Tips on Improving the Revenue Cycle in Healthcare

Running a medical clinic or a doctor’s office involves the ideal balance between financial and healthcare concerns. While the number one focus must be on ensuring that patients receive ideal care, clinics must also consider how much money they bring in every quarter.

Providers may need to focus on their ABA billing procedures when running a practice involving behavioral analysis or therapy. If your clinic is not bringing in consistent revenue, despite having a lot of patients, there may be an issue with how you are operating.

Improving the revenue cycle in healthcare is not straightforward. No single method or strategy can deliver a significant boost to your revenue while not incurring additional expenses. 

The most sustainable way to improve the revenue cycle in healthcare is to follow a series of practices, such as the ones we have outlined below.

Update Patients on Billing

How can a patient submit payment for a therapy session if they are unaware of how medical billing works? Whether your clinic sees patients with specific insurances or even caters to uninsured patients, updating people on billing methods and practices is so important.

Consider educating patients on medical billing as a method of bad debt avoidance. If your staff can communicate with a patient about when they will receive a bill and how much they will have to pay, patients will be ready to pay that bill in the coming weeks.

Patients should be educated on the costs of regular appointments and/or special visits ahead of time. There should be no surprises for someone when they open a medical bill, as everything listed on the document should have already been communicated to them.

Invest In Your Staff

Having a high-quality group of staff, such as PSRs and medical assistants, can make all the difference when it comes to ABA billing and related matters. Investing in your staff means providing them with onboarding and annual training to keep them up to speed on the latest practices related to healthcare billing. If your staff understands how an advanced behavioral analysis-related practice must bill its patients to maintain its revenue cycle, they can better communicate the relevant information to your patients.

Aside from continuous training for staff, practices should also ensure they have a healthy number of people on the floor each day. Suppose you have very few staff members who are overworked and being pulled in different directions. In that case, they are unlikely to have the time or mental energy to have lengthy billing conversations with patients before or after their appointments.

Offer Patients a Variety of Payment Options

Every clinic must accept it will be catering to a different category of patients, especially where billing and insurance are concerned. If your practice is popular enough only to accept specific insurances, then you are already in an ideal situation.

Those practices that must branch out to less desirable insurance policies or uninsured patients must get creative. Offering patients a variety of payment options ensures they are much more likely to promptly and fully pay for the services they are receiving.

One of the strategies is to work with third-party payers. There are lenders and financial institutions that offer healthcare-specific credit cards, allowing patients to pay their medical bills onto the card and then pay off the balance in equal monthly installments over 6, 12, or 24 months with 0% interest.

Leveraging such payment options allows a healthcare practice to assist those patients that may struggle with timely payments. Rather than a patient struggling to pay their bill, they can use a credit card or medical loan, ensuring their monthly payments are manageable. By offering a range of payment methods, your clinic will have far fewer “problem patients” from a financial perspective.

Ensure Patients Are Receiving Timely Care

A patient contributes to the revenue cycle of your clinic by being seen regularly and frequently. Many healthcare practices make critical errors when assessing their patient numbers. They look at consolidated lists of how many patients have seen their clinic’s primary care provider or specialist within the past few years. Such information is useful, but not when it comes to your clinic’s revenue cycle.

When assessing patient data, a clinic should see how many patients are seen every quarter. They should also determine how many times a year each patient has an appointment in the clinic. If there are patients with only a single appointment in a year or none at all, they require attention.

Having staff proactively reach out to patients for follow-up therapy sessions or periodic consultations is a great way to boost your clinic’s finances. Such an action from your staff also helps patients by allowing them to visit with their therapist more frequently.

Focus On Reducing Denied Claims

One of the biggest impediments to a hospital’s revenue cycle is denied claims. These occur when a payer “denies” the claim that’s submitted by the healthcare provider due to a number of reasons. However, one of the most common reasons for claim denials is sending the claim against the wrong patient’s information. For instance, Jenny had her tonsillectomy done successfully – all that’s waiting is to submit the claim to her insurer. However, instead of using her medical record, the healthcare provider used Jennifer’s EHR and sent it to the payer. Upon inspection, the payer will find that Jennifer isn’t the one who was operated on and will reject the claim.

