Accounting – MD Update

&FRONT Accounting

Revenue Cycle Management (RCM) in Healthcare: Part 2

June 1, 2022June 22, 2022 Adam Shewmaker, FHFMA ■ analytics, ■ claim management, ■ claim submission, ■ patient statement, ■ start, ■ start of claim, â– , analytics, balance of the claim, bill, charge entry, claim denial, claim management, claim submission stage, claim submission stage of the process, clinical function, collection of patient service revenue, collection stage, credentialing, determine insurance eligibility, eligible payment, facet of care, full scope of patient care, healthcare, healthcare professional, healthcare revenue cycle, HIPAA, insurance, insurance eligibility, insurer, itemized list, itemized list of charge, MD-Update #139, opportunity, overview of the revenue cycle process, patient 's visit, patient care, patient collection stage, patient schedule, patient service revenue, patient-centered, patient-centered approach, patient-focused, payment, provider, RCM, RCM process, RCM strategy, RCM team, reduce claim denial, resubmission, revenue, revenue cycle, revenue cycle management, revenue cycle of claim, revenue cycle process, significant point of friction, silo, statement of financial obligation, strategy, uncertainty of expense, vital demographic information

Editor’s Note: Part 1 of Revenue Cycle Management was published in MD-Update #139, April 2022. It is available online at

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Revenue Cycle Management (RCM) in Healthcare: Part 1

April 1, 2022June 22, 2022 Adam Shewmaker, FHFMA additional insurer, apply payment, balance of the patient 's claim, big organizational roadblock, billable party, charge entry, claim denial, claim rejection, claim submission, clinical function, collection of patient service revenue, denial, denial management, determine amount, determine amount of reimbursement, determine cause, determine cause of claim denial, facet of care, full scope of patient care, healthcare, healthcare revenue cycle, insurance, insurance eligibility, insurance verification, insurer, medical appeal, medical code, patient 's claim, patient collection, patient demographics, patient insurance, patient registration, patient service revenue, patient-centered, patient-centered approach, payment, payment denial, provider, RCM, refund, revenue, revenue cycle, revenue cycle management, revenue cycle of claim, secondary claim submission, significant point of friction, submit claim, uncertainty of expense, universal medical code

Healthcare professionals strive to deliver exceptional service and outcomes to their patients throughout every facet of care. A significant point

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Provider Relief Fund Reporting Period 2

February 1, 2022April 19, 2022 Lance Mann, CPA, CFE, CGMA exist username, HRSA, https://prfreporting.hrsa.gov/s/), new guidance, new PRF report portal user, payment, period 2, portal, PRF, PRF payment, PRF report portal, PRF report portal user, provider relief fund, provider relief fund report portal, report entity, report period 2 fact sheet

The Provider Relief Funds Reporting Portal has opened for period 2. Providers who received one or more PRF payments exceeding

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Will You Be Surprised When the “No Surprises Act” Goes into Effect Jan. 1, 2022?

December 1, 2021February 15, 2022 Chip Dalton balance, balance bill, bill, bill staff, billed charge, commercial health plan, consent, consumer demand transparency, contracted rate, cost share calculation, CPI-U, determine cost share calculation, dispute resolution process, emergency, faith estimate, good faith estimate, health plan, healthcare treatment, in-network, in-network facility, in-network hospital, in-network plan, insurance, insurance plan, median of contracted rate, medical debt, member 's cost, member 's plan, new arbitration, new law, non-emergent service, out-of-network, out-of-network care, out-of-network claim, out-of-network emergency care, out-of-network emergency service, out-of-network hospital, out-of-network provider, out-of-network service, patient 's in-network, patient 's protection, payment, plan network, pre-authorization, president trump, provider, provider service, qualify amount, recognized amount, state 's medical bill law, submission process, surprise, surprise act, surprise bill

Patients have never been more concerned and affected by the cost of their healthcare treatment, as medical debt continues to

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Update on Provider Relief Funds and Their Audit Requirements

October 1, 2021December 10, 2021 Lance Mann

The Health Resources and Services Administration (HRSA) announced two important updates last week related to Provider Relief Funds (PRF) and

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Outsourcing: The New Normal in Healthcare Accounting?

