A medical claim is a piece of document or a bill that healthcare providers submit to the insurance provider of a patient. This medical claim contains comprehensive data regarding the care and services provided to the patient in the form of unique medical codes. Such a medical claim generated by medical billing professionals serves as […]
Improve Patient Retention and Revenue Cycle with These Strategies
The success of a healthcare facility depends on its patient walk-ins of its existing and new patients. If you want your healthcare facility to have a regular flow of patient appointments, you must focus on patient retention and ensure that your existing patients do come back to you when they have any further issues. According […]
RCM Challenges Faced by Specialty Healthcare Providers
A robust and efficient revenue cycle management (RCM) plays a significant part in ensuring that healthcare organizations are on a profitable path. The RCM process largely defines the healthcare facility’s ability to collect timely revenues and utilize them to provide high-quality care to build trust among patients and enhance the brand value of the facility. […]
How to Improve Coding Quality for a Better Revenue Cycle?
The revenue cycle is a crucial aspect of a hospital or clinic functioning which includes the entire lifecycle of patient accounts from the time of the first appointment to the final payment receipt. From the year 2020, we have seen several changes in the healthcare sector in terms of diagnosing and treating coronavirus patients. It […]
Rational Ways to Get Faster Insurance Payments
Your healthcare facility’s financial health depends largely on the medical billing process that collects the money due to you. You can regularly assess your financial performance by checking the accounts receivable reports focusing on the number of claims over 120 days. To check if your revenue cycle management process is performing effectively, you need to […]
What Is Revenue Cycle Management In Healthcare Facilities?
Revenue cycle management (RCM) is the management of finances, a crucial process that keeps an organization going on a daily basis. Medical billing plays a major role in the efficient functioning of the RCM process and thus the healthcare facility. If facilities do not focus on their financials they would be floundering no matter how […]
Create an Efficient Revenue Cycle with Effective Denial Management
A healthcare facility’s health depends on its revenues from reimbursements and out-of-pocket payments from the patients. While payments from patients can be collected with a little ease with a few processes in place, reimbursements from insurance payers are not that easy and they become even more difficult in cases where the claims are denied. A […]
A Walk-through the Revenue Cycle Management In Healthcare Facilities
Revenue cycle management (RCM) is the management of finances, a crucial process that keeps an organization going on a daily basis. If facilities do not focus on their financials they would be scrambling no matter how excellent their patient care would be. In order to have an efficient revenue cycle, it is necessary to understand […]
Revenue Cycle Management in the Healthcare Industry
Hospitals, clinics, and small practices provide healthcare industry services that play a critical role in improving health and saving lives. Although providing healthcare is a service, healthcare providers cannot offer their services free of cost. Every healthcare organization has to develop and follow certain processes and uniform procedures to maintain their financial health and survive […]
How Can Medical Billers Avoid Claim Denials?
Medical billing is a critical process in the revenue cycle management of every healthcare providing organization and helps the healthcare provider get its dues in the form of timely claim reimbursements for the services provided. A medical billing denial results in revenue losses for the provider and affects the bottom line negatively. A medical bill […]