Healthcare Finance in Changing Times

The No-Nonsense Coder

This post written by Gina Homminga – www.codinglink.com

It is vital for healthcare professionals to not work in silos. Understanding the process and perspective of other departments is key in creating an effective revenue cycle. Information is handed off from the “front end” (Patient Access) to the “back end” (Patient Financial Services) with HIM and many other departments in between. The two blogs featured here are worth your time to read as they may provide insight as to why certain decisions are being made at by Hospital Administration. Knowledge is power and takes away the edge of uncertainty.

 

How to Create Sustainable Hospital Financial Improvement: 3 Steps …

http://www.beckershospitalreview.com   Fri, 07 Dec 2012 17:49:32 GMT

Finance, Revenue Cycle & ICD10  “Anyone can slash-and-burn 5 to 10 percent from their cost structure by telling cost center managers to whack a few people or to stop buying 360-slice CT scanners,” Mr. King says.  us to probe databases for department-by-department benchmarking of, for example, length of stay for certain MS-DRGs compared with other hospitals of a similar size, or where a hospital stands in FTEs per adjusted occupied bed with other hospitals.

 

5 Areas Where Hospitals Can Spend Smarter | RACs / ICD-9 / ICD-10

http://www.beckershospitalreview.com   Wed, 26 Dec 2012 20:03:48 GMT

However, hospitals should not merely be content with their contracts, even if they are in a group purchasing organization. They should routinely stay in contact with vendors to make sure all contract terms are upheld, such as 

I can say with certainty that the pace of change will only increase in healthcare. The questions you have to ask yourself are how are you going to adapt and stay relevant?

Wishing you the best!

gina@codinglink.com
http://codinglink.com/

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