Optimizing Revenue Cycle Performance Ahead of Healthcare Reform: Interview with: Renee Monahan, Vice President, Revenue Cycle, Conemaugh Health System, a speaker at the marcus evans National Healthcare CFO Summit Spring 2013, on how healthcare CFOs should prepare for healthcare reform.

1. Optimizing Revenue Cycle Performance
Ahead of Healthcare Reform
To prepare for this change, we are relationships with healthcare organi-
working to get our costs aligned. The zations across the spectrum of care, as
systems that Healthcare CFOs have in well as developing an integrated
place for measuring and reporting physician network. Ultimately we are
clinical variations will be key for going to be sharing the healthcare dollar
successfully reducing costs as and partnering with physicians and
reimbursement dollars continue to providers to manage costs.
shrink.
To optimize revenue cycle performance,
many healthcare providers, including us,
are putting into place the upgrades and
technologies that will help achieve
We are
Interview with: Renee Monahan, Meaningful Use and prepare us for the
Vice President, Revenue Cycle, changing payment mechanisms,
Conemaugh Health System ultimately with a longitudinal health
record that crosses all spectrums of
transitioning
care.
As the healthcare business changes,
Chief Financial Officers (CFOs) in the What else is required to achieve
industry should make sure to have good that?
to a health
systems in place to measure cost and
quality, advises Renee Monahan, Vice Excellent leaders and staff who are
President, Revenue Cycle, Conemaugh maximizing effectiveness of the
Health System. “The systems that technology available. For example, we
system
Healthcare CFOs have in place for have installed a quality assurance
measuring and reporting clinical program that is automated for patient
variations will be key for successfully access staff. A work center allows them
reducing costs as reimbursement dollars to very efficiently correct any errors in
based on
continue to shrink,” she goes on to say. real time, before the claim moves any
further down the revenue cycle stream.
A speaker at the marcus evans
National Healthcare CFO Summit Moving through the revenue cycle, we
quality and
Spring 2013, in Palm Beach, Florida, have been working with our physicians,
April 15-17, Monahan talks about clinicians and coding specialists for
revenue cycle management and how improved clinical documentation, and
healthcare reform will impact the training them on our electronic health
patient
finance function. record system. These steps will ensure
that we are prepared as an organization
How is the healthcare business for implementation of ICD-10 in October
changing and how will it impact 2014.
outcomes
CFOs?
What opportunities could healthcare
We are in a period of many changes. We CFOs take advantage of, to improve
are transitioning from a system that is financial performance?
based on quantity, where we get paid
for the volume of services per admission Healthcare CFOs should be gearing up
or outpatient encounters, to a health and preparing their systems for
system based on quality and patient changing payment mechanisms,
outcomes. Today increased volume including ACOs, bundled payments,
equates to additional revenue, but in where we will be paid based on health
the future, it will actually equate to management over our population. I
additional cost. would advise CFOs to look at building

2. About the National Healthcare CFO Summit Spring 2013
The Finance Network –
This unique forum will take place at The Ritz-Carlton, Palm Beach, Florida, April
marcus evans Summits group
15-17, 2013. Offering much more than any conference, exhibition or trade show,
delivers peer-to-peer information
this exclusive meeting will bring together esteemed industry thought leaders and
on strategic matters, professional
solution providers to a highly focused and interactive networking event. The
trends and breakthrough
Summit includes presentations on positing a hospital for success, the impact of
innovations.
healthcare reform and getting a handle on operational expenses.
www.nhcfosummit.com
Please note that the Summit is a Contact
closed business event and the
number of participants strictly Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits
limited. Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com
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