Answers for a Healthier World

Understanding and optimizing the revenue cycle is not easy. There are so many activities and steps pertaining to all administrative and clinical functions within healthcare, that the ability to capture, manage, and collect patient service revenue can seem daunting. Gaining an effective capability to do so requires that healthcare providers achieve revenue cycle readiness by examining and mapping each step from patient admittance to the release of their final bill. Each step in between represents a piece that leads to a complete revenue cycle. Successful and profitable healthcare institutions often have a firm grasp on every individual step, including visibility into the revenue cycle as a whole.

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Mergers, acquisitions, and joint partnership agreements among hospitals have picked-up over the past few years, and for good reason. Organizations are looking for alternative partnerships or affiliations as a pathway to success under the emerging value-based business model, often referred to as a population health management model.

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Many of the technologies as well as the business processes and even best practices that have been a bedrock for industries are being washed away by a phenomenon called digital transformation (DX). Cleverism.com defines digital transformation as the use of digital technology in every aspect of human society and living. They see digital transformation as the third step of a long process, coming after achieving digital competence and then becoming fully digital literate. This definition, however, doesn’t address what this means for hospitals.

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When approaching a transition from a legacy system to a new Electronic Health Record (EHR) solution, hospital CIOs can find it a daunting process to know where to begin. It’s perfectly understandable. There is so much to consider, to plan for, and to budget, that finding the first step is often the most difficult part.

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Improving the quality of care is a universal goal within the healthcare industry. Often, that goal is hindered by the number of siloed or proprietary technology systems that clinicians and patients must muddle through when seeking treatment.

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It’s a scary question for many hospital CIOs to answer. Are we ready for the legacy support team, who may already be on their way, to run our legacy systems? By the time hospital leaders ask themselves this question, it’s often too late. By then, hundreds of thousands of dollars have been spent, and the need for the in-house IT teams to pivot from running the legacy systems to focusing exclusively on implementing the new Electronic Healthcare Record (EHR) becomes painfully apparent.

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After months of preparation, the real test of your electronic health records (EHR) system is when your providers and nurses start using it in a live environment with real patients. It is normal to anticipate a few glitches. What is also normal is a temporary decrease in productivity. Despite these issues, a lot of negativity can be mitigated by preparing your staff to anticipate some challenges and frustration as they migrate to the new digital system.

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