Regulatory compliance refers to a healthcare organization’s extensive efforts to ensure they have the appropriate measures and hospital billing processes that enable them to meet all legal and professional obligations. Maintaining regulatory compliance while managing hospital staff, caring for patients, and ensuring the highest standards of medical treatment is a complex and demanding endeavor that […]
Outsourcing revenue cycle management (RCM) is common among hospitals that want to improve financial performance and efficiency. Hospital revenue cycle management involves the processes from billing to payment collection. Hospitals can reduce administrative costs, increase cash flow, and focus on the mission and vision by outsourcing these tasks to a third-party vendor. Benefits of Outsourcing Revenue Cycle […]
Ensuring accurate coding and compliance reflects your patients’ diagnoses and care and encourages your facility to exceed revenue performance goals. Many hospitals don’t have the expertise, manpower, or time to establish coding compliance and an efficient workflow. Partnering with a revenue cycle management expert with industry experience and advanced technology can help boost your reimbursements […]
Key performance indicators (KPIs) offer physician practices a calibrated lens to gauge progression, pinpoint expansion opportunities, and illuminate areas primed for optimization or adjustments. These metrics act as the compass within the intricate landscape of healthcare management, navigating your course toward refined patient care, operational prowess, and continuous advancement. In this area of healthcare, KPIs […]
Hospital coding accuracy is a significant component of the claims process. It’s necessary for hospitals to ensure that they receive the correct reimbursement for their services. Best practices in hospital billing and coding processes are key to guiding coders as they navigate the complexities of chart documentation. These include staying up-to-date with coding changes, automating […]
The fast pace of the healthcare industry demands that hospitals stay in tune with the delivery of care and the technology it uses to capture the necessary information for accurate and timely billing, coding, and payment submission. Hospital medical billing can also be a source of errors, fraud, and inefficiencies that affect providers and patients. […]
The hospital medical billing process is challenging and time-consuming. It involves several components and processes; understanding them is necessary to ensure a smooth revenue cycle. Demystifying Hospital Medical Billing: Essential Terms and Concepts Hospital medical billing follows basic standards, which set it apart from other types of billing. To clear up the confusion, here are […]
With the challenges of hospital medical billing and coding, hospitals face the daily balancing act of serving their community and making ends meet. By understanding the fundamentals and intricacies of the hospital medical billing process, your organization ensures a smoother revenue cycle that allows you to focus on what you do best: providing quality patient […]
The revenue cycle in any healthcare organization revolves around multiple components, from the patient registration process through the visit, and ultimately the full reimbursement for the services rendered by the licensed healthcare provider. Whether the service is an office visit or a complex surgery, one of the most important aspects of the revenue cycle is […]
