Turning submitted medical claims into actual payments is a crucial phase for any healthcare practice. The time it takes to receive these payments directly impacts your financial health and operational efficiency. To maintain a healthy revenue cycle, it’s essential to reduce AR turnaround time and aim to clear your Accounts Receivable (AR) within a 30-day […]
Hospital bills that remain unpaid for over 90 days often stem from claims that were initially rejected by payers. Additionally, the longer a bill is initially declined, the greater the likelihood that it will take more than 90 days to be resolved. These discoveries are highlighted in a recent report by Healthcare Consulting Company, which […]
Prompt payment to healthcare providers for their services is crucial for a detailed discussion on managing macro costs, quality, and equity. Without it, addressing the issue of rising healthcare costs becomes challenging. Healthcare providers are well aware that getting paid is not an easy task. A quick search for revenue cycle management (RCM) reveals 16-step […]
New guidelines remove ambiguity for some diagnosis coding in 2023. The ICD-10-CM Official Guidelines for Coding and Reporting is updated every year, but if you’re not in the habit of reviewing the guidelines at least annually, chances are your diagnosis coding is noncompliant and your claim denial rate is high. In the general session Diagnosis […]