Insurer groups issue report showing the No Surprises Act’s early impact on patient billing
More than 2 million potential surprise medical bills were prevented during the first two months of the No Surprises Act, according to the health insurance lobby.
Cost Effectiveness of Health Report, May 2022
The May 2022 edition of HFMA’s Cost Effectiveness of Health Report includes a conversation with Lance Robertson, former U.S. Assistant Secretary for Aging at the U.S. Department of Health and Human Services Administration for Community Living, on practical ways the United States can begin to meaningfully address social determinants of health. Another article explores considerations for hospitals and health systems regarding the decision to pursue a “hospital at home” strategy, and a column shares perspectives and lessons learned from a 47-year active member of HFMA on the nation’s evolution toward value.
2022 healthcare trends driving change in patient financial engagement
Disruptive changes brought on by rising medical costs and increased patient cost sharing require an evolution in traditional patient billing and collection practices. Rapidly changing state and federal regulations, COVID-19, consumer behaviors and expectations, disrupters, technology and operational challenges impact healthcare in parallel.
Leveraging artificial intelligence to advance organizational strategy
When bringing artificial intelligence into their business models, health systems have the opportunity to improve revenue cycle management by maximizing efficiencies. With the potential to improve workflow and consolidate resources, automation and machine learning require organizations to examine their infrastructure, from staffing to datasets. Investing in automated processes to reduce variation and empower staff to…
The financial crunch of the pandemic is unlikely to subside anytime soon for hospitals
A leading credit-rating agency says the not-for-profit hospital sector will face significant headwinds for the rest of this year and beyond.
Digestive diseases led increase in treatment costs over the last two decades, analysis finds
A new study quantifies the extent to which treating disease has become increasingly expensive since just before the turn of the century.
News Briefs: Hospital labor costs rose by almost 40% between 2019 and early 2022
As published in hfm magazine, a monthly roundup of top news for healthcare finance professionals.
No Surprises Act
As a result of the 2021 Consolidated Appropriations Act, several No Surprise Billing Act regulations will go into effect on Jan. 1, 2022 for providers, facilities and air ambulance services. These requirements include prohibitions on balance billing for certain items and services, consumer notification and consent requirements for insured patients, cost sharing rules and disclosures, and uninsured/self-pay good faith estimate requirements for scheduled or shoppable items and services.
Hospitalists are more likely than other physicians to choose high-intensity codes for inpatient care, study finds
The billing and coding practices of hospitalists may contribute to the rising cost of hospital care in the U.S., according to conclusions of a new study.
Some Medicare payments to hospitals for bariatric surgery may be inappropriate, OIG finds
Medicare could have saved nearly $48 million in bariatric surgery payments to hospitals during an 18-month period if coverage rules and guidance were better implemented at the contractor level, according to the HHS Office of Inspector General.