The state of the economy, with a rise in unemployment and so many companies shut down in the wake of the global coronavirus pandemic is putting financial pressure on many individuals. Health practices are not immune to pandemic-related downturns either. So in the face of more and more denied claims, it makes sense to put some effort into reducing their number, for the sake of the financial strength of your organization.
Healthcare providers looking to increase cash flow are right to pay close attention to their computer and software systems. That’s essential for making sure they’re using the correct tools for critical jobs. Owners and managers are aware they should know the reason for having a particular application installed and why your staff is using it.
Learn why patient engagement is a necessity and how you can master it within your practice.
Easing pain caused by injury, disease, chronic condition, addiction, or any combination of these is a noble and rewarding pursuit that involves skill, determination, and an eye for patients’ reactions and body language.
How is the flow of revenue in your healthcare practice these days? Or more precisely, how is your revenue cycle management progressing?
Medical billing is time-sensitive and complex. This presents difficulties for practices, especially those with smaller staffs and a limited budget.
Clinics, practices, hospitals, and other medical establishments often need to take second looks at their processes, especially those that involve revenue, workflow, and efficiency. Not surprisingly, exploring the possibility of transitioning to a revenue cycle management (RCM) service company is often a result of those second looks.
Once a progressing form of medical care, telemedicine has rapidly developed into a practical option for many healthcare providers today. One recent report by the AMA stated that telehealth adoption is growing at a rate faster than any other type of medical care solution, experiencing an overall growth of 53%.
The bureaucracy and behind-the-scenes machinations of the medical billing process means the revenue cycle is much more complex than in the days before the industry began adding software automation tools to the mix.
COVID-19 has produced fertile ground for hundreds of labs that are opening, hoping to ride the testing wave. But the fertile soil in and of itself doesn’t necessarily produce a successful crop. It requires thought, attention, and TLC for the planting to be fruitful.
Where is it written that your medical organization has to conduct billing services in-house?