The healthcare industry has long buzzed about the potential of Artificial Intelligence (AI) to revolutionize financial operations and internal workflows. However, for practical solutions tackling the complexities of RCM, intelligent automation offers a more realistic path forward. Why Intelligent Automation Over AI? True AI strives to mimic human cognition, but it remains in its early […]
The importance of Revenue Cycle Management (RCM) is no longer just a best practice in today’s ever-changing healthcare landscape – it has become a necessity. In a market where costs are rising, regulations are becoming more complex, and patients are becoming more responsible for their own finances, optimizing the revenue cycle is essential to maintain […]
RCM Company has been at the cutting edge of making a difference in healing centers and wellbeing frameworks addressing patient-involved (coordination of benefits) and clinical dissents, recouping on low-balance accounts, and resolving complex claims. Getting these ranges of the income cycle settled rapidly and effectively is becoming tall need these days, as healthcare providers confront […]
The Medicare Advantage and Part D rule was implemented on January 1 by CMS. Despite the fact that the Medicare Advantage and Part D rule which came into effect on January 1, 2019 is now in effect, it is quite early to tell whether 2024 will be the year when providers finally overcome the challenges […]
As revenue cycle technology has evolved, artificial intelligence has evolved from a buzzword into an established presence. Leaders in the revenue cycle and finance are looking to AI to automate tasks and streamline processes, allowing them to make better use of their staffs as the sector-wide shortage of staff persists. The healthcare media previously spoke […]
According to a survey, claim denials are considered the biggest obstacle in revenue cycle management, with over 20% of providers reporting an annual loss of $500K due to these denials. A recent survey of healthcare leaders conducted by leading medical billing company revealed that claim denials are causing a significant and costly issue for healthcare […]
Whether you’re a primary care doctor, a specialized medical professional, or an integrative health provider, the intricate landscape of insurance billing frequently presents not just an administrative inconvenience, but, if not managed effectively, it can also hinder the growth of your practice and revenue stream. Recent data reveals that the rate of claim denials stands […]
Revenue cycle leaders were asked to rank the most time-consuming tasks at their organization, and the results aren’t surprising. 556 chief financial officers and revenue cycle leaders at hospitals and health systems across the United States were asked to rank the most time-consuming revenue cycle tasks at their organizations in a new survey commissioned by […]
KEY TAKEAWAYS Denials rose to 11% of all claims last year, up nearly 8% from 2021. Revenue cycle leaders should place their focus on clinical validation denials to help ease the overall denials burden. A key defensive strategy for preventing denials is provider education. Revenue cycle leaders need to understand that clinical validation denials are […]
Healthcare Leaders believe that Artificial Intelligence (AI) and Automation have the capability to transform the revenue cycle management process the way we think. Only a robust and durable revenue cycle automation solution is needed to handle all complexities involved in patient eligibility verification to the denial management process. Healthcare provider needs several key steps to […]