Cycle Up

The Hospital:

Blount Memorial Hospital: a general medical and surgical hospital in Maryville, Tennessee, with 314 beds and Level III trauma center emergency department. Details annually:

Editor’s Note: In each edition of Cycle Up , we hear from a key leader within Meduit to gain insights from top national revenue cycle thought leaders in the industry. In this edition, we sat down with Eric Coats, National Director of Bad Debt Process for Meduit. 

Payor contracts can make or break a healthcare provider’s operation regardless of size. Understanding the fundamentals, the pitfalls, and where you can leverage upsides can ultimately mean more revenues and less risk to your bottom line.

How well are your revenue cycle processes working? A good indicator is the age of your accounts from final bill or claim date. Generally, a clean claim gets paid in 30 days or less. If a claim is older than 60 days there is typically something wrong with it, and once you pass 180 days, collectability on that account dips to 5%.