To reduce denied claims, healthcare providers are using touchless biometric patient identification platforms like RightPatient. RightPatient ensures that the appropriate EHR is provided using patient photos. Whenever a patient looks at the camera, the platform runs a biometric search and provides the accurate EHR – helping reduce denied claims. 

Medical facilities must prioritize patient safety. It is critical to ensure that patients receive the best possible treatment and are kept safe during their stay. To create a safe and secure environment for patients and staff, medical facilities must take proactive steps to reduce the risk of injury or illness. In this blog post, we’ll discuss 10 tips to help enhance patient safety in medical facilities.

Implementing a No-Tolerance Policy for Medication Errors

It’s essential to establish and maintain a no-tolerance policy for medication errors. This can help avoid future incidents and ensure errors are not made again.

To create a no-tolerance policy, the medical facility should start by establishing clear protocols for reporting and responding to medication errors. All employees must be informed of the procedure and the consequences of not following it. Depending on how serious the mistake was, disciplinary action can be taken, such as suspension or dismissal.

The medical facility should also ensure that staff members have access to the right resources when dispensing medications. This includes ensuring that they have accurate drug information, including dose information and contraindications. In addition, they should have appropriate training on medication safety and access to a pharmacist who can answer any questions they may have. 

Hire Qualified Public Health Professionals

By hiring qualified public health professionals, medical facilities can be sure that their patients are receiving the best care possible. Having an experienced public health professional onboard will enable the facility to respond to the various needs of its patients more effectively.

To achieve this goal, medical facilities should seek out individuals with an accredited master’s degree in public health (MPH). There are many online accredited MPH programs available, including the Online Master of Public Health in Community Health Sciences offered by Tulane University. Professionals with an accredited MPH will be better equipped to identify and address potential safety issues in a medical facility and implement the necessary changes to ensure safety protocols are followed.

Conducting Regular Risk Assessments

Regular risk assessments are a vital part of patient safety in medical facilities. Risk assessments help to identify areas where safety may be compromised and allow facilities to take the necessary steps to address these issues before they become a problem. By conducting regular risk assessments, medical facilities can stay ahead of potential risks and protect their patients from harm.

The risk assessment process should include all staff members and involve evaluating every aspect of the facility’s operations. It is important to pay attention to any changes made since the last assessment and note any new risks that may have arisen. All aspects of the facility, such as its physical layout, processes, equipment, and safety protocols, should be considered during the assessment.

The results of the risk assessment should be documented and shared with all staff members. Once the risks have been identified, they should be addressed promptly to ensure that they do not become a problem in the future. 

Address Your Patients’ Physical Needs

Medical facilities must ensure that their patient’s physical needs are being met to ensure patient safety.

• Medical facilities should ensure adequate staffing to meet the needs of the patient population. This includes registered nurses, nurse practitioners, physicians, and other healthcare providers. It also means having sufficient resources and equipment to provide the necessary care for each patient.
• In addition, medical facilities should ensure that their environment is clean and safe. This includes maintaining high standards of hygiene and sanitization, as well as appropriate maintenance and security measures. Medical facilities should also be aware of any potential environmental hazards that may affect their patients’ health and safety.
• Medical facilities should strive to provide care that is tailored to the individual needs of their patients. This includes taking into account their age, gender, cultural background, and any other special circumstances. 

Implementing New Technologies

New technologies offer exciting opportunities for medical facilities to improve patient safety and enhance the quality of care. By utilizing advanced systems, facilities can monitor vital signs, track medications, and monitor infection rates in real-time. 

Some examples of new technologies that medical facilities can consider implementing include Electronic Health Records (EHRs). EHRs allow clinicians to access and share patient data quickly and securely, use bedside barcode scanners to reduce the risk of medication errors, and establish patient portals, enabling patients to access their medical information remotely. Other technologies, such as predictive analytics and machine learning, can help predict future risks, enabling the facility to take preemptive steps. 

