A recent survey showed that nearly three-quarters of health systems in the US deployed revenue cycle management technology.
Do you dedicate resources to analyzing payment accuracy? Lots of practices don’t – and are putting too much faith in payers to reimburse in full on every claim they complete.
In today’s healthcare system, the two most important things every healthcare provider should keep a big eye is on delivering quality care and improving patient outcomes.
Payment posting in medical billing is considered one of the most common challenges faced by the majority of healthcare service providers. It is almost impossible to complete the process of reimbursement without the payment posting by these medical billing agencies.
Finding the best physician for your healthcare practice is a time-consuming task. It often leaves most practices exhausted with the process by the time they get to provider credentialing. The unknown mistakes that are made during this step in the RCM process will affect your practice’s revenue flow. This article explains to you all about physician credentialing and the importance of doing it.
Revenue cycle management (RCM) is a crucial part of healthcare IT which ultimately lowers your administrative costs while improving the revenue cycle and reimbursement. The rapid growth of RCM has just turned from $80 billion in 2016 to $120 billion today and also it will continue to attain huge growth in the future. Why patient access is important in the RCM system? Here is all about the importance of ensuring patient access in revenue cycle management.
For the healthcare industry, that relies more on patient payments, healthy patient collection and secure communications are essential. As technologies grow each day, the adoption of high deductible health plans has healthcare providers depending less on payments from payers and more on payments straightaway from their patients.
Today, patient engagement plays a crucial role in revenue cycle management. Every part of patient interaction like the check-in process, clinical experience, and medical billing process will influence a healthcare practice RCM. Especially, patients feel too frustrated with their medical bills for various reasons. Physicians and large medical practices need to maintain a better relationship with their patients. So, here is what healthcare providers can do with improving patient engagement in RCM.
The outbreak of COVID-19 in the US has dramatically altered the 2021 healthcare landscape and has been a major cause of concern for healthcare organizations across the nation. Even though the government and payers have put in place programs to help alleviate RCM challenges presented by COVID-19, the healthcare practices and medical centers continue to face financial challenges raised due to the effect of COVID-19.
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