* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, June 1, 2025
Earth-News
  • Home
  • Business
  • Entertainment

    Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Mavs CEO holds firm on new arena, entertainment district in Dallas – Dallas News

    Mavs CEO Stands Strong on Vision for New Arena and Entertainment District in Dallas

    Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

    Get Ready to Race: The Ultimate Beer Run Experience Awaits!

    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

    HYBE Cashes In: Offloads Final Stake in K-Pop Rival SM Entertainment for $177 Million!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Bajeed Pattan Joins Forbes Technology Council as Innovation Leader – PRWeb

    Bajeed Pattan Takes the Helm as Innovation Leader at Forbes Technology Council!

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Drone technology demo in Cambria County showcases future of lifesaving medical deliveries – local21news.com

    Revolutionizing Healthcare: Drone Technology Takes Flight for Lifesaving Medical Deliveries in Cambria County

    Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

    Stop the Machines: The Rise of Anti-Technology Extremism – International Centre for Counter-Terrorism – ICCT

    Unplugged: The Surge of Anti-Technology Extremism

    Finland to head EU’s quantum defense technology project – Latest news from Azerbaijan

    Finland Takes the Lead in Pioneering EU’s Quantum Defense Technology Initiative!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment

    Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Mavs CEO holds firm on new arena, entertainment district in Dallas – Dallas News

    Mavs CEO Stands Strong on Vision for New Arena and Entertainment District in Dallas

    Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

    Get Ready to Race: The Ultimate Beer Run Experience Awaits!

    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

    HYBE Cashes In: Offloads Final Stake in K-Pop Rival SM Entertainment for $177 Million!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Bajeed Pattan Joins Forbes Technology Council as Innovation Leader – PRWeb

    Bajeed Pattan Takes the Helm as Innovation Leader at Forbes Technology Council!

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Drone technology demo in Cambria County showcases future of lifesaving medical deliveries – local21news.com

    Revolutionizing Healthcare: Drone Technology Takes Flight for Lifesaving Medical Deliveries in Cambria County

    Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

    Stop the Machines: The Rise of Anti-Technology Extremism – International Centre for Counter-Terrorism – ICCT

    Unplugged: The Surge of Anti-Technology Extremism

    Finland to head EU’s quantum defense technology project – Latest news from Azerbaijan

    Finland Takes the Lead in Pioneering EU’s Quantum Defense Technology Initiative!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Health

Finance execs talk claim denials, looming recession at HFMA conference

June 30, 2023
in Health
Finance execs talk claim denials, looming recession at HFMA conference
Share on FacebookShare on Twitter

Executives at the Healthcare Financial Management Association conference expressed serious concern that worsening economic conditions, an uptick in health insurance claim denials and the complexity of managing multiple vendors are impeding the hospital sector’s prospects.

Health system chief financial officers and others focused on money matters gathered at the four-day event in Nashville, Tennessee, to share insights over those challenges and about the potential of new payment models and technologies to boost business.

Claims denials

The top issue for health system finance leaders was why insurers deny claims.

Covenant Health, an integrated health system based in Knoxville, Tennessee, is building a tool to track denials and identify trends in insurers’ medical policies. This will allow the company to optimize patient records and reimbursement coding to reduce denial rates, said Bob Stearnes, director of patient accounting.

Novant Health, a Winston-Salem, North Carolina-based nonprofit system, uses ChatGPT to analyze insurance rules and compare them to accounts receivable. This process, combined with analyses of medical records, helps the company identify areas where it is missing out on reimbursement and determine the causes, said April York, vice president of patient financial services and revenue cycle innovation. The tool also helps clinicians to sumbit claims and appeals more efficiently and the health system to improve coding and win more appeals, she said.

Vendor management

As healthcare organizations continue to lean heavily on vendors for technology, social services and administration, finance executives are centralizing and streamlining operations and contractual relationships to reduce costs.

Vanderbilt University Medical Center in Nashville hired a contractor to manage its vendors because it lacked the infrastructure to gauge the productivity of its outsourcing. As a result, the teaching hospital was overspending, said Heather Dunn, vice president and chief revenue cycle officer. By outsourcing vendor management and contract negotiations, Vanderbilt is able to better track return on investment, she said.

Similarly, NorthShore-Edward-Elmhurst Health in Illinois centralized its vendor management as it expanded, resulting in significant savings and quality improvement, said Gregory Arnold, senior vice president of system revenue cycle.

NorthShore University Health System of Evanston and Naperville-based Edward-Elmhurst Health merged last year to create a chain with more than $5 billion in annual revenue. The company has a single team overseeing vendor relationships, allowing leaders to leverage the health system’s scale for better pricing and to track progress internally, Arnold said.

