In medical billing, time is extremely important because when it comes to claim submissions there is some serious revenue on the line. A timely filing limit is a constant, lingering due date that healthcare providers need to understand.
Recently I was asked to help promote, ConnectPlus® as a A/R resolution tool for the healthcare and commercial market spaces. My personal knowledge of the healthcare space is pretty extensive as I have broken damn near every bone in my body at one time or another and find ways to have multiple surgeries about every 10 years (5 in 20 years, for those who care). My professional experience is pretty extensive as well, but not specifically on patient statement services and aged receivables.
In the fall of 2014, we began to serve the Long Term Care Pharmacy vertical marketplace with our automated statement solutions. Although we have been serving similar healthcare clients for years with our service, this vertical had some unique challenges that we encountered and were able to solve. They included the following…
Many healthcare providers choose to work with vendors like Etactics so they can focus on providing quality care to their patients. Several of our previous blog posts have discussed the need for vendors to be interoperable. This is a very important quality to note when choosing a vendor. However, this does not mean that an outside company can always do a better job than your current billing staff, specifically when it comes to collections. Today we will discuss key considerations to decide if using an early out vendor is right for you.
Any of us with a reasonable amount of experience in the healthcare revenue cycle space realize management systems (PM, EHR, EMR) all have their strengths, but also have their weaknesses.
Many systems do not readily lend themselves to satisfactory modeling existing business processes that, albeit fairly manual, are deemed effective and best practices. Other systems may effectively model some processes but are found to be lacking flexibility in other key areas. The bottom line is that, based on its own merits, NO ONE SYSTEM seems to be a “perfect fit” for any medical provider or facility.
On Tuesday, August 26, Etactics hosted a panel discussion via a webinar. The topic addressed was evaluating your Financial Assistance Policy and Preparing for 501(r). Our panelists included Keith Hearle, who is the founder and president of Verité Healthcare Consulting, LLC located in the Washington D.C. area, and Joe Ferrara, who is the Director of Process Automation Solutions at Etactics.
"Interoperability", by definition, describes systems and devices that can exchange, interpret, and subsequently present data such that it can be understood by a user. In my mind, it means accessible, open, flexible and impervious to the control of outside influences. Open and flexible however is not the norm in the healthcare space for many providers of software solutions. The challenge for healthcare providers today becomes how to effectively leverage both innovation and competition to drive down or keep its costs stable when software providers attempt to monopolize their entire enterprise.
“Best in class”, “Don’t put all your eggs in one basket”, and “control your own destiny”. These were all common business adages that I referred to often as my professional career started and have been the cornerstone of many of my business decisions since. However, over the past 10 years, it has become painfully obvious to me that for a variety of reasons our current leaders do not consider these adages relevant when making important decisions. This is certainly apparent with system requirements, vendor selection, and/or purchase of many major healthcare systems.