The Key to Optimizing Healthcare Finances through Revenue Cycle Management (RCM) The Importance of Revenue Cycle Management (RCM) for Healthcare Providers’ Success Revenue cycle management (RCM) is a crucial process in the healthcare industry, as it involves managing all aspects of healthcare billing and payment processes, from patient registration to payment collections. RCM is critical […]
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Interested in Stopping Revenue Leakage? Firstly, Let’s Define Revenue Leakage “Revenue leakage” describes circumstances wherein a healthcare provider has supplied care to a patient but doesn’t collect payment. In general, it happens when accounts receivable (AR) continue to be unpaid for too long and are inadvertently overlooked. The longer an account receivable remains outstanding, the […]
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The healthcare industry is changing rapidly, creating a host of challenges for healthcare providers. Cutbacks in reimbursements, bad debt and regulatory reforms all affect a provider’s revenue. Moreover, the failure to recognize claim submission mistakes heightens the risk of inadequate reimbursement and even nonpayment. While concentrating on ever-pressing needs, it’s difficult for providers to spot […]
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Revenue Cycle Management Challenges If a healthcare provider doesn’t set up an efficient billing process, it runs the risk of losing quite a bit of money. With high-deductible insurance plans becoming more widespread, patients are shelling out additional money out of pocket. Or, if the patient is uninsured or underinsured, problems arise since there’s not […]
A/R, A/R Process, A/R Recovery, Accounts Receivable, Healthcare Billing, Healthcare Outcomes, healthcare revenue cycle, Measuring Healthcare Outcomes, Medical Billing, medical claims, Medical Revenue Cycle, Patient Billing, Patient Collections, Revenue Cycle ManagementHealthcare Practices Save Money with Higher Accuracy of Medical Claims Reimbursement for medical practices has been impacted by numerous trends and healthcare industry changes over the past five to ten years. Medicare and Medicaid are constantly cutting physician reimbursement, third-party payers (UnitedHealth, BCBS, Humana, Anthem, Aetna, Cigna, etc.) have bargained for fee-for-service contracts with healthcare […]
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