Tag: Physician Practices

outsourcing Revenue Cycle Management

Outsourcing Revenue Cycle Management Services: A Solution for Independent Physicians

Independent physicians, while passionate about patient care, often find themselves entangled in the intricate web of financial management. This has become increasingly challenging with the shift towards value-based care and the growing complexity of payer contracts. Outsourcing Revenue cycle management (RCM), the process of managing financial operations from appointment scheduling to claim settlement, has emerged […]
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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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value based care strategies

 7 key strategies for value-based care in Physician Practices

The Centers for Medicare and Medicaid Services have encouraged physician practices to adopt a value-based care payment model since 2010, following the passage of the Affordable Care Act. A number of models have been tested in order to improve patient outcomes and experiences while reducing unnecessary healthcare expenditures by incentivizing clinicians to provide preventive, proactive, […]
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Site-neutral-A-solution-to-lower-healthcare-costs

How Implementing Site-Neutral Policies Can Help Reduce Healthcare Costs

The United States grapples with a healthcare affordability crisis, anticipating a 6.5 percent surge in costs due to inflation next year. Amidst concerns over escalating medical expenses, the deeper roots of these inflated prices often evade attention. Deficient government policies, notably Medicare reimbursement policies, contribute to consolidating the healthcare sector, ultimately driving up costs that […]
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wide range of Health care bill would impact physicians

Health care bill with a wide range of provisions would impact physicians

The Senate Finance Committee proposed that the full chamber should review a legislation that could instigate alterations in physician practices. This proposition was discussed during a 90-minute meeting on November 8, 2023, regarding the bill named “The Better Mental Health Care, Lower-Cost Drugs, and Extenders Act.” This bill encompasses diverse aspects of healthcare, including mental […]
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Optimizing Revenue Cycle Management Best Practices and AI Potential

Optimizing Revenue Cycle Management: Best Practices and AI Potential

From the inception to the conclusion of the Revenue Cycle Management (RCM) pipeline, it is imperative for practices to implement enhanced analytics and streamlined workflows. Healthcare providers have grappled with the challenge of receiving proper compensation for their services, and the current reimbursement landscape presents even greater obstacles compared to previous years. Payors are persistently […]
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ensuring-data-integrity-and-protecting-your-organization

Ensuring Data Integrity and Protecting Your Organization’s Bottom Line

Part IV in this series discusses expanding HIM’s visibility and enhancing organizational processes via authorization denial management. In my prior article, I discussed the value of payer policy management, and mentioned that “no authorization” denials represent 10-15 percent of all denials. This focused denial category presents another opportunity for health information management (HIM) professionals. HIM […]
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how-to-find-the-right-revenue-cycle-partner

How to find the right revenue cycle partner

Physicians enter into health care because they want to help care for patients, not to become business people. This can make revenue cycle management (RCM) seem like an overwhelming or complex set of steps, yet, at its essence, “it is basically about obtaining payment for services rendered to a patient,” says Kelly Dingwell, principal attorney […]
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