While you are working hard to protect the health and safety of your staff and patients during the battle with the novel coronavirus responsible for COVID-19 infections, you also need to pay attention to your bottom line and the financial health of your organization. Amidst uncertainty about how we will weather the global pandemic from a medical perspective, we have to prepare for the financial impact as well.
It’s essential to pay close attention to the flow of revenue in your healthcare organization. And to that end, prudent managers will make sure that they use the right tools to gain insight into the revenue cycle and to manage the details.
Learn why patient engagement is a necessity and how you can master it within your practice.
Your healthcare organization needs tighter control over the flow of revenue and you are now preparing to deploy Revenue Cycle Management software in 2020. If you’re new to RCM applications or are curious about how RCM will integrate into your company’s existing computation infrastructure, it pays to become more familiar with the software and how it works. To help guide you in the decision-making process, here are the top features to look for in Revenue Cycle Management software for 2020.
The Electronic Medical Record The electronic medical record (EMR) has been evolving from the early days before the technology revolution took off after the turn of the century. The federal mandate that took effect on January 1, 2014, required the medical world to begin using electronic medical records for "meaningful use" as outlined by the mandate.
Reimbursements and Impatient Receivables Not a typo. With insurance reimbursements decreasing, providers are becoming impatient about ever-increasing patient responsibility amounts after insurance. Two things are needed: a way to ensure maximizing insurance reimbursements without over-coding, and an ability to accurately determine - in advance - what the patient will owe.
Medical Billing: Claim Submission and Follow Up "Medical billing is the process of submitting and following up on claims with health insurance companies in order to receive payment for services rendered," as stated on HBMA. Without submitting clean claims on a timely basis, it doesn't matter how many patients you see or how many services you render.
Radiology Information Systems (RIS) are essential software tools for radiological centers, groups, and clinics. Besides providing the software to securely store and access images and videos from scans, what do all the top RISs have in common?
Forecasts for Health Care Technology One area that is on the front burner of health care is the "push toward truly digitized health care," as found on Forbes. At Advanced Data Systems Corporation (ADS), we are hearing and reading how providers are "feeling the pain" with electronic health record (EHR) integration. We are here to help providers meet the challenges, and learn how to get the advantages an EHR offers.
Substance abuse treatment centers are finding it’s become a complicated - even dangerous - world of reduced insurance reimbursements resulting in continually increasing patient / client receivables. In some cases, personal responsibility amounts are equaling, or even exceeding, what insurance reimburses.
Advanced AI Creating New Avenues of Healthcare Efficiencies First, there was artificial intelligence (AI) that made machines capable of following mathematical directions to capture and store intelligence. Then came machine learning (ML), which advanced the machine intelligence to use collected data to make predictive solutions. We now have deep learning, a more intelligent subset of ML that is based on the human brain. As found on Medium, "Artificial Intelligence would be the bigger, encapsulating circle that contains Machine and Deep Learning".