needs and preferences is critical This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach but take control of rising collection costs HFMA Business Profiles Conifer Health Solutions Helping Providers and Employers Build a Foundation for Better Health Jim Bohnsack vice president solution corporate development for Conifer Health Solutions explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements HFMA RESOURCE LIBRARY Reduce Patient Balances Sent to Collection Agencies Approaching New Problems with New Approaches This white paper written by Apex Vice President of Solutions and Services Carrie Romandine discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs but it will maximize the amount collected before sending to collections Further targeted messaging should be applied across all points of patient interaction i e point of service customer service patient statements and analyzed regularly for maximized results HFMA Business Profiles Ontario Systems Optimizing Accounts Receivable in a Rapidly Changing Environment Steve Scibetta senior director of channel sales for Ontario Systems healthcare product line shares insights into effectively managing receivables HFMA RESOURCE LIBRARY The Future of Online Patient Billing Portals This white paper written by Apex President Patrick Maurer discusses methods to increase patient adoption of online payments Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections This white paper shows why patient centric approaches to online payment portals are important complements to traditional provider centric approaches HFMA Business Profiles Optum Enabling Transformative Change Elena White vice president of risk quality and network solutions for Optum discusses how healthcare providers can leverage data and technology as they enable risk in their organization HFMA RESOURCE LIBRARY Payment Portals Can Improve Self Pay Collections and Support Meaningful Use Increased electronic engagement between healthcare providers and patients provides significant opportunities for improving revenue cycle metrics and encouraging patients to access EHRs This article written by Apex Founder and

    Original URL path: http://www.hfma.org/Content.aspx?id=4255 (2016-02-10)
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  • Population Health Management Calls for Data, Accountability
    of New Births Bharat Rao is principal national leader healthcare and life sciences data and analytics KPMG Philadelphia Wendy Vincent is director of advisory services KPMG Pittsburgh Ryan Hayden is healthcare informaticist director healthcare advisory services KPMG Boston Roy Mathews is managing director healthcare and life sciences data and analytics KPMG Nashville Publication Date Monday November 16 2015 BACK TO PAGINATION Creating an effective healthcare model for the future requires the careful analysis of data and a structure that encourages accountability Population health management is considered the future of healthcare so when a community hospital in Massachusetts wanted to advance its operations it made sense to develop a test population health management program After all Massachusetts is a leader in managed care and payers in that state are advancing risk based financial models The hospital s program involved organizationwide efforts and accountability specifically targeting risk identification and care improvement for the elderly population providing care and services to high risk obstetric patients and increasing participation from their employees within their health plan demonstrating improvements through the use of biometrics data Initial results have been encouraging The Massachusetts hospital s experience is not unique Many healthcare experts consider population health management a key element in the Triple Aim of improving healthcare quality increasing patient satisfaction and reducing the per capita cost of care The definition of population health management varies but we believe a practical view is most helpful the application of integrated care management processes across the care delivery continuum for a defined set of patients a population supported by enabling technologies to actively monitor and manage the health status of the population The goal is to keep the defined population as healthy as possible and to reduce the need for costly treatments such as emergency department trips hospitalizations and medical procedures that may be potentially preventable New payment models such as value based reimbursement and other forms of risk sharing arrangements that encourage healthcare providers to keep their patients healthy are the driving force behind population health management The Centers for Medicare Medicaid Services CMS with the help of technology and data analytics is also leading the movement to accelerate this change and redesign the delivery of care Reforming Payment Pay for performance in healthcare has been a lingering notion for years but is now gaining momentum primarily through CMS efforts CMS realized that electronic prescriptions reduced medication errors and used incentives and penalties to encourage physicians to adopt this technology Another example was CMS s refusal in 2008 to reimburse never events medical errors that are clearly identifiable and measurable and that have a risk of occurrence that is significantly influenced by the policies and procedures of the healthcare organization which was a crucial step toward tying quality to reimbursement CMS is now reducing payments to hospitals with excessive readmissions which encourages hospitals to look at their patients beyond the boundaries of their four walls and across the continuum of care Beyond penalties and incentives CMS has set a goal to move away from fee for service payment models CMS has set a goal to have 85 percent of Medicare fee for service payments in value based purchasing categories by 2016 and 90 percent by 2018 New payment models will shift greater risk to providers and the providers that are the most efficient will be rewarded Needing Data Another essential element of population health management is data A common framework for population health management includes mechanisms to identify patients or members conduct health assessments segment patients by risk develop care programs and track the outcomes All of these mechanisms rely on solid data Meaningful use provisions have encouraged providers to upgrade technology in recent years which has increased the flow of data and created the need for data specialists to make data useful for decision making Portfolio managers and information architects or analysts should be brought on board to use the data to measure how an organization is performing against population health management goals Mapping for Population Health The community hospital mentioned above decided on an accountable care model that would help it succeed in a managed care environment Massachusetts has been aggressively pursuing managed care in its public programs through Pioneer ACO Models Medicare Shared Savings Pilots the MassHealth Patient Centered Medical Home initiative and a Medicare Medicaid dual eligible demonstration pilot In addition the major commercial insurers were advancing risk based financial models most notably Blue Cross Blue Shield with its Alternative Quality Contract AQC The hospital wanted a test case for population health management by establishing a population health model for its own employees In addition the hospital saw great opportunities for population health management in separate programs for elder care and for high risk pregnancies Rather than rely on fee for service models progressive hospitals in Massachusetts are learning to work closely with provider groups to improve care delivery and outcome measurement For many organizations starting population health programs developing a narrow provider network is often an effective first step because it can help prepare the organization for broader shifts in payment models and care coordination without becoming overly disruptive to the current operations Setting Expectations Metrics The framework established at the Massachusetts hospital allows the initiatives to be communicated across the organization and sets expectations about accountability It includes metrics that are aligned with clinical and business goals and an approach to evaluating the progress Senior executives meet monthly to set expectations make adjustments build momentum and obtain resources Measuring quality and tracking patient results in real time with dashboards helps leadership understand where care is underperforming A population health road map was developed at the hospital The hospital s leadership assessed its care delivery capabilities and opportunity to stratify its patient population by risk as well as the necessary next steps Among the initial achievements from the population health management program the hospital achieved the following steps Developed and implemented a program called Nursing Improving Care for Healthsystem Elders NICHE which included

    Original URL path: http://www.hfma.org/Content.aspx?id=43476 (2016-02-10)
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