Here are five articles published by Becker's Hospital Review this past week, which offer insight on out-of-pocket costs for family caregivers, how to thrive in the changing reimbursement climate and the issue of patient misidentification.
1. 7 recent RCM product launches
A roundup of companies that debuted revenue cycle management products for healthcare providers so far in November.
2. Family caregivers struggle with out-of-pocket costs: 8 things to know
Family caregivers, on average, spend roughly $7,000 annually on out-of-pocket costs related to their work, according to an AARP study. For the study, researchers used a mixed method approach that included both a survey and diary component. This study was conducted from July 18 to Aug. 28 among 1,864 family caregivers using GfK's national, probability-based online KnowledgePanel.
3. How to thrive in the environment of changing reimbursements
As hospitals and health systems transition to alternative payment models, many are seeking answers on how to best navigate changing reimbursement levels. At Becker's Hospital Review 5th Annual CEO + CFO Roundtable on Nov. 8, experts seasoned in healthcare finance discussed how their entities are working to stay ahead of the curve. During a panel titled, "Observations and thoughts on changing reimbursement levels: How to thrive," the panel emphasized why the revenue cycle management process and financial planning are critical for reimbursement success.
4. Cerner touts RCM growth, Black Book names No. 1 CDI vendor & more — 10 RCM keynotes
Ten recent updates from revenue cycle management companies.
5. Scan your way to a better bottom line
Hospitals' methods for gathering patient information remain largely imprecise, which can lead to costly, long-lasting ramifications for hospital finances downstream. Many hospitals still rely on rudimentary oral registration processes to enter patients' information into sophisticated electronic systems. However, "vocally relaying and manually entering patient identification information leaves ample room for error by the patient, the staff at the registration desk or the computer system itself," Aaron Miri, CIO and vice president of government relations at Imprivata, said during a webinar Oct. 27. Mr. Miri was joined on the webinar by Justyna Evlogiadis, senior product marketing manager of Imprivata PatientSecure™, and Molly Drake, former senior director of corporate access management at Scripps Health in San Diego, to examine the scope of the patient misidentification crisis and the promise of biometric identification solutions.
More articles on healthcare finance:
Quorum Health adds 6 more hospitals to sale pipeline
Kindred to close Texas hospital, leaving 92 without jobs
Fitch: ACA repeal would be credit negative for hospitals