Health Care Industry Roundtable Discussion

Tuesday, April 4th
Room 310
8:30am – 9:45am
Intermediate – FP&A Renewal Credit

Cynthia Newton, CPA, System Director of Banking Operations, Baylor, Scott & White Health
Tim Phillips, Deputy Head, Healthcare, BNY Mellon

Session Description

As today’s healthcare payment environment grows in complexity, with ever-evolving technology options and service expectations, effectively managing your receivables collection process is a necessary core competency for healthcare providers. The continued emphasis on moving from paper Explanation of Benefits/Explanation of Payments (EOB/EOP) receipt/processing to Electronic Remittance Advice (ERA) handling is enabling providers to more effectively control cost, reduce days sales outstanding (DSO) and risk, and simplify administrative tasks. However, challenges for payers remain, including the need for organizations to split claim payments across multiple billing systems for posting/reconciliation.

This roundtable discussion will focus on how healthcare practitioners are working with banking and technology partners to implement new services designed to drive operational efficiency by reducing manual processing, reconciliation and errors, and efficiently delivering data and images to staff for payment services. Areas of focus include:

  • Investing in billing and revenue-cycle technologies to support evolving business practices
  • Integrating these technologies with banking, software and service partners
  • Overcoming implementation challenges including payment security, rapidly evolving technology and compliance
  • Implementing efficient payer payment infrastructures and servicing models and strategies, such as:
    • Continuing to move payers from paper EOBs/EOPs to ERAs
    • Creating manufactured 835s from remaining paper EOBs and EOPs
  • Automating the claims splitting and cash reconciliation process when a payment for a single ERA or EOB has to be applied to more than one healthcare billing system
  • Leveraging technology for interrogating and routing general correspondence for processing and disposition