Revenue Cycle Management

We are deep into the fourth quarter of 2024, and you are probably preparing for the holidays and wrapping up year-end projects. As we celebrate the end of the year, it is important to also look ahead and lay the groundwork for revenue cycle management success in 2025. Following are some points to consider in your strategic plan for next year. Contract Renegotiations Understanding your payer agreements and your patient population will be instrumental to successful contract renegotiations in 2025. Once your agreement has met its initial term, you can …
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Phyllis Dobberstein, CPC, CPMA, CPCO, CEMC, CCC We are heading into fall, and fall starts with updates to the ICD-10-CM codes. The most recent changes went into effect on October 1, 2024. There is no grace period. Because ICD-10-CM codes are date-specific, claims prior to date of service October 1, 2024, need to use the codes for that time period, switching over to the update on the exact day. While ICD-10-CM codes are updated semi-annually, the major updates occur in October. Changes include 252 new codes, 36 code deletions, and …
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Over the past 2 decades, urgent care has been on the forefront of consumerism. Increasingly, healthcare consumers are realizing how much they are contributing to the cost of healthcare delivery through taxes and payroll premium deductions, and therefore, they’re more motivated than ever to attain the full value of the benefits they’ve paid for. Urgent care has remained focused on the consumers’ sense of value by appealing directly to patients as clinics market their convenient locations, diagnostic capabilities, and extended night/weekend hours. However, regardless of their reasons for preferring an …
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Phyllis Dobberstein, CPC, CPMA, CPCO, CEMC, CCC Nearly all of us in the healthcare ecosystem were impacted by the cyberattack on Change Healthcare in February that caused widespread network disruptions. Change Healthcare processes 15 billion healthcare transactions annually and is connected to one-third of patient medical records in the United States. More than 100 Change Healthcare applications across pharmacy, medical, dental, patient engagement, and payment services were affected by the disruptions. Months later, United Health Group (UHG), Change Healthcare’s parent company, said it had restored 30% of its products, while another …
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Heather Rothermel When considering contracting for your clinic, it will be important to know how you plan to market your clinic and to ensure that you align with the needs of your community. Will you be a primary care practice, an urgent care practice, or a blended practice? Thoroughly analyzing your market and competition should help guide this decision, but there is a bevy of things to consider—everything from contract type, credentialing requirements, reimbursement methodologies, participation criteria, and the impact to members of the health plans you contract with. Below …
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