Common challenges for Revenue Cycle Management (RCM) leaders include denied claims, patient collections, and staffing challenges. Modern healthcare reimbursement and today’s workforce continue to evolve, expounding these challenges. This eBook offers best practices and solutions to how you can use your Electronic Health Records (EHR) system’s functionality to your advantage to: Increase collections Reduce days…
First time clean claims are a leading indicator of a practice’s revenue cycle management maturity. Medicare defines clean claims as those that have ”no defect, impropriety, lack of any required substantiating documentation—including the substantiating documentation needed to meet the requirements for encounter data—or particular circumstance requiring special treatment that prevents timely payment.” In other words,…
Many organizations we work with have identified and perpetuated a cycle of unbilled encounters by letting them go unchecked. Often, this happens when a doctor sees a patient and doesn’t mark their notes complete or lock it to signify that the encounter is ready to be billed. You’ve got the cost, you’ve done the work,…
Given the complexity of revenue cycle management (RCM), many medical practices choose to partner with an RCM company for their billing needs. RCM companies are designed to maximize revenue for medical practices. While there are perks to keeping your billing staff in-house, outsourcing your RCM allows for a team of experts to dedicate their time…