Tag: Accounts Receivable Management

Accounts receivable services

The Crucial Role of Accounts Receivable Services in Healthcare Practice

Accounts receivable (AR) services are often overlooked but play a crucial role in the financial health of any business. These services involve managing the process of collecting outstanding payments from customers for goods or services sold on credit. Effective AR management can significantly impact a company’s cash flow, profitability, and overall financial stability. The Importance […]
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physician practice RCM

RCM in Physician Practices: Key Steps Revealed by AMA

Physician RCM: This guide dives into key areas physician private practices can target to strengthen their revenue cycle management (RCM), as outlined by the American Medical Association (AMA) in recent News. By optimizing these eight steps, practices can ensure timely and accurate reimbursement for services provided. 1. Patient Registration: Accuracy First The foundation of a […]
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reduce accounts receivable

5 Essential Tips to Reduce Accounts Receivable Turnaround Time

 When your medical practice submits a claim to a payer, the countdown begins until you receive the payment. Ensuring timely payment is crucial for your business, as delays can have costly consequences. Ideally, you should aim to clear accounts receivable within 30 days. To effectively reduce accounts receivable, it’s essential to implement efficient billing processes, […]
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