Convergence - Credentialing and “The New Revenue Cycle”

Newport understands that the healthcare industry is undergoing dramatic change. Decreasing reimbursement, the implementation of healthcare IT initiatives, and hotly debated Accountable Care Organizations (ACOs) have converged to re-ignite our health policy and economic discourse. Discussions between CMS, commercial payers, and providers have been intense and many providers are waiting to hear how these discussions will affect their existing practices.

The convergence of decreasing reimbursement, healthcare IT, and ACOs is playing itself out in the form of Clinical, IT, and Operational Integration. Prior to the Accountable Care Act (ACA), provider organizations were operated and reimbursed using disparate, disconnected processes and systems. Known as the fee-for-service model, providers were reimbursed solely on the type of service performed. Systems and processes focused on pushing data from point A to B and robust data analytics were severely limited. The result was that provider organizations rarely understood where they were losing revenue. With the emergence of the ACO model, providers will operate and be compensated based on the collection and use of data. Reimbursement and operations will be based on incentive driven compensation which will be linked to productivity and clinical behavior.

At Newport, we believe that clinical, IT, and operational integration is forcing provider organizations to re-think their existing ways of doing business. This new way of thinking has created a "New Revenue Cycle." Defined as the data that is collected, the flow of data between IT systems and how that data is used to improve clinical and financial outcomes, the New Revenue Cycle will highlight areas of improvement which previously went ignored.

Newport partners with providers to help them stay ahead of the New Revenue Cycle by implementing robust data collection, reporting, and decision support software. Our cloud based software sits squarely in the middle of the New Revenue Cycle by collecting critical credentialing data and allowing provider organizations to analyze that data to better manage their credentialing processes. Further, the data collected and analyzed may be used to identify new revenue opportunities and collect more cash, faster.

To compliment our cloud based analytic software, Newport offers comprehensive back office solutions. Whether Newport manages the entire credentialing process or provides business office support for targeted credentialing projects, Newport’s back office solutions free providers from administrative tasks so that they can focus on providing superior clinical care to their patients.

For more information on Newport’s cloud based data collection, reporting and decision support software, or on our comprehensive back office credentialing solutions, please contact info@newportcredentialing.com.