Several healthcare providers are improving patient safety with the help of touchless biometric patient identification platforms like RightPatient. With RightPatient, healthcare providers can ensure that the accurate EHR is used after identifying the patient properly – preventing patient mixups, ensuring patient data integrity, and improving healthcare outcomes.  

Enhancing Communication Between Staff Members

Good communication between staff members is essential for ensuring patient safety. Medical facilities should take steps to ensure that their staff can communicate effectively to provide the best possible care.

One way to enhance communication between staff is to have regular meetings to discuss patient care and safety. Staff members can discuss their issues and come up with solutions at these meetings. Additionally, the staff should be encouraged to express any questions or concerns they may have regarding safety.

Follow Proper Handwashing Procedures

Handwashing helps to prevent the spread of germs and infections from one patient to another. Handwashing must be performed correctly and regularly. Medical facilities should have policies in place that clearly outline proper handwashing procedures and ensure that all staff members are trained and adhere to them.

Healthcare professionals should use soap, warm water, and a 20-second hand wash to clean their hands properly. It’s important to cover all surfaces of the hands, including the fingernails, wrists, and in between the fingers. Additionally, they should rinse off all the soap before drying with a single-use paper towel.

Medical facilities should also provide hand sanitizer with at least 60% alcohol content in all patient care areas so that staff can quickly disinfect their hands in between patients or whenever washing hands isn’t an option.

Conclusion 

Patient safety is an important component of successful healthcare. Medical facilities must ensure their procedures are in place to prevent patient harm and reduce the risk of medical errors. The measures mentioned above will help medical facilities save lives, build trust with their patients, and develop lasting relationships. 

Moreover, medical facilities should strive to continuously improve existing protocols to ensure patient safety remains a priority. To remain competitive in today’s market, medical facilities should prioritize patient safety and put measures into action that will help them achieve this goal.

Hospitals have advanced substantially over the last several decades. In particular, computer systems have streamlined a great many processes and made many hospital functions — such as data-driven decision-making — more convenient for medical professionals and staff. Unfortunately, this increase in convenience has also come with a substantial number of new risks and threats. 

Since hospitals have integrated computer systems into their operations, they’ve become a common target of cybercriminals, and many have become frequent victims of cyberattacks. Specifically, ransomware attacks have become increasingly common in the healthcare space. Understanding the reasons why these attacks have become prevalent in hospitals can give one a deeper understanding of cybercrime, healthcare, and cybersecurity. 

Here is why ransomware scenarios commonly occur at hospitals. 

What Is a Ransomware Attack?

Ransomware attacks are a common form of cybercrime that involves holding an individual or organization’s information for ransom. Typically, the cybercriminal doing the attack will either threaten to release private information to the public or keep the victim locked out of their computer network unless given a ransom, which is typically a sum of money. 

Why Hospitals Are Frequent Victims of Cyberattacks

While many organizations fall victim to cyberattacks, hospitals are particularly vulnerable to this form of cybercrime. Understanding the reasons for this is essential to understanding why cybersecurity is so important in the healthcare space. 

Here is why hospitals are frequent victims of cyberattacks. 

Large Amounts of Patient Information

One of the main reasons that hospitals are a common target for ransomware attacks is that their computer systems typically store large amounts of patient data. This can include private information such as patients’ social security numbers, financial information, medical information, and more. 

Given the private nature of this information, hospitals are typically more willing to pay ransoms to have this information stay private. For cybercriminals, this makes hospitals a prime target for schemes of this nature, and they often prey on hospitals with weak cybersecurity measures for this reason. 

The Vulnerability of Legacy Systems in Hospitals

Over the last two decades, computer technology has advanced substantially. Unfortunately for many hospitals, this means that the computer systems they may have installed in the 2000s have likely become outdated. These legacy systems are typically incredibly vulnerable to cyberattacks and have a number of weaknesses that can be exploited by cybercriminals to gain access. 

