The 2018 Healthcare Revenue Cycle Conference held in Charlotte, North Carolina this year will be jam-packed with industry leaders, workshops, and valuable insights into the latest developments regarding the revenue cycle management industry. As medical billing and coding professionals, it is our duty to keep a pulse on the latest hot-button issues, industry trends, and new technology to continue bringing cutting-edge value to our clients.
Revenue Cycle Management is very important to the financial stability of healthcare practices. It bridges the gap between providing valuable healthcare services and handling the business side of providing that service. Revenue Cycle Management utilizes a complex network of Health IT systems, communication with patients and payers, and internet-based billing procedures to manage the cycle of healthcare from the initial patient visit to getting paid. Over the years, there have been many new developments in Revenue Cycle Management such as the way we access information, how data is stored, how bills are paid, communicating with patients, handling insurance claims, and many other facets involved in running a healthcare practice. One of the best ways to keep up with these important trends is to attend conferences such as this year’s Healthcare Revenue Cycle Conference taking place in mid-September. We’re excited to take part in this important event and here are some of the great sessions we’re looking forward to.
Hitting the ground running on the very first day, Dan Mingle, MD, Founder and CEO, Mingle Analytics and Kelly Whittle, Founder and CEO, Whittle Advisors will share the newest trends regarding the MACRA regulation including techniques on how to succeed with MIPS and the Quality Payment Program introduced under MACRA. Mingle’s overview of MIPS will include new 2018 requirements, measure selection, data requirements, and the importance of measure performance monitoring. Additionally, he’ll highlight ways to handle reporting with the MIPS program and how RCM companies like us can help our customers unlock data to analyze practice performance and improve MIPS scores. Ultimately, this session will give us a strong foundation to help our customers transition from claims-based reporting to a more value-based framework and to clearly communicate the new payment reform strategy laid out in the MACRA regulation.
Following up this powerful session, Ted Stack, Managing Director, Falcon Capital Partners LLC, will deliver a helpful lecture on creating value in our RCM service that will transfer on to our clients. In this session Stack will discuss how creating value in our business is critical for our customers given the fact that the healthcare market continues to evolve each year with constantly changing consequences on the billing service providers. As we continue to follow these trends, we will be able to identify areas for improvement and ways we can further maximize the bottom line for our clients.
One of the key developments in the Revenue Cycle Management Industry is Robotic Process Automation (RPA).In recent years, new technology has developed that can further streamline the process of collecting money in less time and at less cost. John Fundingsland, VP and GM Healthcare Operations, Hexaware Healthcare Technologies, and Dan Hillman, VP Revenue Cycle Strategy, Hexaware Healthcare Technologies will discuss in detail how RPA has impacted Revenue Cycle Management processes and how we can incorporate some of these practices into our programs so we can pass along those savings to our clients.
Another session we’re looking forward to is Five Strategies Critical to Achieve Payment Assurance Through Patient Engagement, provided on the Operations Track. This session will help us identify ways we can engage with the patient before, during, and after the visit to assure payments are being made at a fast pace. What’s interesting about this session is that these strategies were put in place to combat the recent explosion of patients visiting doctors’ offices, yet still owing a balance for previous visits long after the service was completed. This can cause significant damage on cash flow and overall daily office management. This session will help uncover opportunities for improvement in billing services while also reducing overhead costs and ensuring providers get paid. This is a big goal we strive to meet for our clients on a daily basis.
These are just a few of the sessions we’re looking forward to attending, but there are many more! Not to mention that this year, the conference is held in Charlotte, North Carolina, home of the Hornets! We’re excited to explore the Queen City as we dive deeper into one of the most important facets of our industry. There are so many new facets and areas to learn about when it comes to Revenue Cycle Management and a great place to dive in head first will be the 2018 Healthcare Revenue Cycle Conference.