My Craneware colleagues and I recently returned from sunny Ft. Lauderdale, Florida. If you have never been to an HFMA MAP revenue cycle event, I can’t recommend them enough. Compared to the big shows like HIMSS and ANI, it was less crowded and more focused on revenue cycle. There was a great balance of downtime to make friends with people from provider systems and with vendors, and the educational sessions were filled with useful takeaways. I was honored to be invited to speak at one of the educational sessions with Kathy Lytal from Parkview Health on Enterprise Pharmacy and Supply Chain Revenue Integrity (click the link to download a copy of the slides).
The general consensus among attendees on ICD-10 was “so far, so good.” We also heard the phrase “Y2K” used more than once. In one session, the speaker remarked that they hadn’t seen a dramatic loss of coder productivity like CMS and others had predicted.
There was, however, serious concern and speculation about what will happen when the first 835 remittances start coming back from payors. Will denials increase as payors move from doing ICD-9 crosswalks to actually processing claims in ICD-10? A session that Presbyterian Health held, titled Reducing Denials Through Collaboration detailed how they had tackled denial management by working across departments as well as with their hospital’s health plan. The session was so full that many people in the back had to stand!
We saw denial management come up as a top issue again in one of the large general sessions. HFMA live-polled the entire conference with the following question:
At a strategic level, if you could only monitor one benchmark, it would be:
- Denials as a % of total claims remitted
- Aged A/R > 90 days
- Net days in A/R
- Cash as a % of net patient service revenue
Interestingly, 34% of the audience voted for option 1 – Denials as a % of total claims remitted. Options 2, 3, and 4 were 17%, 24%, and 25% respectively.
If you were there, what did you take way from HFMA MAP? And if you were not, what do you think? If you could monitor just one benchmark, which would it be? And was ICD-10 another Y2K or is there more to come? Feel free to write me at k.schwartz (at) craneware.com