7 Components of Population Health Series: Revenue Cycle Solutions
Part VI: Revenue Cycle Solutions
In a 2015 interview with Health Data Management, Bill Spooner, an independent healthcare IT consultant and retired CIO of Sharp HealthCare, listed seven key IT components that organizations must possess in order to effectively manage population health initiatives. “The components, taken together, give healthcare organizations a solid foundation in taking in patient data, storing it, organizing it and acting upon it.”
As an EHR vendor committed to making population health a reality, MEDITECH passes the test with flying colors! We’d like to show you how we fulfill these requirements, so we’re publishing a weekly article for each of the seven components. Here’s Part VII:
The Seventh Component - Revenue Cycle Solutions
According to Bill Spooner, “While healthcare organizations have used revenue cycle applications for years, they’ll need systems that can handle more complexity, particularly in managing bundled payments, reconciliations, and write-offs.”
How MEDITECH Qualifies
MEDITECH offers solutions to automate the Revenue Cycle Management process, ensuring that the appropriate information is captured on the front end, copays and deductibles are collected at the point of service, charges are automatically captured, claims are accurate upon submission, and collection streams are automated. And it’s all part of the bigger billing picture.
“MEDITECH’s RCM is designed to be centered around the patient/consumer — and the provider,” says Melissa Swanfeldt, MEDITECH AVP. “Today, we still see different entities with varied contracts and regulatory requirements that drive billing. We centralize all of the processing for those different entities by providing one statement and one worklist for billers and coders that crosses the continuum. As healthcare moves away from fee for service and into value-based reimbursement, this is the foundation our customers need.”
Learn more about how MEDITECH is making population health a reality.
Missed how MEDITECH fulfills the previous requirements? Don’t worry, we’ve gathered previous articles from the series right here: