Category Archives: News

What Makes A Good RCM Leader

A good RCM leader must have a deep understanding of financial management.

Whether the job entails leading the revenue cycle management efforts for a clinic, hospital, or an entire health system, there are many aspects and responsibilities to the role of a RCM leader. Therefore, it is essential that a revenue cycle management leader possess certain individual qualities, have a very specialized skill set, and produce specific results while in the role.

The Expanding Role Of RCM Leaders

According to Becker’s Hospital Review, the role of a “revenue cycle management leader is evolving to encompass far more than billing and collections.” In fact, in order to be successful, someone in a RCM leadership role must take on a “much broader view” of the revenue cycle, including strategy and training other employees and departments. Becker’s further assets that “RCM leaders now have a more tangible impact on the hospital or health system’s financial and market success.”

Because of the expansion of the revenue cycle management role, the levels of these positions are also becoming more senior level in order to attract the best talent. Nowadays, it is quite common for hospitals and health systems to be on the search for RCM executives, like a VP of Revenue Cycle or a Chief Finance Officer.

The Qualities A CRM Leader Should Possess

Because the role of a revenue cycle management leader is so complex and moving toward a more executive level, a person in this position should possess certain personal and professional qualities, including:

  • A strong desire to succeed
  • Ambition
  • Accountability
  • Innovation
  • The ability to problem solve quickly
  • The capability to make important decisions and implement actions under pressure
  • Extraordinary communication skills
  • Resourcefulness
  • The ability to not only manage employees and departments, but the capacity to train and mentor others as well

The Skill Set Of A RCM Leader

In order to be successful in the role, a RCM executive should also possess a certain skill set and be knowledgeable about many different aspects of a health system. According to Becker’s, some of the important skills and knowledge a RCM executive must possess include:

  • Subject matter expertise in the realms of medical billing, collections, regulatory standards, and insurance
  • A proactive approach to dealing with insurance (including high deductible plans and managed care contracting) and the ability to anticipate the different problems that may arise with a patient’s coverage
  • An understanding of the complex patient registration process and the desire to improve it
  • A keen attention to detail to ensure all coding is accurate and submitted properly
  • Expertise with different health care billing, technology, IT, and any other systems necessary for the RCM role
  • Strong financial analysis skills
  • A deep understanding of financial management
  • Excellent leadership skills and the desire to train and educate others as well as enforce the new systems and protocols put into place
  • Strong communication skills and the ability to work and collaborate with other hospital employees and departments.

The Results A RCM Executive Should Produce

At the end of the day, in order to be successful, a revenue cycle management leader must produce specific results for a hospital or health system. These results include, but are not limited to the following:

  • Improvement of patient billing and collecting processes
  • Increased revenue and/or cash flow
  • Security of PHI and patient financial information
  • Improved accuracy of patient coding
  • Improved patient/customer satisfaction with financial services
  • Reduced operating cost
  • Increased productivity
  • Reduction of bad debt

Find The Right Person Today!

If you are struggling to find the right person to lead your revenue cycle management efforts, Nearterm can help. Give us a call at (281) 646-1330 or take our Interactive Survey.

Posted By: nearterm-admin

The Importance Of Clinical Documentation Improvement (CDI)

The Importance Of Clinical Documentation Improvement (CDI)

Clinical Documentation Improvement (CDI) is a vital health care initiative that all medical facilities should be fully implementing. Learn why Clinical Documentation Improvement is so important to your organization; how not fully implementing CDI can harm your health care facility; and how Nearterm’s medical support staff can assist you with your clinical documentation needs, so you can focus on what’s most important, your patients.

The Importance Of Clinical Documentation Improvement

According to The American Health Information Management Association (AHIMA), CDI is so important in the health care world because it has a direct impact on patient care.

CDI essentially helps “ensure that the events of the patient encounter are captured accurately and the electronic health record properly reflects the services that were provided.” So, it basically ensures that all members of a patient’s care team have the information necessary to properly treat the patient. Clinical Documentation Improvement also ensures that other physicians and/or nurses who treat the patient later down the road have the information they need to provide proper medical care as well.

