Tuesday, July 27, 2010

Amerinet Executive Briefing Offers Best Practices on Revenue Cycle Enhancement

Source: Amerinet Press Release

Amerinet Media Contact:
Evan Danis, Director of Alliance and Member Marketing
Phone: 724-778-3423
Email: evan.danis@amerinet-gpo.com

St. Louis (July 27, 2010) – Amerinet Inc., a leading national healthcare group purchasing organization, today released the executive briefing, Keeping the Reimbursement Train on Track, which offers tips and best practices aimed at ensuring hospitals and other healthcare providers are collecting all the revenue they are due. A free copy of the executive briefing is available on the Amerinet website.

The briefing by Kelley Blair, MA, vice president at Craneware Professional Services, and Linda Corley, MBA, CPC, corporate compliance officer for Revenue Cycle Solutions at Dell Services, examines how the revenue cycle process touches all points of care – from the moment the patient walks in the door through final collection of payment – and how a breakdown at any stage can hurt profits.

“The majority of hospitals are still not collecting all of the revenue they are entitled to. Ninety-two percent of hospitals lost money on outpatient services – the fastest growing segment of hospital billable services – and medical necessity denials cost some hospitals more dollars than they receive in collections,” said Corley. “This adds up to lost revenue contributing to the negative margins experienced by nearly one-third of hospitals.”

Specifically, to start recapturing funds, healthcare executives need to:

* Determine whether the “train is off the track” and identify the problem points

* Start by cleaning up the chargemaster and implementing controls to ensure that it is well maintained and properly used

* Assess key stops in patient access, medical management and receivables management to identify and prioritize issues

* Involve all relevant teams, not just the chargemaster team or the billing office, to improve processes

“In a market where available capital is shrinking, healthcare organizations must look internally to increase cash flow. Like the supply chain, the revenue cycle holds huge opportunities to generate cash,” said Blair.

Amerinet, Craneware and Dell Services, along with Unibased Systems Architecture, have formed the Amerinet Alliance for Financial Efficiency, which offers the most effective approach to end-to-end revenue cycle management and financial performance improvement solutions.

From scheduling to remittance processing, from charge capture to collections, from preregistration to AR management, the Amerinet Alliance for Financial Efficiency offers healthcare organizations the aligned solutions they need to reduce costs, generate revenue and achieve the financial health needed to best serve their communities. To learn more, click here.

About Amerinet
As a leading national healthcare group purchasing organization, Amerinet strategically partners with acute and alternate care providers to reduce costs and improve quality through its performance solutions. Built on a foundation of data, savings and trust, and supported by a team of clinical and supply chain experts, Amerinet enriches healthcare delivery for its members and the communities they serve. To learn more about the Amerinet difference, visit www.amerinet-gpo.com.

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