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Developing a Pricing Strategy for the 2019 CMS Transparency Requirement

In October, Panacea sponsored an HFMA educational webinar on Developing a Pricing Strategy for the CMS 2019 Transparency Requriement.    The one-hour webinar was hosted by the Healthcare Financial Management Association (HFMA) and featured Panacea financial executives, Fred Stodolak, Executive Vice President and Mark Spehar, Senior VP Financial Services as presenters.

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News: Panacea Responds to CMS Final Rule Effective October 1, 2018 Requiring Hospitals to Publish their Chargemaster via the Internet

Hospitals have just a few months to ensure their prices are rational and defensible to meet the January 1, 2019 deadline. St. Paul, MN—August, 2018—Panacea, a leading provider of mid-revenue cycle management, innovative software and enterprise-level educational solutions announced today that despite industry push-back during the comment period, the CMS Final Rule requires hospitals to […]

On Demand Webinar: Debunking the Myth: Why Charges Still Matter in the Age of Pricing Transparency

The push for health care price transparency is nothing new and can be traced back almost 20 years. When CMS released their proposed 2019 Inpatient Prospective Payment System (IPPS) rules including “requirements for hospitals to make public, a list of their standard charges via the internet”, it further underscored CMS’ continued effort for hospitals and health systems to provide price transparency.

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Case Study: Achieve Significant Efficiencies through a Comprehensive Audit Program to Ensure Compliant Coding and Optimal Reimbursement

A large, multi-specialty practice with more than 1,000 physicians and allied health professionals has been able to achieve significant efficiencies by consolidating a number of core administrative activities, particularly billing, reimbursement, and other financial operations.

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It’s a Fact: Revenue Integrity Programs Increase Net Revenue

Is your revenue integrity program performing at full capacity?

Perhaps more important, do you have a revenue integrity program (or department) at all?

A survey conducted by the Healthcare Financial Management Association (HFMA) reports that less than half (44%) of providers contacted have a revenue integrity department to track accurate coding and charge capture, establish reasonable pricing for services, ensure legal and regulatory compliance, and develop effective financial reporting. Yet those that have established revenue integrity programs have realized an overall increase in net revenue.

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Does your organization have a strategic plan to address CMS FY19 IPPS proposed rule that requires hospitals “to make public their standard charges via the Internet?”

Written By: Fred Stodolak, Executive Vice President, Mark Spehar, Senior Vice President, Financial Services, Henry Gutierrez, Vice President, Financial Services

There is an increasing debate surrounding CMS FY2019 IPPS proposed rule, published April 24, that would require hospitals “to make public a list of their standard charges via the internet.” Discussions around this topic have pointed out a number of valid arguments:

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University of Utah Health: Making the Case for Auditing CDI Queries

The University of Utah has taken a unique approach to CDI. They have determined that standards and auditing are critical components of the CDI process. But how does a facility begin auditing queries? And what constitutes a compliant query?

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HFMA Awards Panacea “Peer Reviewed” Designation for 2018

May 23, 2018—Panacea, a Career Step company and leading provider of revenue cycle management, smart software and enterprise-level educational solutions, is pleased to announce that after a rigorous review, the Healthcare Financial Management Association (HFMA) has awarded Panacea’s CDMauditor® Hospital Zero-Base Pricing® its “Peer Reviewed by HFMA” designation. Panacea’s Comparative Hospital Data™, Unit Cost Estimator, […]

Cultivating Homegrown Inpatient Auditors

By training coders who already are on staff, hospitals leverage institutional knowledge and build career paths.

Changes in payment policies, laws, and regulatory oversight are forcing healthcare organizations to respond to increased regulatory scrutiny and audits. Medicare audits have increased by 936 percent in the past five years*. Ad hoc inpatient audits are no longer enough of a defensive strategy. Robust internal auditing programs are becoming a must for inpatient organizations.

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News: Panacea Announces New Thought Leadership and Industry Knowledge Hub, Insights

Lehi, Utah, May 15, 2018 – Panacea, a Career Step company and leading provider of revenue cycle management, smart software and enterprise-level educational solutions, is pleased to announce Insights, its new thought leadership and industry knowledge hub. This new platform offers unlimited access to industry-leading healthcare revenue cycle management information through a free subscription.