Changes ahead for revenue cycle in 2015
Continuing uncertainty about the implementation and ultimate impact of ICD-10, and the expansion of bundled payments in 2015, mean hospitals will have to have sound systems and strategies in place for revenue cycle management in 2015.
As Kurt Ullman writes at Healthcare Finance, "revenue cycle directors have to make sure good contract management systems are in place to get every dime they are entitled to."
In addition, as the Centers for Medicare & Medicaid Services moves forward with more population-based payments, good communication across departments will be critical.
“The RCD has more pressure to explain, understand, and educate those at the departmental level,” John Behn of Portland, Maine-based Stroudwater Associates tells Ullman. “Success is based less on the executive suite, and more on departments’ understanding, accountability and ownership of the changes.
The will-they-or-won't they status of ICD-10 is another big wild card, says Behn, as some hospitals – gripped with uncertainty about whether the Oct. 1, 2015 deadline is for real this time, or whether Congress will delay it for another year – experience what he calls "ICD-10 Derangement Syndrome."
Read the full story here.