Revenue cycle management (RCM) is an important, financially-driven process in healthcare that allows providers to receive reimbursement for care in a timely and efficient manner. Healthcare revenue cycle management is the step-by-step lifecycle from when a patient books an appointment until the practice receives full reimbursement for the claim. The cycle begins with setting the …
What Is Healthcare Revenue Cycle Management (RCM)? Read More »
If you’re looking at your bottom line to find ways to increase practice revenue, read this article to learn how to improve revenue cycle management.
As a therapist or healthcare professional, you will likely encounter superbills in your practice. These documents are critical for helping your out-of-network patients get reimbursed for their care. What Is a Superbill? A superbill outlines the services you provide to a client or patient. It includes detailed information for those services, including CPT codes, ICD-10 …
When we talk about the importance of improving your revenue cycle management (RCM), we often frame those improvements within the context of your business and income. Increasing revenue, saving time and reducing administrative costs are the major benefits of strengthening and streamlining your RCM process. But there’s another benefit to RCM improvements that we don’t …
How Improving Your RCM Will Also Boost Patient Satisfaction Read More »
Insurance claim denials are a massive financial headache for private practices today. In essence, a denial is a threat to your income. And when denials pile up, they affect your practice’s financial health. Practicing denial management in healthcare can keep your business on track and help you focus more of your time on patient care. …
When running a private practice, most of your time centers around patient care. But at the end of the day, you still need to get paid. And that requires some kind of medical billing team. While some practices outsource their billing, you may determine that keeping your medical billing team in-house is the best option …
How to Build a Successful Medical Billing/RCM Team Read More »
Medical bill denials by insurance payers disrupt a practice’s ability to help patients. Here are 5 essential tips to mitigate this risk.
The patient billing experience plays a crucial role in your practice’s success and RCM. Learn how to optimize your patient billing process.
Burnout. It was the buzzword of 2021 and now, in 2022, it’s still ringing in our ears every day. Especially in the healthcare industry. In late May 2022, the U.S. Surgeon General issued a milestone report proposing solutions for the burnout problem plaguing healthcare. The advisory notes that there is a projected shortage of three …
One wrong digit can cause your claim to be denied. Learn about claim scrubbing and how it can lead to more revenue for your medical practice.
