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Applying analytics to revenue cycle management

In an increasingly complex healthcare environment, physicians must base financial strategies on more than assumptions and anecdotes. They need analytics. Frank Cohen presents a solid case for analytics in a recent Physicians Practice webinar, entitled Analytics Do Nothing for Your Practice’s Health – True or False?. People often use limited information – what they think is true – to make management decisions. This approach can lead to three pitfalls: Failure to observe – assuming you know what the problem is without seeing what is really happening Failure to plan – assuming you know how to fix a problem without first finding out what is causing it Failure to validate – assuming the action you have taken to fix the problem has worked without measuring it Diagnosing financial issues with evidence When physicians first assess patients, they may have some intuitive […]

This past year, I completed a tour of duty with the Office of the National Coordinator for Health Information Technology (ONC).   I served as coordinator for standards related to Consolidated CDA, quality measures (HQMF) and results reporting (QRDA) that are now part of Meaningful Use Stage 2.  These standards, along with Direct Project and standardized vocabularies, will contribute to Health Information Exchange that works. I’m proud of the ONC and the community that delivered these standards.  It’s a breakthrough with significant benefit to the United States.  But it’s also only a start. The need for better Health IT solutions hits home Three days after completing my work with ONC, my wife Julie found out she had breast cancer.  We have spent every day since in the struggle for her health and survival.  We had the usual frustrations with coordinating her […]