Mnet Health on Best Practices to Ensure 501(r) Compliance

Mnet Health on Best Practices to Ensure 501(r) Compliance

There is a slew of regulations that impact hospital revenue cycle and the IRS 501(r) is one of them. For 501(c)(3) nonprofit hospital organizations, they need to comply or possibly lose tax-exempt status. In addition, a hospital could be imposed with a $50,000 excise tax for violations of Section 501(r)(3) CHNA requirements.

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3 Challenges Facing ASC’s and Tips to Overcome Them

With patients having more financial responsibility for their healthcare, outpatient settings like surgery centers are becoming more attractive to patients. In general, procedures at ASC’s are 35% to 50% more than hospitals. This steady growth for ASC’s presents new opportunities but will also present some new challenges as well. What are the major challenges?

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How ASC’s Can Use Technology for Better Patient Financial Experience

With an increasing number of patients with high deductible health plans, it is essential that ambulatory surgery centers leverage technology and automation to improve the patient financial experience. A recent report shows that the ASC market could grow to $120.8 billion industry by 2026 but there is a great need to begin using technology to make improvements to the patient financial experience.

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SBA Encourages CFPB to Mitigate Rule’s Impact on Small Business

The U.S Small Business Administration submitted comments to the CFPB’s proposed rule for the Fair Debt Collection Practices Act in line with ACA International’s suggestions on consumer communications and disclosure notices and noting the significant impact it could have on small business. Read more to find out the most noteworthy comments.

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Three Proactive Approaches for Improved Claims Denials Management

Three Proactive Approaches for Improved Claims Denials Management

To maximize revenue claims denials management, healthcare providers need to follow the advice “an ounce of prevention is worth a pound of cure.” For surgery centers and surgical hospitals, being proactive means preventing revenue leakage and being profitable. Building a solid strategy and doing regular checkups to maintain a healthy bottom line sets your facility up for growth.

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Trump Executive Order Opens Door for Hospital Price Transparency

Trump Executive Order Opens Door for Hospital Price Transparency

The Centers for Medicare & Medicaid Service recently proposed a rule that would require hospitals to make pricing information publicly available. It is CMS’s position that the rule would increase competition by enabling patients to shop for healthcare that meets their needs and budgets.

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Poll Shows a Majority of Americans Worry About Hackers

Poll Shows a Majority of Americans Worry About Hackers

With constant news about data breaches compromising personal information, it is no wonder that Americans are increasingly squeamish about being hacked. A new poll found that a majority of American adults worry about hackers gaining access to their social security number and credit card information.

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Trends Impacting the ASC Landscape: 5 Things To Know

Trends Impacting the ASC Landscape: 5 Things To Know

According to McKinsey research, nonhospital-provider segments are primed for growth and could account for almost 55 percent of projected profit pools by 2021; including everything from diagnostics, pre-, non-, and post-acute services, surgery centers, physicians and other healthcare professionals. In a rapidly changing healthcare landscape, it is critical to understand these trends; otherwise, surgery centers may be missing opportunities to optimize payment and enhance their bottom line.

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The State of Medical Collections

The State of Medical Collections

Medical debt accounts for one of the largest markets in collections. While the Fair Debt Collection Practices Act regulates debt collection in general, the American Hospital Association (AHA) created a set of guidelines for member hospitals to follow regarding their billing and collection practices. Other state hospital associations have implemented their own guidelines as well. ACA members who collect medical debt should be aware of both state and federal guidelines for hospital billing and collections.

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Texas Enacts Healthcare Measures Impacting Credit Reporting and Surprise Medical Billing

Texas Enacts Healthcare Measures Impacting Credit Reporting and Surprise Medical Billing

The state of Texas recently enacted new healthcare measures related to medical billing and credit reporting of out-of-network care. There are some implications regarding the billing of consumers for out-of-network care as well as the reporting of debts related to out-of-network care. Read more about it after the jump.

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Consumerism in Healthcare: What ASC’s Need to Know

Consumerism in Healthcare: What ASC’s Need to Know

The ASC market is expected to grow at 4 percent between 2017 and 2027, with multispecialty ASC's expected to dominate over the next decade. How can the ASC world adapt to the growing trend of consumerism in healthcare and thrive?

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JAMA Study Finds 36% of Virginia Hospitals Garnishing Wages Over Unpaid Bills

JAMA Study Finds 36% of Virginia Hospitals Garnishing Wages Over Unpaid Bills

Not every hospital sues over unpaid bills, but a few sue a lot according to an article published by NPR. While hospitals say lawsuits are rare, they concede that they cannot stay afloat without getting paid for services.

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News & Notes: August 2019

News & Notes:
August 2019

A collection of news and notes from in and around the world of healthcare. This month: "Pelosi Expects Drug Pricing Bill in September", as well as "Senate Health Committee Continues to Work on Lower Healthcare Costs."

