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When it comes to accounts receivable, how well do you know your cash flow? Many medical practices treat their accounts receivable (A/R) statistics as a black box of misinformation, when in reality, it’s one of the most crucial figures to comprehend when assessing your practice’s financial health. Accounting for Accounts…
Everyone has different priorities, but these are some of the things that providers actually care about the most: ROBUST ANALYTICS You should be using analytics in your practice if you aren’t already. There are many various sorts of analytics to use, but they all provide you a general picture of…
Chiropractic Billing & office management can be complicated. Especially when you factor in the ever-changing requirements and regulations having to do with health insurance and government programs. A streamlined and efficient financial process is crucial for any successful practice, and is a key to a healthy revenue cycle. Take a…
We all know how important it is to aim for 100% reimbursement to be successful, which is why collecting from patients up front is an even bigger priority. Now, take it a step further. Do you know how to effectively and efficiently secure those payment methods for future use? How…
Many organizations who have taken on credentialing responsibilities find it challenging to master the process on a macro level. Ever-changing laws and standards impacting credentialing can be difficult to stay abreast of and/or implement. One of the biggest challenges, which also has a direct impact on the revenue collection of…
Improving payer contract management by analyzing terms and assessing payer performance can maximize revenue for healthcare providers. Payer contracts contain fee schedules and reimbursement requirements, as well as the conditions payers must meet for timely reimbursement. Ensuring correct reimbursement in a timely manner is always at the top of a…
The Centers for Medicare and Medicaid Services (CMS) has proposed a rule that would affect the 2018 reporting year and beyond. The proposal offers a number of ways to help physicians avoid penalties. CMS has posted a fact sheet about its proposal. The Centers for Medicare and Medicaid Services (CMS) says over…
Revenue cycle management is the process that manages claims processing, payment and revenue generation, and often entails the use of technology to keep track of the claims process at every check point. Effective revenue cycle management will maximize the return on investment of a hospital. If you don’t have a good system in place, it can be challenging…
It’s very essential to be a provider with government and commercial insurance companies. Your practice needs steady patient referrals not to mention cash flow, but Are you mired down in the provider credentialing processes by making these common mistakes? Whether it’s a simple human error or an inefficient process, making…
How Hospitals Can Improve Their Billing and Collections Processes It’s not uncommon for hospitals to grapple with account resolution problems, and revenue cycle management is an ongoing challenge for even the best-run hospitals. In 2018, many hospitals are struggling to collect payments from not only patients, but insurance companies too.…
