Eric Dam | Apr 03, 2009 |
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As reported by Howard Anderson in Health Data Management: The multi-step claims process is getting the once over from hospitals as they seek to improve their cash flow.
Hospitals must examine their revenue cycle management processes to determine if cash flow tie-ups are related to organizational practices, people or technology. Smoothing out the claims cycle should involve careful scrutiny of claims before they are sent to payors to ensure they are properly coded and edited.
To streamline the process, hospitals are adopting claims automation processes to confirm insurance eligibility prior to treatment and enable claims filing through payor Web portals rather than through clearinghouses. Electronic funds transfer, electronic remittance advice, templates in electronic medical records that offer codes for diagnoses and procedures and other tools can streamline the claims process and improve cash flow.
Additionally, hospitals and payors should open communication lines to eliminate wasteful steps in the process, and hospitals should install procedures to track claims denial trends.
Filed Under: Financial Performance
Tags: hospital labor cost management, hospital revenue cycle, patient registration
About the Author
Eric is an expert in hospital operations. Eric’s quarter-century experience has been rooted both in theory and practice. As a Principal for Compass Group, Inc., Eric uses his specialized talents to address critical areas such as administration, operations, planning, information systems, and finance—with focused emphasis on hospital and patient care services redesign, organizational development, and the monitoring and improvement of productivity and business systems functions.
Throughout Eric’s career, he has remained focused on operations and process improvement. Prior to joining Compass Group, Eric was the Owner and Partner of O’Neill Heathcare Resources, a company which worked on the philosophy that, “One must have the ability to have open, trusting communications with clients.” This philosophy allowed for a thorough understanding of problems and opportunities, and the ability to adapt quickly to diverse organization environments. The end result—not being seen as simply just a consultant, but as a successful partner needed to make essential changes.
In addition, Eric served as a Senior Associate with Eric Canter Associates and Jacobson Consulting, Inc., where he provided consulting development and management services to hospitals, healthcare systems, integrated delivery networks, freestanding medical facilities, and ambulatory care. He was also Vice President for the largest pediatric medical center in the Untied States, where he managed clinical, professional, and support areas; and also served as Associate Professor in the Graduate Program of Hospital and Health Administration at Xavier University. Eric has the innate ability to apply his profound knowledge of hospital operations and apply it toward bottom-line hospital improvements, resulting in reduced average length of stay, improved materials/management/purchasing systems, advanced productivity monitoring systems, and, above all, educating managers on how to manage their labor expenses without negatively impacting the desired retention of full-time staff.
Eric holds a Master’s in Hospital Administration from Xavier University, as well as an undergraduate degree in Industrial Psychology from Middle Tennessee State University.
Case studies to learn more about ways in which Compass Clinical has worked to create better American hospitals.