While hospitals may want to update or upgrade their systems, this can be a difficult task. The process of replacing a hospital’s computer system is both comprehensive and expensive. This has left many hospitals vulnerable to ransomware attacks that make the private information of patients more accessible to cybercriminals. 

Third-Party Vendors

For many hospitals, working with third-party vendors is a necessary aspect of operating. These third-party vendors can be organizations like PPE suppliers and health insurance companies. Though hospitals need the help of these organizations to operate, it can also make them vulnerable to a variety of cyberattacks. 

Oftentimes, third-party vendors will have access to the computer system of the hospitals they serve. Unfortunately, this means that if a third-party vendor is hacked, the hackers can gain access to a hospital’s network as well. This being the case, many hospitals have begun to limit the access that third-party vendors have to their networks in order to minimize the risk of being hacked. 

Ransomware Attacks Impact Patients

When a hospital becomes the victim of a ransomware attack, it can have a drastic effect on patients. Given the chaos of being locked out of their computer system, hospitals typically aren’t able to serve patients efficiently or at all until the matter is resolved. 

Knowing that hospitals will be pressured to succumb to their demands to meet patient needs, cybercriminals often target these types of organizations. This willingness to comply with cyber criminals in order to minimize the effect on patient outcomes makes hospitals a great target for cybercriminals looking to strongarm an organization into quickly paying a ransom. 

Preventing Ransomware Attacks

Though hospitals may be at a greater risk of being the victim of ransomware attacks than other organizations, some measures can be taken to mitigate their risk of becoming a victim of this type of attack. By being proactive and implementing robust defense measures, hospitals can increase their chances of thwarting the attempts of cybercriminals and keeping their data safe. 

Here are some measures that hospitals can take to prevent ransomware attacks. 

Update Computer Systems

Though it may be a complicated and expensive undertaking, updating computer networks in hospitals can ultimately save them money if it keeps them from being the victim of a ransomware attack. Newer computer systems have more robust cybersecurity measures and can be updated regularly while many legacy systems can’t. 

Given the substantial increase in security that new computer systems offer, along with the vulnerability of legacy systems, installing new computer systems is becoming a requisite for hospitals intent on safeguarding themselves from ransomware attacks. 

Limit Third-Party Vendor Access

As has been noted, third-party vendors pose a huge risk to hospitals when given full access to computer systems. This being the case, limiting the access that third-party vendors have can greatly bolster a hospital’s defenses. By not allowing these entities to have access to their computer systems, hospitals can rest assured that if these organizations’ networks are compromised, they won’t be at risk of being compromised as well. 

Educate and Train Hospital Employees

While hospitals may spend a substantial amount of money crafting robust cybersecurity measures, these can be in vain if employees are being frivolous. As such, it’s important for hospitals to educate and train employees who have access to their computers on how to utilize them responsibly. 

By ensuring that all employees are aware of cyber threats and the practices that can leave an organization vulnerable to attacks, hospitals can rest assured that they aren’t inadvertently weakening their cybersecurity efforts. 

Hospitals Should Prioritize Cybersecurity

Ransomware attacks have become dishearteningly common among healthcare organizations. Given this significant risk, it’s vital that all hospitals put effort and resources into bolstering cybersecurity measures in many different ways. 

The more robust cybersecurity efforts become in the healthcare space, the more cybercriminals will be deterred from attempting to hold the private information of healthcare organizations at ransom. 

Providing quality patient care is the foundation of every hospital and healthcare facility. When a hospital works with a patient-centric approach, they end up engaging with their patients by learning about their experiences. The patients are content when they see their input and individuality being acknowledged.

Healthcare workers who value their patients’ well-being above everything else work towards using treatment practices that prioritize the quality of actions over quantity. Every effort they make to care for their patients leads to positive results. These may include treatments that have lasting effects, fewer patients having to check into the hospital, and satisfied patients who are happy with the care and attention they received while at the facility.

