Surprise Medical Bills

Improving the Patient Payment Experience

[vc_row][vc_column][rev_slider_vc alias="patient-payment-experience"][/vc_column][/vc_row][vc_row][vc_column width="1/2"][vc_column_text]Securing patient payment has always been a challenge for healthcare providers. However, higher deductible plans with more patient responsibility have made the patient payment experience of the Revenue Cycle a whole new level of challenging. The key for providers to remember is eligibility. Ensure your staff is trained in two key areas. One, how to obtain accurate eligibility for your specialty. Second, train your staff on financial options available...

Donna White
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Increased Spending

Service Spotlight: Payment Posting and Denials Management

[vc_row][vc_column][rev_slider_vc alias="pp-and-denials"][/vc_column][/vc_row][vc_row][vc_column width="1/2"][vc_column_text]Getting your reimbursement from payors is key to any successful practice. However, ensuring those payments are posted accurately and denials are worked promptly, can not only make a huge difference in your cash flow, but your practice’s overall financial health. Why is timely payment posting so important? When payments are posted within 24-48 hours of receipt, it ensures your Accounts Receivable (AR) and Days Sales Outstanding (DSO) is accurate....

Donna White
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RCM

The Future of RCM: Artificial Intelligence

[vc_row][vc_column][rev_slider_vc alias="future-of-rcm"][/vc_column][/vc_row][vc_row][vc_column width="1/2"][vc_column_text]No doubt the pandemic has shifted the revenue cycle model. However, that model had already started to change with payor contracts and fee schedules, higher patient responsibility and deductibles, and a move towards value-based payments. The Revenue Cycle needs an update to deal with the increase in healthcare technology. We see more A.I. being used in clinical treatment and triage but triaging the revenue cycle is a different...

Donna White
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CMS Spending Growth

RCM Transformation Needed

[vc_row][vc_column][rev_slider_vc alias="rcm-transformation"][/vc_column][/vc_row][vc_row][vc_column width="1/2"][vc_column_text]COVID-19 has no doubt re-shaped the way healthcare is conducted. From more telehealth visits to nurse only visits for vaccine administration, both physician office and hospital visits are not what they were two years ago. Which has all impacted the way the Revenue Cycle must be managed. Hospitals have taken the biggest hit, with major changes to their payor mix. A shift from Commercial payors to more Medicaid (a...

Donna White
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Key Metrics

Using Key Metrics in Your Revenue Cycle

[vc_row][vc_column][rev_slider_vc alias="key-metrics"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]There are industry-standard key metrics relating to your revenue cycle. From Denials to older accounts receivable, there are trends every practice should be aware of and be able to calculate. Days in Accounts Receivable (A/R) Days in A/R or days sales outstanding (DSO) is a calculation your practice can use to determine the average rate at which your practice is being paid. The lower your Days in A/R, the better. This...

Donna White
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Working Common Denials (part 1)

[vc_row][vc_column][rev_slider_vc alias="common-denials"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Depending on your practice, there may be several types of top denials. In today’s article, we are going to review best practices for follow up on some of the most common denials, regardless of specialty. Coverage Termed/Expired Per the EOB, the patient’s service denied as Coverage Termed or Expired at the time of the service. In your practice management system, check the Insurance Screen’s eligibility area to see what eligibility information...

Donna White
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Dealing with Rejections and Denials

[vc_row][vc_column][rev_slider_vc alias="rejections"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Finding the root issue of denials and rejections is essential to keeping a consistent cash flow for your practice. Many times, rejections and denials can be avoided through simple changes to daily processes. Denials and Rejections -- what's the difference? Before we get into ways to fix issues that cause rejections or denials, we need to know that there's a difference between a rejection and a denial. A rejection is a...

Donna White
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Checklist

The Ultimate Revenue Cycle Checklist

[vc_row][vc_column][rev_slider_vc alias="ultimate-checklist"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Understanding the revenue cycle for your practice can seem like a mystery. But there are several areas you can focus on to make sure your revenue cycle stays under control. 1. Charge Entry Make sure your claims are as clean as possible prior to submission. It is more complex than just keying charges from a superbill or importing charges through your EMR. Each payor has different requirements for submitting clean...

Donna White
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Expected RCM Growth

Expected Revenue Cycle Growth through 2020

[vc_row][vc_column][rev_slider_vc alias="expected-rcm"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]A recent article from Global News Wire anticipates a 12.89% growth in the Revenue Cycle Management industry over the next four years. And there are many reasons more and more providers are deciding to outsource their medical billing and collections. Expertise It is often more cost effective to bring on a medical billing company to take over the Revenue Cycle than to hire the staff to work billing, collections and accounts receivable...

Donna White
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