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 […]
Best Practices for Optimizing Revenue Cycle Management
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. […]
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 […]
Get to Know Quality Payment Program -Avontix
For a healthy medical practice, it is necessary that there is a proper revenue cycle management system in place. An important aspect of the revenue cycle management is receiving payments for the services provided by the healthcare facilities. Programs like Medicare and Medicaid help the healthcare providers in receiving payments without any delays and help […]
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 […]