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 […]
Common Revenue Cycle Myths that Affect Healthcare Providers
Healthcare providers have a tough task in optimizing their revenue cycle because of the nature of business they are in that deals with the health of people. Although it is challenging in the beginning stages, it is not entirely difficult to drive revenues to increase cash flow if healthcare facilities are capable of making their […]
Ways to Take Control of Medical Accounts Receivables
One common thing that bothers healthcare providers is poor accounts receivables management and the unacceptable cash flows resulting thereby. Healthcare providers can focus on providing quality healthcare only when they have proper revenues and problems in accounts receivables result in loss of revenue. The revenue cycle management of a healthcare provider involves achieving the shortest […]
Dealing with Pre-Authorization in Medical Industry
Among the many frustrating and time-consuming processes, physicians are required to complete as part of their job is to deal with the pre-authorization. Getting pre-authorization for procedures to be performed is expensive in terms of time and productivity as it takes a considerable amount of time in getting it from the payers. Receiving pre-authorization for […]
Revenue Cycle Risks Healthcare Providers Should Deal With
Every now and then, healthcare facilities have to deal with various risks that hinder any of the critical areas of a healthcare facility in achieving its goals. As per the revenue cycle management experts, the critical areas of a healthcare facility that could be affected by risk are; quality patient care, operations, compliance with regulations, […]
Take Charge of Common Issues in Medical Billing Proactively
A lot of issues are faced by healthcare organizations in the process of revenue cycle management and they need a robust system in place to tackle these issues effectively. All the various issues related to operations, communication, and finances have to be managed carefully or else healthcare providers may suffer the loss of revenue. To […]
Revenue Cycle Management Best Practices
Medical billing is an important function for the healthcare providers, helping them to recover the expenses incurred while providing treatment and care to patients. The medical billers take information from various sources especially from medical coders who give the universally acceptable alpha-numeric codes to the diagnoses, treatments, and medications and produce bills to claim reimbursements […]