Cycle Up

Recently, the Credit Reporting Bureaus Experian, TransUnion and Equifax announced a joint initiative that will significantly change credit reporting standards and rules regarding all medical debt collection data. The Meduit Compliance team wants to ensure that our clients understand the potential impact and timing of the announced changes.

The chart below, issued by the bureaus, breaks down the current changes and the effective dates of each item. All notices have advised that additional communications outlining the steps required for compliance will be forthcoming. Meduit’s Compliance team is diligently working with our operations team to update our internal policies and procedures in light of the changes as well as assessing the impact of these changes on future collections. Our team will keep our clients closely advised on all fronts.

Artificial intelligence (AI) has been touted as the answer to driving financial recovery from COVID-19 and accelerating revenue for hospitals, health systems and providers. Has AI lived up to its hype?

In order to determine the actual impact of AI, we took a deeper look and analyzed measurable results in a new white paper, Artificial Intelligence Delivers Support for Staffing Issues and Revenue Acceleration.

The case study features Bronson Healthcare System in the upper Midwest. When the organization struggled with staffing and resource challenges due to the impact of COVID-19, they partnered with MeduitAI™ to engage support for staffing shortages, solve specific revenue cycle management (RCM) problems and accelerate account resolution.

By automating repetitive tasks, reducing human error and working around the clock, MeduitAI technology drove revenue and freed up the system’s RCM staff to focus on more complex problems.

Download your copy of Artificial Intelligence Delivers Support for Staffing Issues and Revenue Acceleration.

Healthcare providers’ revenue reporting processes correctly report most of net revenue. However, missed value from niche, high-value areas such as Medicare Bad Debt (MBD) often go uncollected and unreported..

With the right strategies in place, missing revenues from MBD can be successfully recovered. Consider leveraging the following:

Mountain Park Health Center (MPHC), a large, nonprofit community health center in Arizona providing care to nearly 90,000 residents of Goodyear, Tempe and Phoenix, partnered with Meduit to drive financial recovery from the impact of two years of COVID-19. To solve this issue and ensure a healthy revenue cycle, Meduit and MPHC leveraged MedComplete – Meduit’s total RCM solution that optimizes account resolution, increases revenue and minimizes costs.

Through MedComplete’s billing expertise, MPHC accelerated cash flow while other similar organizations struggled to stay afloat. MPHC not only survived COVID-19; they thrived.

The increased revenue from MedComplete’s solutions allowed MPHC to open an additional clinic and begin building a new clinic from the ground up. Internal staff productivity increased considerably thanks to Meduit’s artificial intelligence tool SARA, freeing MPHC staff to take on other necessary RCM functions.

MedComplete’s array of services include billing, insurance and self-pay follow-up, coding, credentialing, claim scrubbing, training, Telehealth fluency, and more.

You can read the full case study here.

In each edition of Cycle Up, we sit down with one of the leading voices in the company. In this issue, we’re talking with Darrell Bryant, Senior Vice President of Human Resources (HR), to talk about staffing and corporate culture.

Meduit has launched Season 2 of our award-winning podcast series with Episode 1 – Self-service vs. Full-service Patient Engagement Tools.

In this podcast, Jeff Nieman, CEO of Meduit, and Greg Rassier, Chief Operating Officer for Meduit, discuss achieving the right balance of self-service and full-service patient engagement solutions that hit the sweet spot of accelerating patient payments.

The podcast breaks down:

Held virtually on March 2-3, the 15th Healthcare Payments Innovations Conference delivered strategies for improved provider processes that generate increased revenue from patient and payer accounts.

During the event, Chris Johnson, Vice President of Revenue Cycle Management for Atrium Health, and Jason Petrasich, Senior Vice President of AI for Meduit, presented Deliver and Continuously Improve Patient Engagement Though Back Office Operations with NLP.

Petrasich and Johnson covered:

While other RCM companies may over-promise and under-deliver when it comes to artificial intelligence, Meduit’s SARA is delivering exponentially and now doing the work of 60 full-time employees.

Have comments or questions regarding an article in this issue or a topic you’d like our editorial team to consider for an upcoming issue? Send us your thoughts at info@meduitrcm.com. And be sure to like and follow us on social media: