The Impact of Health Information Management on RCM
Health Information Management
Revenue Cycle Management
How to Reduce the Cost to Collect in Hospital Revenue Cycle Management
Hospital Revenue Cycle Management refers to the process of managing the financial aspect of healthcare operations, from patient registration and insurance verification to billing and collections. Revenue Cycle Management Services are a crucial component of running a successful healthcare facility, as it helps ensure that the hospital can receive the reimbursement it is owed for …
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Patient Eligibility and Insurance Verification
As a healthcare provider, accurately verifying a patient’s insurance coverage and eligibility is crucial for ensuring that both the patient and the healthcare facility are protected. Not only does this process help to ensure that the patient receives the necessary medical care, but it also helps to prevent financial issues or disputes from arising. In …
Choosing the Best Revenue Cycle Management Outsourcing Firm
While looking at the Mission Statement of Healthcare Organizations, it is clear that they come in many sizes and shapes. However, the heart of all those Missions is to provide high-quality, patient-centered care. Yet the intention is straightforward; the act of delivering on the promise is not. Regardless of size, the facilities, and the in-house …
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How to Beat Increasing Denials with Better Revenue Cycle Management Practice
For hospitals to get paid for their care, revenue cycle management (RCM) processes must evolve along with the healthcare system. According to a recent study, claim denials have increased by nearly 50% over the last five years, costing hospitals billions of dollars in lost revenue each year. There are many reasons for an increase in …
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Clinical Documentation Errors- How to Get Rid of It from RCM Process
How often do you come across clinical documentation errors? If you are working in healthcare, then you should know that these errors are common and they can cost patients their lives. Clinical documentation errors occur when doctors or nurses write down incorrect information about patient care. They can include things such as wrong medication doses, …
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Strategies to Prevent Patient Bad Debt in Revenue Cycle Management
Are you encountering difficulties in recovering medical bills from patients? If your patient is financially stressed and unable to pay the medical bill at the time of service, the payment gets delayed. Delayed payments end the long-term relationship between the patient and the provider. So medical health care providers and insurance providers must know how …
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Effective Strategies for Boosting Medical Reimbursement
The pandemic has forced healthcare providers to change the way they operate. One of the most significant changes has been handling medical billing services and health insurance reimbursement. With so many patients unable to pay their bills, providers are looking for ways to boost medical reimbursement benefits and minimize bad debt. One way to do …
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How to Improve Revenue Cycle Management in Healthcare?
Unlike other businesses in industries, healthcare has multiple responsibilities on its account; the one we know is saving lives and treating patients, and the other one is to develop successful processes and policies for financially staying healthy. However, it’s not simple; as said, the process involved in balancing the two sides is not complex but …
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