How Not Leveraging CDI Can Harm Your Health Care Facility

CDI is not only important, but not fully implementing it can actually harm your facility in several ways.

Becker’s Hospital Review indicates that not using CDI can lead to many problems for your facility, including:

  • Improperly documented coding – This is a chain effect because it also leads to other issues, like claim denials and incomplete reimbursement for claims. And, incomplete reimbursement for claims can financially hurt your medical facility.
  • Miscommunication for other providers – Not having a CDI plan in place can harm patients in the long run because other health care providers tending to them won’t get the proper information they need to administer necessary treatment.
  • Fraud accusal – Submitting incorrect documentation of your patients can lead to your facility being accused of medical fraud.
  • Poor facility reputation – If patients don’t get the care they need and deserve, they may complain or post negative reviews of your facility. Additionally, lack of CDI can lead to improper reporting. And, nowadays, this kind of information is available online for the world to see.

And, most importantly, according to Becker’s, lack of CDI can ultimately negatively impact your quality of care.

Need CDI Support But Don’t Have The Right Resources?

Nearterm can help!

We are a medical staffing service and have a large talented pool of medical support staff, including renowned financial consultants, strategists, and healthcare revenue cycle management consultants that assist health care organizations, like yours, every day.

Our CDI staffing resources can help your facility:

  • Enhance medical data collection
  • Resolve documentation and coding conflicts
  • Maximize claim reimbursement
  • Increase revenues
  • Improve quality of care

Our services are also customizable, and we offer open-ended staff contracts. This means you can use our help for as long as you need it. Our support staff can work from 10 hours a week up to as many hours as you need them.

Find The Right Person Today!

If you are interested in learning more about our CDI support staff and how they can help your organization, give us a call at (281) 646-1330 or take our Interactive Survey.

Posted By: nearterm-admin

PCMH vs. ACO in Healthcare – Which is Best?


Many healthcare providers are facing the rising costs of providing medical care. These include drug, material, education, and other expenses.  At the same time, insurance costs for patients are also rapidly increasing.

Deciding how to provide medical care in the most efficient and cost-effective ways is becoming an increasingly complex healthcare management issue. In tandem with these problems is the impact of new technology on healthcare in a variety of ways. Interconnection of providers and standardization of communication methods is allowing for an increase in both transferability and accessibility of medical information and records.

The need for new models of healthcare has prompted a surge in alternative care models that are trending towards value-based approaches. These models can include coordination between healthcare providers to provide more comprehensive care. Two such models are ACOs and PCMHs discussed below.

What Is ACO in Healthcare?

What does ACO stand for in Healthcare? The Centers for Medicare & Medicaid Services (CMS) define Accountable Care Organizations (ACO) as health care providers, including hospitals and doctors, who agree to coordinate care to Medicare patients.

An organization that includes a wide range of providers can help in many ways such as cutting unnecessary costs and providing the right care at the right time for individual patients; balancing affordability with accountability. CMS encourages coordination and compliance with value-based care through the Medicare Shared Savings Program which offers “incentives for health care providers to work together to treat an individual patient across care settings, including doctor’s offices, hospital, and long-term care facilities.”

What Is the Goal of an Accountable Care Organization?

what does ACO stand for in healthcare?

An ACO, which can include many different providers, has the goals of providing the best quality service to patients at the best possible time. They also collaborate to avoid duplication of services, prevent medical errors, and reduce costs. Besides focusing on the value of care provided to a single patient, ACOs also focus on population health.

Some major organizations with many employees are forming or joining ACOs with healthcare providers to manage preventative care and help reduce healthcare costs to employees. Health information management consulting companies cite HIM via electronic data interchange (EDI) as an essential goal that can impact the quality of care between providers.