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Senate Health Committee Votes to Reduce Health Care Costs

Senate Health Committee Votes to Reduce Health Care Costs

Before the July 4th holiday, the Senate Health, Education, and Pensions Committee approved legislation that ends surprise billing, creates more transparency and increases competition to reduce prescription drug costs. Read more about this story by clicking here.

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Unforeseen Out-of-Network Charges Cause Concern Amongst Consumers

Unforeseen Out-of-Network Charges Cause Concern Amongst Consumers

1 in 6 Americans in 2017 was surprised by a medical bill they received after treatment in a hospital despite having insurance. Most of them came from doctors offering treatment at the hospital, even when the patients chose an in-network hospital.

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Three Tips to Improve Your Revenue Cycle in 2019

Three Tips to Improve Your Revenue Cycle in
2019

Healthcare providers today face increasing cost pressures to grow their revenues-which can lead to diminished operating results. A recent survey revealed that operating loss per physician has increased from 10% to 17.5% in 2017. Here are 3 tips for improving your revenue cycle.

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What Keeps You Up at Night?

What Keeps You Up at Night?

The cost of healthcare in the US is a significant source of apprehension and fear for millions of Americans, according to a new national survey. With over $3.5 trillion spent in 2017 alone, the national poll indicates this financial burden causes a multitude of worries and anxieties for a large section of Americans.

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HHS Payment Model Designed to Meet Beneficiaries’ Emergency Needs

HHS Payment Model Designed to Meet Beneficiaries’ Emergency Needs

Supporting ambulance triage options aims to allow beneficiaries to receive care at the right time and place. The new model is known as the Emergency Triage Treat and Transport will make it possible for participating ambulance suppliers and providers to partner with healthcare practitioners to deliver treatment in place. Find out more after the jump.

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3 Tips for Working with RCM Partners to Handle Self-Pay Patients

3 Tips for Working with RCM Partners to Handle Self-Pay Patients

Patient balances present one of the most significant challenges in healthcare, especially for surgery centers. With ever-rising costs, ASC's see an increase in the number of patients with high deductible insurance plans. Studies show patient obligations have increased by almost 30 percent since 2015 and many are finding it difficult to pay off their medical bills. How should my center approach this problem?

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How Insurance Coverage Impacts Consumers’ Ability to Pay

How Insurance Coverage Impacts Consumers’ Ability to Pay

New data on health insurance in the U.S. reflects the quality of coverage and the impact of coverage levels on consumers' ability to pay medical bills and access care. The survey finds that consumers who are underinsured are more likely to have challenges paying their medical bills or simply avoid medical care due to the expense.

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Patients Prefer Payment Plans for Medical Bills

Patients Prefer Payment Plans for Medical Bills

As out-of-pocket healthcare costs continue to increase, more patients prefer payment plans to manage their medical bills. Find out other insights gathered by this survey of patients taken in the previous year.

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Why a Patient Friendly Billing and Payment System Matters

Why a Patient Friendly Billing and Payment System Matters

It may pay to consider patient consumerism when dealing with patients. Healthcare is a major expense for patients, so it has become important for clinics and practices to demonstrate that their care is as much about the patient's financial health as their physical health.

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How to Prevent Revenue Leakage in Your ASC

How to Prevent Revenue Leakage in Your ASC

The healthcare reimbursement landscape has changed dramatically in the past few years. Just five years ago healthcare providers could get 90% of their revenue from government payers and commercial insurance companies, but today patient's payments make up as much as 33 % of provider revenue. How will this affect your ASC?

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3 Strategies for a Patient-Centered Revenue Cycle in 2019

3 Strategies for a Patient-Centered Revenue Cycle in 2019

As patient financial responsibility grows, the patient experience becomes very important in your revenue cycle. Here are three strategies you might want to consider in aligning your healthcare revenue cycle with the needs of your patients. Click to read more.

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Healthcare Providers Report Status of Revenue Cycle Management

Healthcare Providers Report Status of Revenue Cycle Management

Recent research shows some hospitals lagging in implementing revenue cycle management solutions and outsourcing services as a short term solution. In fact, Black Book Market Research has conducted a survey that shows that twenty-six percent of all U.S. hospitals still don't have a viable, effective RCM in place. Click now to see what other findings the survey has to offer.

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Senators Cosponsor Legislation to End Surprise Medical Bills; Lower Healthcare Costs

Senators Cosponsor Legislation to End Surprise Medical Bills; Lower Healthcare Costs

Two US senators recently introduced companion legislation that would help consumers manage healthcare costs and stop unexpected medical bills. How will this legislation affect your hospital or medical center?

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The Current Healthcare Payments Landscape and Future Opportunities

The Current Healthcare Payments Landscape and Future Opportunities

The trend in the healthcare payments system is that high deductibles are the norm and patients are responsible for a greater portion of their services. In fact, out-of-pocket expenses are projected to reach $608 billion in 2019. What other trends are expected in 2019?

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