RCM tip of the day: Include provider data management in M&A integration plans

Hospitals involved in mergers and acquisitions shouldn't forget to include provider data management to ensure claims payment, according to Scott Friesen, CEO of Newport Credentialing Solutions.

"When a big acquisition or merger occurs, plans must be put into place to accelerate the provider onboarding/integration process. Tax identification numbers, lockbox services, and provider data must be integrated along with the ability to link providers from 'hospital A' to contracts with the insurance companies at 'hospital B," Mr. Friesen shared with Becker's Hospital Review. "Strategic decisions must be made on how to best manage provider data.

"Hospitals must evaluate whether they have the resources in house to handle the volume of providers being on-boarded," he said.  "They must also look at their technology to see if it is capable of handling a modern-day provider enrollment and data management program. This is also an opportunity to calibrate provider enrollment; if you don't already have cloud-based technology and processes in place to successfully manage the entire provider enrollment life cycle, you should."

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:
HFMA's new chair is outgoing Geisinger CFO Kevin Brennan: 4 things to know
Washington psychiatric hospital loses Medicare certification, $53M in federal funding
CHI Health to spend $20M+ to rename Nebraska arena



© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.