revenue cycle management Blog posts
Insights: Owning It! Strategic planning, navigating M&A, and staying independent in healthcare today
Data analytics has become vital in today’s health insurance environment. It not only offers insurers the opportunity to harness lots of data to effectively deter fraud, waste and abuse, it also helps them identify areas to improve quality and reduce cost.
Reducing your staff hours spent confirming appointments has never been so easy! Moreover, an electronic copy of every email can prove your patient received and read his or her reminder.
Despite what doctors learn in medical school about patient billing practices (i.e., keep it in-house), times are changing. Billing is now as complicated as anything else about the business of running a medical practice.
Are you prepared for the value-based health care model? It’s already here but it’s still 2-3 years away from being fully implemented, so now is the time to get prepared so that your practice and your staff are ahead of the game and ready to maximize profitability and sustain growth.
Although the specialists mainly take care of your office’s billing and coding, another of their specialties is helping you run your business more smoothly. One of the most important medical practice management services we offer is how to keep your practice and patient data secure.
When you think of good medical practice management, you likely think of all the things you can do to keep your bottom line strong, such as going paperless or being more efficient. Of course, steps such as those are crucial, but it’s easy to overlook another aspect of good practice management that’s just as essential: avoiding mistakes.
Simply put, a workflow is the pattern and amount of work that comes in and goes out from your office and staff. The key to a good flow is to eliminate those tiny sources of inefficiency, such as inconsistent medical billing or collections, before they begin to inconvenience patients, disrupt your practice, and hinder profitability.
Medical billing and coding are complicated. For many medical practices, they are often overwhelming when combined with all the other responsibilities your staff has. If this process is plaguing your practice, a structured revenue cycle management (RCM) system may need to be implemented to help your practice operate more smoothly and optimize cash flow.