Week in Review: Navigating Claims Denials and Cash Flow Crises

This week, MGMA editors Daniel Williams and Colleen Luckett discuss the latest challenges facing medical practices, including rising claims denials and ongoing cash flow issues stemming from the Change Healthcare cyberattack. They share insights and resources for addressing these hurdles.

Articles and Resources mentioned:

1) MGMA stat poll results - Results from the weekly poll reveals rising claims denial rates and show how practices have been impacted (https://www.mgma.com/mgma-stat/steps-toward-revenue-cycle-automation-vary-across-medical-groups )

2) Claims denials webinar - On-demand webinar providing strategies for reducing denials through documentation, authorizations, and eligibility verification (https://www.mgma.com/webinars/future-proof-your-practice-on-demand)

3) Employee loyalty article - Insights newsletter piece on building workplace commitment and prioritizing employee well-being (https://www.physicianspractice.com/view/8-strategies-for-improving-employee-loyalty-and-commitment)

4) The New MGMA Community Home Site: Check out the cool new design where you can connect, network, get questions answered and share your own knowledge in the new member community. (https://community.mgma.com/home )

5) Harvard Business Review change execution article - Article outlining the importance of clear internal communications for successful change initiatives using the "ACE" approach (https://hbr.org/2024/03/how-to-actually-execute-change-at-a-company?mkt_tok=MTQ0LUFNSi02MzkAAAGRrh59b6aSQzfkxBFh44Fjss76163vnPh9eW3-l2I9ktMfH0MI3NRtudupHCHSMFh6TiFSuoJ28RfqSX6BNDOsONllh8DVlvCzOWCh173iLw)

6) Cash flow crisis management article - Strategies for stabilizing operations and finances after disruptions through immediate cash management and securing short-term financing (https://www.mgma.com/articles/cash-flow-management-strategies-change-healthcare-outage)

Music:

"Cool Piano" by Tagirijus courtesy of Free Music Archive, CC BY-NC-SA

If you would like additional tools and resources related to medical practice leadership or you have stories to share with us, email us at Daniel Williams at [email protected].

Thank you again for taking the time to listen to the MGMA podcast network.