As part of the focus on cutting costs and offering efficient care, how providers are reimbursed is changing as well. ACOs also have a joint goal of qualifying for and meeting the standards for value-based care such as the Medicare Shared Savings Program.

Managing costs is a critical component of Revenue Cycle Management for any healthcare provider. Healthcare RCM firms like Nearterm can help you improve processes concerning these financial concerns.

What is a PCMH Provider in Healthcare?

What is a PCMH provider? A Patient-Centered Medical Home (PCMH) is a place and a way of organizing care that can involve coordinating between healthcare providers such as nurses, pharmacists, nutritionists, and social workers. These providers focus more on partnerships with individual patients and their families to provide high-quality care at affordable rates.

The focus on medical homes ranges from assisted living facilities, home health care, nursing homes and larger communities of various models. Since the concern is on patient-centered care, it can be thought of as a bottom-up approach to healthcare. For more information, reach out to the healthcare management consultants at Nearterm today.

What is the Goal of a Patient-Centered Medical Home?

Focusing on value-based patient care involves considering patient needs from the home up. This can include coordinating care between providers for basic and also special home healthcare needs. A key component of PCMH care is the relationship between the patient and accountable health care providers.

Accountable providers can be a primary physician or team of professionals with the joint goal of efficiently managing the patient’s healthcare and even social needs. PCMHs can provide accessible services quicker, offer enhanced personal care around the clock, and alternative methods of communication with providers. This also includes carefully managing evolving patient care such as transitioning from assisted living to more advanced care needs. Coordinating care also carries the potential of reducing costs and passing additional value on to the patients.


what is ACO in healthcare?

Patient-Centered Medical Homes and Accountable Care Organizations are not the same although they both focus on patient care by coordinating services between healthcare providers and can include long-term care. How they approach patient care is fundamentally different.

PCMHs are more centered on the individual patient with consideration to their living accommodations and end of life treatment. A PCMH can join or be a part of a larger Accountable Care Organization.

In contrast, ACOs coordinate services between providers to offer better services at reduced rates that include considering government reimbursement requirements. Their focus is not just on individual patient care but also population health management for larger areas.

To determine which option is the best choice for any provider involves considering many complex elements. Nearterm’s Healthcare Management Consultants will help you decide what factors to review and provide more information. Contact Nearterm today to learn more about how we can help improve your patient care through enhanced management coordination.


Posted By: nearterm-admin

Why Is Revenue Cycle Management Important in the Healthcare Industry?

what is revenue cycle management in healthcare?

Revenue Cycle Management (RCM) plays an important role in the healthcare industry. Managing revenue is vital for any business but may not be the primary focus of healthcare providers. However, these providers need revenue to pay for medical supplies, salaries, equipment, and more.

Healthcare costs are increasing with technology adoption in a time when an aging population is foreshadowing increased demand for care. Insurance and medical suppliers are placing an increased burden on patients and providers. Value-based healthcare payment models are also reshaping how providers can approach revenue cycle management.

What Is Revenue Cycle in Healthcare?

Revenue Cycle Management is how an organization handles the finances and processes associated with different steps of patient care from start to finish. It begins when a patient is first encountered or scheduled for an appointment and continues through the services provided to the billing afterward. Patient scheduling offers the opportunity to gather information vital to the claims process, such as insurance information, to verify eligibility.

The healthcare revenue cycle process includes coding medical services and billing insurance. Making sure that patients have eligible insurance on file can help in determining costs for various treatments. Faster and more accurate claims transmission allows for greater flexibility in arranging patient care.

After medical services have been provided, another key medical billing RCM process emerges. Managing past due patient accounts and accounts receivables impact the provider’s cash flow through collection times. The revenue cycle in healthcare also includes bad debt or managing uncollectible patient records. When patient accounts are up to date, the cycle continues with scheduling the patient’s next visit and perhaps even offering reminders.

What Is Revenue Cycle Management in Healthcare?

While there are variations between provider types and how the specifics are handled, medical revenue cycle management revolves around the finance and administrative side of the organization.

