It's no secret that many American companies thrive on their morning cup of coffee. In fact, it can be said that the general population of America is obsessed with coffee since we consume around 400 million cups of the stuff per day. With that cup of coffee, you require a physical cup and likely a lid, which are more than likely made of both paper and plastic materials. For one person, it may not seem like this cup of coffee is harmful to the environment but if all 146 billion cups of consumed coffee used disposable paper and plastic containers, it would have a huge negative impact on the environment.
Tis' the season! Yesterday the Etactics and Open Practice Solutions teams took time out of their busy schedules to spread some holiday cheer and decorate our tree. Since the Greater Cleveland Area has received eight inches of snow over the past 24 hours, the holiday spirit was in the air. It was a great time to build camaraderie among the team and we were glad to see that everyone was able to make it!
Noch ein Bier, bitte. Every year the Etactics team celebrates the coming of Fall and cold weather with a traditional Oktoberfest celebration!
At the end of the day on Friday, we held our annual Oktoberfest and enjoyed homemade, conventional Bavarian food, drink, decoration and of course steins! We also held a 50/50 raffle for the Battered Women's Shelter of Summit County where we raised a total of $330 in one week! The mix between the weather, company, and party made for a perfect way to start the weekend.
30 years ago, the first data exchange occurred between two companies via an electronic medium. They didn’t realize it at the time, but those two companies participated in what is now known as EDI or Electronic Data Interchange. Originally, EDI was inspired by military logistics as a way to exchange vast quantities of data. Since then, millions of users, organizations, and government agencies participate in EDI every day.
Sometimes you need to set time aside so that you can view one of natures biggest phenomena, a solar eclipse. Earlier today the Etactics team put work aside and took a moment to view the amazing and rare sighting of the 2017 Solar Eclipse. The glasses and NASA approved cereal box projectors were handed out as everyone made their way to the parking lot and what an amazing sight to see!
It can be said that transaction documents are the lifeblood of a business. They bring in cash flow to your organization, which ultimately means you get paid. However, the process of sending and receiving transactional documents can be labor intensive and result in negative cash flow if it is not conducted in an efficient manner.
Episode 2 of our Whiteboard Educational series dives into the anatomy of transactional documents, the different techniques companies use to handle this process, and the best transactional document management practices.
The industry that we serve on a daily basis is complex. We work within the healthcare space helping health systems, hospitals, clinics, medical billing companies, early out providers, physician groups, and providers manage what's known as the Revenue Cycle. Many people don't know what this means which is why we are announcing Etactics' Educational Whiteboard Series. This series of videos will explain the terminology, best practices, and procedures of our industry to make it easier to understand exactly what we do to help our clients get paid.
Over the years I have been to, what seems like, hundreds of trade shows. I have been fortunate to see these events from vastly different perspectives and have done a variety of industry specific shows, including a company in the publishing industry that hosted a huge tradeshow in the late 90' that I had a small part in getting vendors to participate. So, I've attended as a vendor, a prospect, and a host. I have gone to look at new technology and services, find new customers, have discussions with old customers and friends, and listen to great speakers.
As the healthcare marketplace continues to navigate change, providers are being asked to deliver outcome-based results that will be directly associated with payment and reimbursement. Their business partners and providers, in turn, will be asked to provide new solutions and services that move away from the mundane and provide greater opportunity for an increase in revenue cycle results.
Patient responsibility is a large component in today's Healthcare Reimbursement Landscape, due to higher-deductible plans and higher co-pays on the rise. As plans change, patient confusion increases causing a need for providers to be more strategic and ensure that they have the tools in place in order to collect while also not draining their revenue. With healthcare consistently evolving, providers are looking to improve business processes, boost staff productivity, reduce expenses and accelerate payment.