The healthcare industry is an industry that has unpredictable revenues due to the uncertainties involved in the collectibles. To stay in the business of providing healthcare it is requisite that the facility receives its revenues on time. Healthcare providers need to streamline their revenue cycle management to ensure that their business runs smoothly. Providing care […]
4 Credible Ways to Improve Revenue Cycle Management
Healthcare industry is vastly different from the other businesses and hence faces a lot more challenges than the other industries in managing its complicated revenue cycle. The waning reimbursement rates of the claims and the dynamic health policies make it challenging for the healthcare industry managers to improve the financial health of the facilities by […]
Checking Claims Daily Proves Profitable for Facilities -Avontix
There are many reasons for the failure of a healthcare facility and claims denial is a major concern for the facilities as it results in missing out on huge revenues that are due. Thus, it becomes vital for healthcare facilities to monitor the claims on a daily basis as a part of revenue cycle management. […]
Steps to Appeal for Denied Claims -Avontix
To ensure that the procedures and tests performed on a patient are coded accurately and billed appropriately is the basic method to avoid and eliminate any claim denials. Irrespective of the precautions taken and measures adopted, there would still be some errors that result in denials. An effective revenue cycle management requires taking effective measures […]
Ease Your RCM with Outsourcing-Avontix
Collections job is a challenging task that can give a number of sleepless nights to people handling it. It is all the more challenging in the healthcare sector where collections involve patients and their attendants. The medical billing team has a huge responsibility to raise accurate claims for the procedures and services offered and collect […]
Some Interesting Facts Regarding Payment Collections -Avontix
Optimizing the revenue cycle management for hospital facilities has become necessary with the increase in the number of high-deductible health plans. Here given are few healthcare market trends that will signify the need for revenue cycle management for better health of healthcare providers. According to survey results, the out-of-pocket costs for patients have increased by […]
Revenue Cycle Management and Why HealthCare facilities should find an RCM partner today! -Avontix
Did you know that Insurers reject nearly 26% of all claims and up to 40% of those claims are never resubmitted? This means every physician can lose up to 10% revenue. Introduction of Revenue Cycle Management Systems can increase payments and decrease the bad debt write-offs. Let us see what RCM is and why it […]