Health systems can thrive only when revenues are collected accurately and economically. But complex payer rules and systems bog down recoveries for patient services. This drives up staffing and software costs meant to improve results.
A large healthcare analytics company needed to expand its HCC coding operations. At the time, Vee Healthtek was very experienced in many different coding disciplines but had no prior experience in HCC coding. We wanted the business, but weren’t sure if we should pursue it.
The U.S. spends over $8,250 per capita on health care every year. That's 22% higher than the next highest country and 170% higher than the average of the 50 highest-spending countries in the world!
We found a gap. We’re always hunting for opportunities to improve cash flow for our clients. One valued client, we’ll call Kurt, had a big one.
Transition takes on many faces – a company may update its business platforms, change its ownership structure or encounter the need to take strong measures to correct its financial situation. In all of these cases, having a managed services partner who can grab the steering wheel during the storm is essential to staying on course.
In 2014, hospitals and health systems faced immense challenges as they approached ICD-10 mandates. According to a 2014 Sterling Associates survey of 650 hospitals, approximately 50% expected to outsource ICD-10 coding services come October 2015—an increase from the 19% already outsourcing at the time.
A true 360-degree understanding of all parties within the healthcare ecosystem isn’t just to be preferred, it is absolutely a prerequisite to a thriving business. The traditional understanding of the delicate eco-system among the three critical players in the insurance industry are: patient, outside payer, Doctors/Hospital
If you've been in business for any length of time, chances are you've come across the phrase, "eating your own dog food," which I understand to mean "using your own product or service to demonstrate its effectiveness." After all, if your company has developed something you want others to buy, doesn’t it make sense to use it internally? Doesn’t that show confidence?
Experience with AR follow up and denial transactions across 20 million account touches on leading practice management systems leaves us continually driving for higher reimbursements.
