Healthcare professionals understand how important it is that their patients have a good experience and are treated well during their stay, on top of the expectation of quality clinical care. Now more than ever, emphasis on the experience is critical as HCAHPS scores are directly linked to reimbursement initiatives through the Center of Medicaid and Medicare Services.
Organizational nirvana: that feeling you get when you open the door to that one closet in your home. It’s okay—go ahead and laugh. We all have one. The door opens and this time, instead of dodging falling items, you can see what’s there and actually find what you are looking for without fear of bodily harm.
Hospital systems are focusing now more than ever on improving the experiences of patients and their families, as their “inpatient” providers are held accountable to value based service models.
Through Google searches and an increasing presence of online accounts, today’s consumer has an abundance of information available at their fingertips. Having information readily available when customers want it, empowers them to be self-sufficient. With 71% of consumers wanting the ability to solve their own customer service issues, self-service technology enables the customer interaction that shapes their experience in a way that works for them.
It’s no secret that structured rounding improves patient communications and case management outcomes. But, according to a study conducted by Stanford Health Care, purposeful rounding has also increased patient satisfaction by an average of 12% in some hospitals.
The term “workflow” isn’t new to the world of software. It’s used to describe how organizations are streamlining their business processes with automation to eliminate manual tasks and gaps. So what’s the big deal and why is implementing a workflow automation application so important?
This past May marked the 12-year anniversary of the NQF membership’s endorsement of the Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) survey as a measure of adult patient satisfaction administered by the Centers for Medicare & Medicaid Services (CMS).
HCAHPS isn’t a term that is new to the healthcare industry. Hospitals have been collecting and reporting HCAHPS data for almost a decade now. They have been able to analyze the data, implement quality improvement initiatives, and see the results with increased HCAHPS scores and Medicare reimbursements.
RegTech is a buzz word that, over the last couple of years, has found its place as a mainstay in the financial services industry. What exactly is RegTech, and how does is differ from FinTech? The answer is simple. RegTech is short for regulatory technology and is a subset of FinTech that has risen out of the global complexity of regulation and its impact on financial services.
Technology plays an integral part in the way healthcare organizations do business today. It allows hospitals to quickly address patient needs while adhering to value based service models. There are many rounding products on the market that boast ease of use, scalability, and efficiency. While all important, how does the product deliver on those promises?
The outlook for the mortgage industry, including the future of loss mitigation, was the background for the Five Star’s recent Government Forum in Washington DC. Keynote speakers and panelists enlightened attendees on what to expect from rising interest rates, declining housing inventory, the quest to attract millennials, all the while managing to a purchase-centric market. Afternoon panel discussions focused on servicing specific scenarios to include what’s next for loss mitigation and the challenge of property preservation.
The Mortgage Bankers Association convened its 2017 National Technology in Mortgage Banking Conference & Expo in Chicago on March 26 – 29, 2017. Participants discussed the evolving role of technology in the mortgage space. The timely conversation comes as the National Association of Realtors’ 2017 Home Buyer and Seller Generational Trends recently reported Millennials make up the largest share of homebuyers at 34%, with 92% of them turning to online resources to conduct their home searches.
As everyone who attended the MBA National Mortgage Servicing Conference & Expo returns to their desks, we look at the continued uncertainty of the Residential Mortgage Backed Security market (RMBS). What looks like a comeback for 2017, based on rising interest rates, may be temporarily stalled as the Federal Open Market Committee decided to keep the Fed Funds rate at 0.75 percent at the January 31-February 1 FOMC meeting.
The end of 2016 heralded in extensive regulatory guidance on loan modification alternatives to the Home Affordable Mortgage Program (HAMP). Established by the US Department of the Treasury (DOT) in 2009 in an effort to standardize mortgage modifications, HAMP was retired on December 31, 2016 after providing nearly $10.5 million in consumer relief necessitated in response to the financial crisis.
Late last year, at the Mortgage Bankers Association Annual Conference and Expo, attendees were asked, “What is most important in moving our industry forward?”. There were five clear trending topics from the answers received, with each item having its unique impact on the industry and your organization.
The start of a new year symbolically represents a restart or clean slate to make this year the best year yet. We make resolutions to set our path for success and to create accountability. We join a gym to exercise more, buy fruits and vegetables to eat healthier, and create budgets to spend less. We focus our efforts on creating a new you in the New Year.
The Healthcare industry has been advancing quickly into the digital age. Having a mobile strategy is just one part of it. With the introduction of electronic medical record systems and the ongoing integration of technology into the continuum of care, there has been an explosion of software and hardware products and solutions.
Payday loans are at the top of the regulator “hot” list this year, with a recent proposed rule issued by the Consumer Financial Protection Bureau (CFPB) in late July. The CFPB is working to create regulation that ensures the consumer’s ability-to-repay (ATR) and puts a stop to abusive and unfair practices in this area.
Our partners at Sapiens DECISION hosted a webinar on “How Decision Management Drives Transformation Projects,” with insights into the financial crisis and how technology transformation was required post-crisis and will continue to be required across all industries to help avoid a repeat of 2008. The presenters included Kramer Reeves, VP of Product Marketing at Sapiens DECISION and Larry Goldberg, the evangelist for Sapiens DECISION.
As the mortgage industry prepares to say goodbye to the Home Affordable Modification Program (HAMP), the largest Making Home Affordable (MHA) program, numerous regulators are issuing loss mitigation guidance to ensure post financial crisis accomplishments are not lost.
The recent release of hospital ratings by the Centers for Medicare and Medicaid Services (CMS) has generated a less than positive buzz amongst hospital administrators.
A mere nine months post implementation and five webinars later, the Consumer Financial Protection Bureau (CFPB) announced proposed amendments to the Truth in Lending Act (TILA), Real Estate Settlement and Procedures Act (RESPA) Integrated Disclosures (TRID) rule on the last business day of July.
Understanding how to innovate the patient experience is no longer analogous to operating in the dark. Originating out of Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) scoring process back in 2002, patient experience has evolved along with legislation through the Hospital Compare web portal introduced in 2008, onto becoming a major component of Medicare and Medicaid reimbursement in 2012.
Government agencies are quickly trying to latch onto financial technology (Fintech) opportunities to understand the growing impact on financial services and small businesses. White House officials, along with federal regulators, met for a half day event to identify ways to promote and regulate rapidly evolving Fintech innovation, which encompasses digital currency, online lending and payment services.
Healthcare-associated infections (HAIs) are a growing concern for patients, impacting patient health and outcomes. Amidst a changing regulatory framework, HAIs also influence healthcare costs. For one, HAIs are considered preventable and therefore are subject to non-payment by insurers.