John Kurvink, vice president of corporate services and CFO of Georgian Bay General Hospital in Ontario, Canada: For our hospital, about 70 percent of the funding is activity based, so it’s based on the patients we serve and the clinical diagnosis and the case mix index. So it’s really important for us to capture the right documentation right upfront on admission — the postal code, zip code, where the patient is from — because that’s how funding comes back to us, and it floats through a system of clinical documentation, physician documentation, medical record.
To learn more about how to thrive in the environment of changing reimbursements, access this story from Becker’s Hospital Review.
If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the “RCM tip of the day” series.
More articles on finance issues:
CFOs name top 6 challenges in 2017
Allina Health’s bottom line takes $104.8M hit from nurse strikes
Family caregivers struggle with out-of-pocket costs: 8 things to know
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
