Unlocking the Power of Interoperability for Revenue Cycle Management

Interoperability is game-changing not just in a clinical setting, but it holds tremendous potential for healthcare’s financial stakeholders as well. A seamless transfer of data in the revenue cycle process results in optimal reimbursement, reduced administrative costs, and fewer surprises for patients. Healthcare IT Today sat down with Juli Forde Smith, Director of Strategic Partnerships at ZOLL Data Systems and Erica Gregory, Senior Vice President at Netsmart to discuss interoperability for revenue cycle management (RCM). Prioritize Intake for Effective RCM Patient intake is an important part of the revenue cycle process. The information gathered prior to care delivery has big impacts on the efficiency of claims moving through to payment. “Roughly 60 percent of our claims come from our referral-admit-intake process,” explained Gregory. “If that process is not streamlined and if we do not have data integrity, it is extremely difficult to provide a good intake experience and have a good first-pass pay rate.” A streamlined patient intake process is also an opportunity to create transparency with patients. For example, prior authorization and patient eligibility are now key steps to ensuring price transparency and fewer financial surprises for patients. “So much of the experience for patients is a financial one,” added Smith. “The earlier and more seamlessly we can engage, the better.” RCM interoperability Impacts Patient Experience Streamlining data flow from ...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Ambulatory Health IT Company Healthcare IT HIM Hospital - Health System Revenue Cycle Management Erica Gregory financial interoperability Inovalon Juli Forde Smith Netsmart Patient Experience Patient Financial Experience RCM RC Source Type: blogs