Ever since medical billing and coding went digital, many practitioners assume that the chances of mistakes have been more or less eliminated. Those who run small medical practices know that is not the case. Since the arrival of the Affordable Care Act, your revenues have probably been going downhill, and your billing and record keeping has probably grown far more complex.Read More
The financial health of a medical practice is every bit as important as the health of its patients. The financial managers of large practices, charged with ensuring profitability, have their work cut out for them. Between third-party payers, patient co-pays, deductibles and self-pay, conquering the revenue cycle requires focus and dedication if a practice is going to thrive. To ensure the business maintains the highest cash flow possible, periodic evaluations of patient collections will help uncover any disorganization infecting the process that results in more work for less return.Read More
Revenue cycle management is dynamic, with best practices on collecting patient payments shaped by new information that helps inform healthcare practices on how to operate effectively.Read More
This week, healthcare debt made the news in a big way.
John Oliver, host of the HBO show “Last Week Tonight,” out-Oprahed Oprah with a giveaway worth nearly $15 million dollars, by far the largest in television history.Read More
Claim denials hit medical practices where it hurts. Several studies estimate the claim failure rate to be near 20 percent. With about one in five healthcare claims failing to go through, providers are forced to slog through the denial management process to ensure they’re getting paid for their services rendered.Read More
According to a 2015 Availity study, 91% of providers agree that balances that are not collected upfront become increasingly harder to collect. If that's true, why are so many providers still missing out on point of service patient payments?Read More
Topics: Revenue Cycle Management
The patient billing cycle is broken. What used to take maybe just 30 days to collect can now take up to 100+ days or more, if you’re able to collect at all.
Healthcare payments are stuck in the past. As a result, providers who practice the same approaches to collecting patient payments are suffering. Revenue cycle management relies on technology that is robust enough to deliver a modern approach to healthcare payments than what has been delivered in years past.Read More
In a recent survey by TransUnion, a shockingly low number of Americans revealed that they felt that their healthcare provider was “clear and upfront” about the cost involved in their care.
Let’s face it – we do not have the tools nor the infrastructure (especially small to mid-sized groups) to provide the level of transparency that the healthcare consumer expects.Read More
Collecting patient payments in a complex, more financially strapped health economy is a team effort. This presentation will tackle patient payments with 6 easy steps to increase accountability in the patient revenue cycle among your entire team.Read More