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ASC Revenue Cycle July Industry News Wrap-Up

Each month Regent Revenue Cycle Management (Regent RCM) explores the top news and headlines affecting the health care industry. This month in the news: A new infographic details changes that the U.S. Department of Health and Human Services has implemented for payment models; A pair of funding opportunities that will establish an Information Sharing and Analysis Organization; Becker’s Hospital Review has chosen 15 revenue cycle management leaders to know; And the release of the 2017 proposed Medicare payment rates for ASCs by the Centers for Medicare & Medicaid Services.

Changes come to revenue cycle management in new value-based environment

The healthcare landscape continues to shift from volume to a value-based healthcare model. A new infographic details changes that the U.S. Department of Health and Human Services has implemented for payment models. Click here to read more.

HHS to fund cybersecurity information sharing organization

To provide more threat and information sharing and improve cybersecurity awareness, HHS, ONC and the Assistant Secretary for Preparedness and Response announced a pair of funding opportunity announcements to establish an Information Sharing and Analysis Organization. Click here to read more.

15 Revenue Cycle Management leaders to know

The importance of fiscal responsibility is at an all-time high in healthcare, and thought leadership is critical. With that in mind, Becker’s Hospital Review chose 15 revenue cycle management (RCM) leaders to know. Regent RCM VP of Revenue Cycle Michael Orseno made the list and adds key insights from the ASC community. Click here to view the list.

2017 Proposed Medicare Payment Rates Released

The Centers for Medicare & Medicaid Services (CMS) on July 7 released the 2017 proposed payment rule for ASCs. In the proposed rule, ASCs would see an effective update of 1.2 percent—a combination of a 1.7 percent inflation update based on CMS’s estimation of the change in Consumer Price Index for All Urban Consumers (CPI-U) and a productivity reduction mandated by the Affordable Care Act of 0.5 percentage points. Also, the agency has proposed to add eight new procedures to the ASC list of payable procedures for 2017. Click here to read more.

Regent RCM’s Michael Orseno to Speak at Becker’s Second Annual CIO/HIT + Revenue Cycle Conference

Regent Revenue Cycle Management (Regent RCM) has been selected to participate in this year’s CIO/HIT + Revenue Cycle Conference hosted by Becker’s.

Michael Orseno, Vice President of Revenue Cycle at Regent RCM, will contribute to a timely panel discussion, Addressing High Deductible Patient Plans and the Evolving Role of Patients Becoming Payers, from 1:00 p.m. – 1:45 p.m. on Thursday, July 28.

“More and more, patients are responsible for handling most of the financial responsibility for their medical care,” said Orseno. “Moving forward, it is critical for revenue cycle leaders to focus on high deductible patient plans, and understand how these plans impact the revenue cycle.”

The conference takes place July 27-28 at the Fairmont Hotel in Chicago. Attendees can sit in on a variety of sessions, featuring 175 experts and revenue cycle leaders. Overall, there will be nearly 100 sessions over the two-day conference, with three full CIO/Health IT tracks, as well as three full revenue cycle tracks. Topics include:

  • The Transformation from Volume to Value and the Constant Movement and Impact on the Revenue Cycle—Wednesday, July 27, 8:05 a.m. to 8:45 a.m.
  • Adapting Best Practices for the Revenue Cycle– Wednesday, July 27, 8:50 a.m.-9:30 a.m.
  • Key Thoughts on Improving Revenue Cycle– Wednesday July 27, 9:50 a.m.-10:30 a.m.
  • The Biggest RCM Pitfalls– Thursday, July 28, 9:45 a.m.-10:25 a.m.
  • Post ICD-10—How is the Revenue Cycle Performing? – Thursday, July 28, 1:00 p.m.-1:45 p.m.

For more information on the conference and registration, download the brochure here.

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ASC Revenue Cycle May Industry News Wrap-Up

Each month Regent Revenue Cycle Management (RCM) explores the top news and headlines affecting the health care industry. This month in the news: Managing overpayments from insurance companies, a new app for cataract surgeons, and tools to streamline patient handoff at health care facilities.

Expert Advice on Handling Overpayments

Regent RCM Vice President of Managed Care Andrea Woodell advises ambulatory surgery centers (ASCs) to avoid racking up overpayments from insurance companies. In a recent article addressing the burden this places on billings and collections, Woodell details the steps centers should take to deal with overpayments. Click here to read her helpful tips and click here for a blog post that further examines this issue.

New App Puts Information at Surgeons’ Fingertips

Cataract surgeon pre-op notes to go digital with new iOS app under development by Bausch & Lomb and IBM. The iPhone and iPad app enables surgeons to access information before, during and after procedures, organizing essential information. Pilot testing on the cloud-based app is scheduled to begin later this year. Click here for details on how the app can help with more efficient planning and follow-through for surgeons.

Top Tools Streamline Patient Handoff

Health care facilities can utilize a host of tools aimed at improving and streamlining patient handoff. A recent article lists ten tools that are currently available, including Digital Nurse Assistant, which automates tasks nurses commonly perform by hand, and a patient handover toolkit that looks at all aspects of patient handovers including common problems experienced and recommended standard protocols. Click here for all 12 helpful tools.

Contact Regent RCM at 312-882-7228 to learn more about cost-effective billing and collection services for ASCs.

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Part One: Regent Partner ZirMed Weighs in on High Deductible Plans

ZirMed®, which empowers healthcare organizations to optimize revenue and population health with the nation’s only comprehensive end-to-end platform of cloud-based financial and clinical performance management solutions, partners with Regent RCM to make sure ASCs have the shortest revenue cycle possible and get paid on time for services rendered. ZirMed Partner Relationship Manager Emily Reder has worked directly with Regent RCM for a year-and-a-half, but ZirMed’s association with Regent RCM goes back to June 2011.

In the first of a two-part blog series, Reder shares her perspective on the rise in patient responsibility and how this trend impacts the revenue cycle.

“We see that high deductible plans are becoming more and more popular because, from a premium perspective, that’s sometimes what’s affordable,” stated Reder.

She explained that ASCs and other providers once depended on getting all or most of their payment from the payer. But now ZirMed is finding that it’s double the amount of work for providers to get paid by the patient rather than the payer, due to higher deductibles and the time and expense required to collect from patients after they receive services.

“It’s expensive to send unpaid bills into collection,” said Reder. “So that game has really changed and we’re focusing more effort on collecting as much as possible from the payer, but also having a follow-up plan to make sure that once you get through the adjudication process with the payer, you’re on really solid footing to collect the rest from the patient.”

To accomplish that, Reder stressed the importance of establishing a foundation when the patient is first seen. “We call it the patient access phase of the revenue cycle, where you’re first seeing the patient, getting information from them, and collecting as much information as you can upfront,” said Reder. “Eligibility verification is very important, being able to create the start of a consumer-like process for the patient. Patients are really starting to behave more as consumers rather than traditional patients, because they’re having to pay for care out of their own pockets.” And Reder does not see that trend changing anytime soon.

In the second segment of this blog series, Reder will discuss how Regent and ZirMed are helping ASCs best address this trend while effectively managing the revenue cycle.

For more information about Regent RCM click here.

To contact ZirMed or request a demo, click here.