The perspective patients form about the health care facility is primarily attributed to the hospital’s success and reputation in the area. This is why it is of utmost importance to design care and treatments that cater to the patients and all their needs. A healthcare facility should be equipped with all the materials and equipment needed to treat patients. The same goes for the staff. You need to have qualified staff and personnel to provide care for the patients who are admitted to your facility. Thankfully, many passionate young individuals are switching careers to the medical side with the introduction of online second degree accelerated BSN programs. This way, you can find and hire the right people who could become a part of your team and add to the overall reputation of your healthcare facility.

Here is a list of ways your hospital or another medical facility can improve patient care practices.

Use the best available equipment and technology

People who work at hospitals make several prompt decisions related to patient care. This continuous need to be quick and vigilant means it’s crucial for a healthcare facility to have the latest equipment, machines, and tools for treatment and diagnosis. This also includes using the latest technology for maintaining patients’ records. Several US healthcare providers are using biometric patient identification platforms like RightPatient to prevent patient data mix-ups and ensure that the right EHRs are used by physicians. 

Incorrect diagnoses are a sign of incapability but can also prove to be hazardous and, in some cases, fatal. When you have the required equipment for treating your patients, you end up winning the trust and acknowledgment of your patients. Your hospital will be known for its responsible ways of providing treatment and care.

Practice Communication that is Efficient and Transparent

Every healthcare worker should possess the right communication skills. They should be clear in their words and compassionate in how they talk. That’s because, in today’s age, patients play an active and vital role in their treatment process. 

Healthcare workers should aim to state the science behind the treatment and the possible experience that a patient will have in the simplest way possible. They shouldn’t make assumptions or have a patronizing tone. Use the language best suited to a particular situation, which is only possible when a healthcare worker has conversations with the patient. This way, you also answer any questions they may have and can gauge their understanding of a treatment or procedure.

When there’s a productive level of communication amongst the staff members, the entire team works more efficiently and well. There’s little chance of mistakes, improper diagnosis, and no gaps in the information.

Work With Patient Advocates

Apart from effective communication among the staff and other related personnel of the hospital, it’s also imperative to bring in patient advocates to a medical team. This can lead to a better understanding of the patient’s needs, feelings, and preferences by the entire team.

These advocates can either be in-house hospital staff or outsourced from a third-party agency. Patient advocates are a means of support to patients during their treatment. They listen to them, comfort them, encourage them and facilitate a conversation with professionals who can further help them along the way.

Since they play a guiding role in these patients’ journeys, patient advocates can bond and connect with patients in a way that other members of the hospital’s team are unable to do. This often results in an in-depth insight into the patient’s mind and can help design an effective treatment plan. 

Follow Up After Treatment

It should be known that a hospital’s care for their patient doesn’t end when the patient pays their bills and walks out of the hospital. There are times when it is necessary for patients to actively participate in programs offered by other facilities or even in the comfort of their own homes. These can be physical therapy or some form of rehabilitation. This is done to stop a situation from getting out of hand in the near future and ensure that the treatment has lasting effects.

Hospitals and other healthcare-providing facilities should continue to maintain relationships with their patients. They can do this through follow-up appointments, where a healthcare provider from the team can pay a visit to the patient’s residence and analyze the treatment plan by addressing any concerns they may have about their health. Patients may also seek advice, helpful tips, reminders, or any necessary guidance regarding their overall health.

The most valuable aspect of any treatment is information. That’s what a patient needs the most, regardless of where treatment might lead. There’s no way to be sure about whether a patient will attend any further appointments in the future, even if a healthcare worker recommends it to them. So, when a patient is discharged, all facilities should provide patients with helpful information. This includes everything about their condition, the treatment, and what might happen in the future. This way, the patient has all the information they need to make a decision for themselves. With the information they have, they can either get readmitted to the hospital, consult with another doctor or facility, or not do anything about their condition.

Conclusion

Running a hospital or any other healthcare facility is not easy. It requires a lot of attention to detail, precision, the right resources, and working with an objective to provide the best possible health care to your patients. The entire team should share this objective, from the chief medical officer and senior surgeons to the cleaners and other support staff. Patients place a lot of trust in a hospital when choosing one for their treatment and their loved ones. It is only fair that they receive the best care in return for their trust.