No matter how much physicians loathe the process of having to engage in a back and forth conversation with the healthcare insurance provider before going through with the medication or procedure, prior authorization as of now is mandatory. What is prior authorization? While deemed as an insult to the qualification and integrity of the physicians, … Read morePrior Authorization: Implementation And Complications
Dispensing quality care and treatment to the patients has always been the primary goal and concerns of the healthcare industry. Every year we come across latest technological advancement that further streamline the care process. One such most recent term in the health ecosystem is interoperability. What Is Interoperability? Enforcement upon healthcare providers to switch from … Read moreHealthcare API And Interoperability: What Do You Need To Know?
The efficiency of the billing and coding process can not be stressed enough with the value-based care now in action. The shift to patient financial responsibility is further pressuring the healthcare practices to work on improving their billing processes. Similar to any industry in the market, healthcare too needs to set up and work over … Read moreHEALTHCARE REVENUE KPIS TO KEEP TRACK OF
With the continuously evolving healthcare policies, including more patient responsibility and increasing the intricacy of the already complex healthcare landscape, ensuring a sound revenue cycle management is becoming a back-breaking task for the healthcare operators around the nation, but there is no scope for mistakes. Practices and providers have to ensure that billing and claim … Read moreREVENUE CYCLE PARALYSIS: OPTIMIZE IT
The US healthcare system has drastically changed and how! No longer is only the provider bearing the burden of financial responsibility, with the liability now shifted more towards the patients. Furthermore, the high deductible policies and the yearly escalation of the number of co-pays and insurance, the out of pocket expense for the patient’s have … Read moreTIPS TO IMPROVE PATIENT COLLECTION
IMPROVE RCM WITH PATIENT ACCESS AUTOMATION Importance of patient access How accessible are your treatment, care, and other services to the patient, is essential to maintain the financial health and reputation of your healthcare practice. This is termed as patient access. It gives the patient and the caregiver the freedom to take charge of their … Read moreIMPROVE RCM WITH PATIENT ACCESS AUTOMATION
IMPORTANCE OF AR MANAGEMENT Account receivables follow-up play a crucial role in the medical billing and coding process, ultimately impacting the revenue cycle. They make sure that the insurance providers pay the payment owed without disrupting the flow of revenue cycle. With the aim to reopen a denied claim to get maximum reimbursement, the job … Read moreDON’T MAKE THESE AR MANAGEMENT MISTAKES
Per Annals of Internal Medicine findings from a retrospective population-based analysis, Medicare Advantage users, had higher risk-adjusted 30-day hospital readmission rates compared to traditional Medicare beneficiaries. Hospital admissions were compared for three common medical conditions. Hospital readmissions are one of the significant reasons behind the decline in healthcare organization’s revenue. No hospital wants their patient … Read moreHOW TO KEEP A CHECK ON HOSPITAL READMISSION?
Per the Global Market Insights analytical report, the Global Healthcare Data Interoperability Market will surpass USD 3.5 billion by 2025 with North America expecting a compound annual growth rate o of 8.8%. Semantic Interoperability is anticipated to escalate at CAGR of 9.5% in the forecast period, and cloud-based healthcare interoperability market is also expected to … Read moreHOW INTEROPERABILITY FURTHER IMPACTS RCM?
What an overwhelming year it was for the healthcare professionals and medical revenue cycle management? The value-based care, interoperability, shifting financial responsibilities to patients, it won’t be an understatement to say that the healthcare revolution by digitization is starting to reflect its impact on the revenue cycle management. Also, what a start to the 2019 … Read moreHOW CAN YOU MAXIMIZE YOUR PRACTICE’S REVENUE?