Recession worries

Amid economic uncertainty, health system finance executives said they are preparing the best they can for what might lie ahead.

HCA Healthcare Chief Financial Officer William Rutherford said the Nashville-based for-profit health system hired consultants to study how previous downturns affected business. Leaders are looking at how HCA and other companies successfully responded to past economic challenges to inform how the company could navigate a recession. HCA conducted similar exercises in 2019 concerning major policy reform proposals, including a possible repeal of the Affordable Care Act, he said.

“We have to be data-driven in how we’re assessing the environment and how we’re thinking about the impact on the organization,” Rutherford said. “Preparation, planning and communication are all critical.”

Richard Silveira, chief financial officer of Massachusetts-based Cape Cod Healthcare, anticipates reduced funding from government programs in the future, primarily due to large-scale disenrollments of Medicaid beneficiaries during eligibility redeterminations.

Coupled with inflation, the health system may have to cut costs and leverage its scale to negotiate discounted rates with vendors, he said.

Thomas Arnold, chief financial officer at Piedmont Healthcare, an Atlanta-based nonprofit system, said he believes a recession may alleviate labor market pressure for hospitals and reduce workforce costs.

Alternative payment models

Finance executives also discussed strategies for deploying alternative payment models and increasing profitability through value-based care.

Vanderbilt University Medical Center recently introduced a bundled-payment program for substance use disorder, adding to programs for maternal health, weight loss, spine surgery and orthopedic care. These models offer comprehensive care coordination and wraparound services, allowing the hospital to take on more risk while gaining market share, said Dr. C.J. Stimson, chief medical officer for employee health plans and senior vice president of value transformation.

Corewell Health, a nonprofit integrated health system based in Grand Rapids, Michigan, is also exploring alternative payment options and has developed an internal process to identify high-risk patients for better care management, chief financial officer Matthew Cox said. For example, if a high-risk patient being treated under value-based care gets a flat tire on their way to a medical appointment, Corewell will pay for alternative transportation or repairs, he said. “We treat those patients very differently because we own the total cost of care,” he said.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Modern Healthcare – https://www.modernhealthcare.com/finance/hfma-2023-nashville-claim-denials-recession

Tags: ExecsFinancehealth
Previous Post

Healthcare industry reacts to affirmative action ruling

Next Post

FTC likely to scrutinize Optum-Amedisys deal: analysts

Little Rock economy growing faster than other similarly-sized cities, study shows – thv11.com

Little Rock’s Economy Outpaces Peers: A Promising Growth Story!

June 1, 2025

Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

June 1, 2025
Why Gen Z Will Demand Crypto-Enabled Health Systems – Forbes

How Gen Z is Shaping the Future of Crypto-Enabled Health Systems

June 1, 2025
State Sen. Skoufis declares war on en­ter­tainment ticketing practices in closing days of session – Spectrum News

State Senator Skoufis Takes a Stand Against Unfair Ticketing Practices in Final Session Push!

June 1, 2025
Bajeed Pattan Joins Forbes Technology Council as Innovation Leader – PRWeb

Bajeed Pattan Takes the Helm as Innovation Leader at Forbes Technology Council!

June 1, 2025
With college sports in limbo and key issues coming to a head, the spotlight is on the SEC: ‘It’s going to get heated’ – Yahoo Sports

SEC Showdown: Tensions Rise as College Sports Face Uncertain Future

June 1, 2025
Upgrades coming to ecological park in Sunbury – WNEP

Upgrades coming to ecological park in Sunbury – WNEP

June 1, 2025
This will ‘devastate scientific research’: 16 states sue the Trump administration over National Science Foundation directive – CNN

This will ‘devastate scientific research’: 16 states sue the Trump administration over National Science Foundation directive – CNN

June 1, 2025
Trump’s new ‘gold standard’ rule will destroy American science as we know it | Colette Delawalla – The Guardian

Trump’s Controversial ‘Gold Standard’ Rule: A Threat to the Future of American Science

June 1, 2025
The month of pride – financialexpress.com

Celebrating Pride: A Month of Love, Acceptance, and Empowerment

June 1, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (655)
  • Economy (671)
  • Entertainment (21,577)
  • General (15,254)
  • Health (9,713)
  • Lifestyle (672)
  • News (22,149)
  • People (671)
  • Politics (679)
  • Science (15,891)
  • Sports (21,175)
  • Technology (15,658)
  • World (658)

Recent News

Little Rock economy growing faster than other similarly-sized cities, study shows – thv11.com

Little Rock’s Economy Outpaces Peers: A Promising Growth Story!

June 1, 2025

Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

June 1, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version