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 […]
Prevent Medical Billing Errors to Maintain Healthy Patient-Provider Relationship
A healthcare facility’s growth depends on the healthy patient-provider relationship that is dependent on the quality of services the facility provided to the patients. Healthcare facilities work hard in every department right from the physicians to the support staff to ensure that the patients have a positive experience with the facility and get great patient […]
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 Healthcare Facilities Can Improve Charge Capture
Charge capture is an important process of revenue cycle management that helps the physicians and healthcare facilities to record the services and procedures performed on patients that is later on submitted to the insurance companies to get the reimbursement. Doctors record and transfer the charge capture information in various ways like using spreadsheets, post-it notes, […]
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 […]