To control costs and improve results, many medical groups are evaluating a new generation of outsourced revenue cycle management (RCM) solutions. But wading through RCM solution options can be confusing. One obvious measure is the price of the solution. It’s important to evaluate the total cost of ownership to help make the right decision for your practice. Considerations should include the answers to these questions: 1. Will the solution save staff time by automating time-consuming tasks with easy-to-learn software? 2. Will the solution’s analytics give you insights to help you proactively manage the revenue cycle, provider productivity and benchmark performance? 3. If you decide to make a change in the future, is the solution portable? Or will you need to start a new solution from scratch? 4. Will your staff continue to perform certain tasks internally, or will your partner? [...]

Do you have the data and insights you need to better manage your practice and improve profitability? Over the years, the business of running a physician practice has become immensely complicated and labor intensive. Health plan rules and government regulations are constantly changing. And while it’s increasingly important to cut costs, increase efficiency and align compensation with productivity, it’s difficult and time consuming for practices to track these and other key success measures, let alone understand how they’re performing versus their peers. To help, today I’m really excited to announce Allscripts Practice Performance, a new business intelligence and comparative analysis tool that responds directly to our customers’ evolving business needs. Leading medical providers have told us they want a new generation of cloud-based solutions that give them actionable business intelligence. Allscripts Practice Performance delivers with a complete analytics and business intelligence solution [...]

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Four Steps to Physician Revenue Cycle Transformation

Amid all the talk of Stage 2 Meaningful Use, Value-Based Care and ACOs at the HIMSS conference in Las Vegas last week, it was easy to overlook the dominance of the longest lasting trend of all in healthcare IT. Revenue cycle management doesn’t generate as much buzz as health reform but it’s still priority No. 1 for hospitals and physician practices nationwide. It’s easy to see why. As the latest Obama Administration budget indicates, reimbursement from payers including Medicare and Medicaid continues to decline. As a result, self-pay is on the rise, even as it is becoming harder to collect payment from patients, many of whom are struggling just to hold onto health coverage for their families. In this environment, effective revenue cycle management has become more important than ever. For help, many leading medical groups are turning to a [...]