August 1, 2021October 18, 2021 Justin Hubbard account team, capability in-house, COVID-19, COVID-19 pandemic, Dean Dorton, facet of healthcare, healthcare, healthcare account, healthcare industry, industry 's top priority, long-term initiative, new normal, new normal call, new normal look, next pandemic, outsourcing, Outsourcing partner, Outsourcing partner offer, pandemic, partner, professional accountant, remote work, repeat of recent event, right outsourcing partner, routine account obligation, specialized financial insight, sudden remote work requirement, time-intensive effort, unprecedented difficulty, unpredictable staff shortage

The COVID-19 pandemic challenged every assumption in healthcare. Systems that were supposed to be redundant and resilient were pushed to

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Enhancing the Patient Financial Experience Utilizing a Dedicated Customer Service Unit

June 1, 2021September 9, 2021 Chip Dalton appropriate party, bill concern, complaint, complete self-pay refund, customer, customer service function, customer service representative, customer service team, customer service unit, dedicated customer service unit, essential assistance, knowledgeable consumer, main job function, patient 's overall financial experience, patient financial experience, patient statement, positive patient financial experience, price transparency, refund, revenue cycle, self-pay, self-pay refund, specific correspondence, timely maner

An effective and patient-friendly customer service team is critical to ensuring a positive patient financial experience. With increased focus on

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Revenue Cycle Strategies: Looking Ahead to 2021

April 1, 2021June 16, 2021 Adam Shewmaker, FHFMA account volume, action item, address staff challenge, alternative work arrangement, area of opportunity, attention of the healthcare community, automated innovation process, broad strategy, budgeted initiative, department-specific goal, dollar priority account, employee engagement, engagement, enterprise risk, exception-based, exception-based process, full-blown overhaul, healthcare, healthcare community, high priority activity, idea accelerator, impact change, improvement, improvement opportunity, incremental department-specific goal, internal team member, inventory of work, large dollar priority account receive aggressive follow-up, meaningful engagement, monitor plan, ongoing uncertainty, opportunity, organization 's risk, patient-facing, patient-facing process, potential improvement opportunity, priority, priority activity, R., revenue, revenue cycle, revenue cycle maintenance, revenue cycle strategy, sure identified risk, sustain progress, team member, use of kiosk, valuable feedback

Nearly one year ago, the attention of the healthcare community shifted very quickly to preventing and responding to a new

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21s Century Cures Act: A Guide to Understanding for Those without a PhD

February 1, 2021April 14, 2021 Kevin W. Cornwell 21, 21s century cure act, API, API criterion, API functionality, category of information block provision, CoC, compliance, compliance date, concept of the end goal, cure, cure act, current API criterion, edition health IT certification criterion update, EHI, EHI export, entire cure act, image002 Healthcare, image002 Healthcare provider, image003 health information network, image004 health IT developer, information block, information block provision, initial attestation, interoperability, IT, let 's look, MoC, MoC requirement, new standardized API functionality, notice requirement, provision, real-world test, relevant aspect of the cure act, request, requirement, result of real-world test, revised timeline, significant endeavor, st century cure act, submission of initial attestation, submission of initial plan, use of EHI, well-intentioned motive

Sometimes government does pass laws with well-intentioned motives. The 21st Century Cures Act (Cures Act) is a good example. Less

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Urgent Cybersecurity Alert: Imminent Ransomware Threat in the Healthcare Sector

December 1, 2020February 17, 2021 Gui Cozzi, CISSP, CISA, CRISC check configuration, CISA, cyber, cyber threat, cybercrime threat, cybercriminals, cybersecurity alert, Dean Dorton, FBI, healthcare, healthcare provider, HHS, HPH, imminent cybercrime threat, imminent Ransomware threat, implementation of a strong information security program, incident response playbook specific, information security program, infrastructure security agency, manufacturer release update, ongoing security risk assessment, organization-owned asset, password, patch operate system, public health sector, Ransomware, RDP, remote access, response playbook specific, risk of Ransomware, Ryuk, Ryuk ransomware, security risk assessment, strong information security program, threat, threat actor, TTPs, urgent cybersecurity alert

An advisory has been released by the Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of Investigation (FBI), and

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