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What Is Healthcare Revenue Cycle Management (RCM)?

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 …

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7 Ways to Prevent Medicaid Claim Denials

If you’re one of the 71% of U.S. providers who accept Medicaid, it’s essential you understand the billing complexities of these Government-run plans. Your practice revenue depends on it. Medicaid provides health insurance coverage to 87 million low-income adults and children, and adults with disabilities. Like all insurance plans, Medicaid has quirks that can trip …

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6 Ways Digital Health Companies Can Improve Patient Financial Engagement

No one likes receiving bills, no matter how much they are. When were you last excited about an invoice you had to pay? Like it or not, invoicing customers or patients is part of running a digital health company. And while you may not be able to induce excitement around your billing and invoices, taking …

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Psychological Testing: Common CPT Codes and Best Practices for Submitting Claims

As a psychologist or mental health professional, testing and diagnosis are critical to the care you provide. But to continue that care, you must get paid — or reimbursed —- appropriately.  Like much of the billing and revenue cycle management (RCM) process, coding your claims can take some time to master. In this guide, we’ve …

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How Improving Your RCM Will Also Boost Patient Satisfaction

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 …

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What Is Denial Management?

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. …

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How Revenue Cycle Automation Can Reduce Workload, Ease Burnout and Grow Revenue

You’ve undoubtedly heard the buzz around automation in the healthcare industry. But the buzz is perhaps loudest when addressing needs within revenue cycle management (RCM). Technology, billing and RCM organizations are working every day to improve the time-consuming and often frustrating tasks required for insurance reimbursement.  Why all this focus on revenue cycle automation? Because …

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Should I Hire a Biller for My Practice?

If your practice has crossed the bridge from self-pay to in-network, you’re likely familiar with insurance billing. It’s a necessary process — without it, you won’t get paid for the care you provide.  But how familiar do you want to be with that process?  No matter your practice size, there will come a time when …

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