Savvy medical practice managers know how important it is to remain current on nationwide economic developments that could affect the bottom line of their medical practice.

Despite their noble calling, practitioners of the healing arts require compensation in a timely manner just like everyone else. In order to get paid on time, however, medical practices must keep on top of their billing practices. Using solutions such as revenue cycle management software and third party billing firms can help boost your medical practice to the next level. The more your organization grows, the more you can stand to benefit from using specialized software tools and working with medical claims experts.

The following excerpt is from an article found on Revcycleintelligence.com. It was written by Jacqueline DiChiara. ---------------------- “The front-end of the revenue cycle must be diligent with determining Medicaid eligibility and assist uninsured patients understand their coverage options with the insurance exchanges." RevCycleIntelligence.com recently polled over 60 readers to assess revenue cycle management challenges and opportunities, from the front-end, to the back-end, and everything in between.

The following excperpt is from an article found on RevCycleIntelligence.com. It was written by Jacqueline DiChiara. -------------------------- 2016 may be a big year for revenue cycle management. Healthcare organizations see steady claims denial post-ICD-10 implementation and remain focused on value-based care models. Healthcare organizations are focused on strengthening revenue cycle management processes in a post-ICD-10 environment, according to Porter Research and Navicure’s national ICD-10-centered survey.

Getting paid in a timely manner shouldn’t have to be a problem for your thriving medical practice. Office managers and physicians will want to select a medical billing software provider with an eye toward speeding up cash flow and boosting the organization’s bottom line, of course. The trick is in identifying the best provider for your particular practice. With that in mind, here are eight tips to help you and your stakeholders choose a medical billing software provider.

The challenges involved in providing outstanding healthcare resources to members of your local community will naturally decrease when you take steps to lower the workload on your staff. This is particularly the case when it comes to cash flow and managing revenue cycle management tasks. Handling billing in-house may have been your best option when the medical practice was just being launched. However, as the years go by and your practice goes through changes, it’s prudent to consider outsourcing medical billing services.

The following excerpt is from an article found on Medium.com. It was written by Hannah Williams. ------------------------ Revenue cycle management (RCM) can be defined as the process of handling claims, processing payment and generating revenue in the healthcare industry. It begins just at the time when a patient makes an appointment and continues till the balance on his account becomes zero. It includes various steps like checking patient insurance eligibility and coding claims.

Efficient revenue cycle management is at the heart of your organization’s continuing success. Whether you use your own standalone RCM system at your facilities or you outsource this important task to a third party company via cloud computing, it pays to stay on top of emerging developments that pertain to the billing process.

The most successful medical practices don’t reach their position in the industry without paying close attention to all aspects of their revenue cycle. Of course, success is based on numerous factors and not just on the financial side of things at your organization. You may have assembled a group of highly dedicated medical professionals who are at the top of their game. You also have a large base of satisfied and loyal patients, many of whom also happen to refer new patients to you. What’s more, the demographics of the community you serve may even include many professionals with abundant resources and no problems paying their bills on time.

When your medical practice was in its early stages, the most logical solution was to handle all the medical billing on your end. As your practice picked up more patients and you added more professionals to the staff, billing would naturally become a much larger and more complicated set of tasks than you were initially prepared for.