An effective revenue cycle management system must have accurate medical billing and coding. In addition to being essential for compliance, accurate billing and coding are also essential for minimizing claim rejections and denials. ————————————————————————————- Even the smallest deviation in documentation can leave huge gaps in the revenue stream in today’s value-based healthcare environment, where … Read moreHow Does Medical Coding Affect the Revenue Cycle?
To maintain stability and increase cash flow, healthcare facilities must ensure that claims are processed correctly and reimbursed promptly. ————————————————————- Community hospitals in the US alone provided uncompensated care totalling $41.6 billion in 2019. Even though this number seems large, numerous other factors contribute to healthcare organizations’ massive debt, which harms their profitability. We … Read moreTop 5 Ways to Optimize Hospital Revenue Cycle Management
Consider outsourcing your coding if you want to increase the precision, speed, and consistency of your medical coding and billing. This strategy offers a wide range of advantages that make it an intelligent choice for many healthcare businesses. The submission of medical claims and correct and effective medical coding is essential to your healthcare … Read moreBenefits of Outsourcing Hospital Medical Coding
In the healthcare sector, omnichannel is the hot topic of the town! As talked about the value of omnichannel to healthcare providers in the previous blog, we’ve learned how it may transform the patients’ experience to a different level. But with rising omnichannel jargon floating on the internet, it’s important to differentiate: Omnichannel car delivery … Read moreOmnichannel Care Delivery vs. Omnichannel Engagement
Numerous facets of daily life, including how we currently obtain healthcare and how it will be consumed in the future, have been altered by the COVID-19 epidemic. Did you know? The deferral or cancellation of elective procedures and the release of non-COVID patients are two major causes that are expected to result in a … Read moreThe Value of OmniChannel to Healthcare Providers
Photo by Andrea Piacquadio Since technology took the landscape by storm, innovations started taking place in every industry. And the healthcare sector is not an exception! Infusion therapy was once only available in hospitals, but patients today have access to various infusion service alternatives, including stand-alone infusion clinics. These stand-alone centres give patients freedom, convenience, … Read moreStand Alone Infusion Centers: How Do They Help You to Improve Your Health?
Let’s cut to the chase! According to a study published in the Journal of General Internal Medicine in 2019, 137.1 million Americans suffered from “medical financial difficulty” in the preceding year. That’s a staggering figure to consider if you’re currently dealing with unpaid medical bills — this isn’t a problem you’re facing alone. Many others … Read moreHow not paying your outstanding provider/hospital bills can affect you?
Hospitalization can be a nightmare due to rising medical costs for the middle class. To protect ourselves financially, we must evaluate the best health insurance covering the insured’s financial issues. Unfortunately, health insurance is the most undervalued insurance in India because it doesn’t pay out unless you get sick. While no one likes to be … Read moreHow to best utilize your healthcare plans to reap maximum benefits?
The health care system relies heavily on revenue. Due to the increased demand for documentation and patients who elect to pay a co-payment, everyday providers confront issues collecting money from insurance and patients. Here are some efficient techniques to maximize collections from patient services billing that will make it easier for providers to maintain their … Read moreWhat are the best practices to ensure maximum collections and avoid chasing the patients?
The coronavirus pandemic has had a significant economic impact on the United States. Layoffs and budget cuts have led to huge unemployment, with over 16 million unemployment applications submitted in only three weeks. Surprising…isn’t it! But that’s an inevitable fact and things get worse when it comes to paying your healthcare bills! This is where … Read moreHow to pay your healthcare bills after losing your job?