Medical practices have big plans for this year 2019. If you have planned your practice to be successful as possible, you need a better revenue cycle management system in place. Better revenue cycle management is a backbone of your practice. This system should work efficiently. Below we have suggested some tips for efficient revenue cycle management.
Electronic claim submission
You can submit your claims electronically. It used to be that hospitals and other group of physicians are filled with endless amount of paperwork. Today practically all factions can be completed online. With the help of today’s technology you should submit claims in electronic format. This is good time to invest in revenue cycle management software and outsource your billing to efficient medical billing company to make your practice’s processes as smooth as possible.
It is important that medical organization needs to be transparent with patients as much as possible. Medical billing companies provide estimated cost before any services are administered. Your patients need to be aware when all payments are due and the various types are accepted. Your employees needs to educate patients on various payment terms so there is no confusion. It helps your revenue cycle management efficient.
Business office employees can become overwhelmed with high volumes of claims denials. Registrar and appointment call representative both are not collecting correct insurance data during patient on boarding, this lead to false denials. Whenever booking appointments, you need to make sure call-center staff collect and taking right input of patient insurance information. You need to activate your financial clearance team and verify insurances on all scheduled appointments. During patient visit, ensure that you are checking for expired patient identification and insurance cards following a basic registration checklist. Your front end registration employee can save your several hours of follow-up work on preventable denials and unnecessary claims resubmission.
Contact Medisys today and let our experienced staff handle your revenue cycle management to boost your collections.
We are a group of medical billing experts who offer comprehensive billing and coding services to doctors, physicians & hospitals. We provide end to end billing and coding solutions. Medisys Data Solutions RCM solutions ensures that the providers recover every $ they are entitled to. Our vision for the providers is “You Cure. We $ecure.”