Expanding beyond the revenue cycle silo is important to maintaining a well-rounded department, so take time to review three stories pertaining the revenue cycle published for other healthcare sectors.
MGMA shows keys to business success at medical groups
A new report from MGMA highlights the best practices of successful medical groups.
The MGMA assigns Better Performer status based on metrics including compensation and production, cost and revenue, and practice operations. The new report is based on information collected from 4,098 organizations, with 1,129 identified as Better Performers—a 36% increase compared to organizations that earned the Better Performer designation in 2021.
Michelle Mattingly, director of data solutions at MGMA, told HealthLeaders that there were three primary commonalities among Better Performers that excelled in accounts receivable.
- An emphasis on collecting accounts receivable in the first 30 days of billing, leaving less dollars to be collected in the past due buckets such as 120+ days in accounts receivable
- Use of a claim scrubbing tool to catch clerical and coding errors
- Running monthly accounts receivable and separate out insurance and patient balances by service date
Inflation, staffing shortages, and more. How Mount Sinai South Nassau is weathering the storm
John Pohlman, CFO, and senior vice president of finance for Mount Sinai South Nassau has been working to overcome these challenges since assuming the role back in October of 2019.
He has always been mathematically focused and wanted a career in finance. He came into the healthcare industry with an understanding of how unique it is, knowing it wasn’t an area to be taken lightly, and that the financial well-being of an organization must walk together with the well-being of patients.
Pohlman recently connected with HealthLeaders to discuss the financial challenges currently facing the healthcare sector, how to overcome those obstacles, and his ultimate goal for Mount Sinai South Nassau.
New study touts value of in-person training for patient portal use
Online patient portals may offer huge benefits for hospitalized patients seeking to access healthcare resources, but they won’t work unless patients know how to use them.
New research conducted at the Ohio State University College of Medicine and published in JAMA Network Open finds that patients who are trained by their healthcare providers in person will have a better grasp on how to use digital tools than those who use videos for their education. This means that healthcare organizations should emphasize and invest in hands-on training if they want to see the full benefits from patient portals.
“Inpatient portals empower patients by giving them access to clinical data such as test results, information about their care plan and a way to communicate with doctors and nurses,” Ann Scheck McAlearney, distinguished professor in the Department of Family and Community Medicine, executive director of the Center for the Advancement of Team Science, Analytics, and Systems Thinking in Health Services and Implementation Science Research and associate dean for Health Services Research at Ohio State College of Medicine and The Ohio State University Wexner Medical Center, said in a press release. “Portal use supports a patient-centered care model where patients are more engaged and knowledgeable about their health care and feel valued as patients.”
Amanda Norris is the Associate Content Manager of Finance, Payer, Revenue Cycle, and Strategy for HealthLeaders.