In healthcare today, a common cause of heartburn might not be diet based, as you would typically expect. The answer today would probably be the highly anticipated transition to ICD-10 (insert nervous laughter here).
All jokes aside, ICD-10 is serious. However in the case of ICD-10, it is going to happen, and cannot be avoided. Revenue cycle management and billing teams will carry a large portion of the burden – working with new codes, trying to keep denial rates as low as possible while keeping administrative performance steady.
One way to manage the chaos is to leverage comparative analytics – to know where you stand based on internal and external data. Comparative benchmarking is a proven method that gives you the insights to drive process improvement and business optimization.
We are thrilled to share our recently published article in the July/August issue of HMBA Billing Boost Your Business with Benchmarking, where we discuss benchmarking best practices, the benefits it can provide and actionable outcomes.
To read the full article please login to HBMA Billing , Boost Your Business with Benchmarking
If you are nervous about ICD-10 see how comparative analytics can help you manage the process, check out this infographic, There is Still Time to Prepare.
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