The effectiveness of revenue cycle management relies on a proactive approach that integrates key performance indicators (KPIs), benchmarking, and frequent performance evaluations. The revenue cycle plays a crucial role in the long-term financial sustainability of healthcare practices as it impacts all areas of their operations. To enhance revenue and streamline processes, healthcare practices are adopting […]
As healthcare providers, ensuring that your accounts receivable (A/R) is properly managed is crucial to the financial health of your practice. However, managing healthcare A/R can be a daunting task, especially when it comes to follow-up on denied claims. In this ultimate guide, we’ll provide you with best practices to effectively manage your healthcare A/R […]
Insufficient implementation of revenue cycle management (RCM) strategies may result in disorderliness. Conversely, optimizing RCM in conjunction with billing and collection procedures can mitigate the difficulties, leading to amplified revenue for the practice. The Role of RCM in the Healthcare Sector RCM encompasses both the clinical and business aspects of healthcare institutions, linking patient care […]
A strategic approach to patient-centered revenue cycle technology strategy should be enabled by predictive analytics and machine learning to help customize the payment experience, refine communication messages, and give proper feedback to continually improve back-end processes. The path to financial health for hospitals and health systems has shifted and is rematerializing in a way that […]