To increase practice revenue, you need to understand that financial success depends on developing better work processes instead of just increasing staff work hours. The traditional method requires workers to put in more effort, but proper revenue cycle management (RCM) allows your team to work better because every team member
Is your practice constantly faced with the problem of undercoding? Undercoding in healthcare is defined as the process of medical coding wherein the codes used are not reflective of the full extent of treatment that the patient received. It is often the result of failing to abstract every code from
What’s worse than having a stubborn patient? For a practice, it’s having no patient at all. Patient no-shows and cancellations are the bane of medical practices. They leave you unable to meet your daily target, cause undue stress and chaos, kill minutes of your time and consequently, the profit you
It’s inevitable for practices to come across patients with insurance problems every now and again. These can range from patients simply being confused about why they have to co-pay or don’t understand their explanation of benefits statement; to irate patients who refuse to pay or withhold payment that was mistakenly
To outsource or not to outsource? That is the question that a lot of medical practitioner’s face when it comes to their billing. After doing billing in-house for years, some practices may find shifting to outsourced medical billing services as more of a risk, as it turns majority of the
It’s a fact that a large part of a practice’s revenue comes from successfully processed claims. And it’s also a fact that even one small error in the processing of these claims can mean immediate rejection or denial, and the loss of revenue. These facts are the reason why it