What is RCM in medical billing? This includes not just patient collection issues but also costs and efficiency of claims submission. These factors are also impacted by staff training.

revenue cycle management process in medical billing

Medical billing has been impacted by recent changes to healthcare models that now focus on value-based care. In addition to this, medical providers have also recently been required to transition to new diagnosis codes ICD10. For more information on understanding the hospital revenue cycle and for assistance with various related issues, consider Nearterm’s Healthcare Revenue Cycle Consulting.

Why Is Revenue Cycle Management Important in the Healthcare Industry?

There are many benefits to efficiently managing your revenue cycle. The overall goal is to increase revenue throughout the various processes by first identifying points of friction and then resolving them.

These problems may include fraud, waste, and abuse such as unnecessary tests and procedures. For some healthcare providers, revenue and finances are not the primary concern. Some may be more focused on patient care.

Problems and issues with an RCM process in healthcare can impact various other processes and take time away from patient care or medical training. The rapid pace of technological improvement has also greatly improved medical billing through electronic data interchange made available by healthcare clearinghouses and electronic claims submission. Technology has improved many other areas but also resulted in new security issues.

Medical revenue cycle management also includes medical records and how they are accessed and stored for billing purposes. Recently there has been an increase in attacks on medical organizations aimed at accessing medical records. These records and other personal health information (PHI) are protected by federal law such as the Health Insurance Portability and Accountability Act (HIPAA) Privacy and Security Rules.

Ensuring medical records are properly protected while processing financial information is a key concern that could potentially detract from patient care. This emphasizes the importance of health information management at your organization. Effective hospital revenue cycle management will include the security of PHI and patient financial information.

Finally, the RCM process in healthcare is important because it can be analyzed to find a process that can be automated safely leading to more time spent with the patient. For more information on why you should outsource your RCM administrative and financial needs contact the healthcare management consultants at Nearterm today!

Revenue Cycle Management Process in Medical Billing

why is revenue cycle management important in the healthcare industry?

The healthcare revenue cycle management process traditionally involved long delays between patient care and associated payment as claims submission was a lengthy process. This is the communication between healthcare providers and the patient’s insurance companies to negotiate payment for services as well as negotiating payment with patients.

What insurance will pay for is impacted by many factors including the patient’s specific plan and what diagnosis codes the provider submits. The medical billing RCM process involves preparing a claim and sending it the insurance. These days technology allows for rapid claim inputting and submission as well as automated “scrubbing” to ensure these claims meet basic requirements for acceptance.

Claims can be rejected for a wide range of problems ranging from a lack of information, improper coding, compatibility issues, and system errors. The number of claims that pass on their first attempt is a key metric to consider in the revenue cycle for medical billing. Multiple claims rejecting for the same errors could be caused by problems with the inputting process as a result of a lack of training. They may be resolved with the proper medical billing denial management process.

Electronic claims can allow for immediate approval for procedures and services from a patient’s insurance company. This can allow a provider to offer a range of services to the patient and increases the likelihood of receiving associated payments. Thus efficiently managing claims allows for greater flexibility in patient care concerning their finances and ability to pay. It also allows the potential for decreasing collection times on services which translates to increased cash flow and better Key Performance Indicator ratios.

On the extreme side of the revenue cycle is the issue of outstanding payments leading to bad debt. Managing the collections process is not always pleasant and will detract from providing valuable care to patients, especially to those in need. Some providers choose to write off the bad debt as a loss.

Efficiently managing RCM, at many different steps in the process, may help to decrease the number of cases that reach bad debt. One powerful solution to these issues is to contract with a third party Healthcare Revenue Cycle Management company. Nearterm’s Healthcare Management Consultants can offer experienced RCM consulting to help increase cash flow, lower bad debt expenses, improve patient satisfaction with financial services, as well as reduce operating costs and increase productivity.

Contact the Nearterm team oday for more information about how our services can make you more productive and profitable.


Posted By: nearterm-admin
Managed RCM