Every spring, the Radiology Business Management Association (RBMA) hosts an informative summit with networking and educational programs for leaders across the industry. The conference, held in a picturesque valley in Colorado Springs, took place just six months after ICD-10 was mandated throughout the U.S., putting added pressure on radiology businesses in a constantly evolving healthcare environment.
This year’s summit had a very casual appeal, as attendees and vendors alike connected with their peers to share experiences and best practices, while learning how to tackle industry challenges and thrive in the years ahead.
Among the event’s many takeaways were:
- Understand How You Get Paid
From ICD-10/PCS documentation and reimbursement strategies to the greater need to own the entire revenue cycle process, the message was simple and universal; gaining visibility and reporting into your process is paramount in order to reduce Accounts Receivable (AR) days while minimizing write-offs. With looming late submissions always threatening a write off, having the ability to sort and report on monthly charge/payment activities is crucial to keeping up with a fast-paced healthcare industry.
- Interdependence of IT and Medicine
Julie Pekarek, VP Solutions Management for Merge, along with several healthcare CIOs, led a session entitled, Ten IT Initiatives for a Progressive Radiology Practice. This session focused on some of the top ways radiology CIOs can drive success in 2016, and what to consider while moving IT from a cost center to a business driver.
- More Codes
Although the ‘Y2K’ feel of ICD-10 has come and gone, change looms in the 3rd quarter of 2016. More codes and regulations are expected to challenge coders, radiologists, and healthcare providers. The Fall RBMA conference will provide the opportunity for RBMA members to reconvene and discuss the challenges these new codes will present and strategies to address them without hindering their success.
RBMA’s 2016 Spring Radiology Summit struck the ideal balance of peer networking and practical training, arming radiology professionals with the tools and knowledge they need to transition from volume to value and identifying ways in which progressive radiology practices can utilize IT to maintain efficiency without sacrificing quality. We look forward to the exciting changes this year will bring and hope to see you at the RBMA Fall Educational Conference.