| Medical Billing Insights |
"Simple Solutions to Your Reimbursement Problems"
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| Thursday June 19, 2014 |
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| Is Outdated RCM Technology Behind your Falling Profits? |
Many practices across the US are witnessing steep decline including negative profitability due to payment cuts and outdated records and billing technology. They are certain that their existing RCM technology won’t be able to accommodate upcoming regulatory updates and requirements.
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| Industry Facts: |
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- According to a new survey by Black Book rankings, investment in RCM technology is increasing. Hospitals and private practices are updating RCM technology to combat rising debt levels and falling profits
- Around 87% of physician practices agree that they need to upgrade their billing and collections system
- As per Black Book rankings, the RCM software and services industry surpassed $12 billion in the ambulatory physician practice segment in 2013. This increase has been the result of high demands encountered from payment and reimbursement reforms, ICD coding challenges and sharp reimbursement cuts
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Drawbacks of having an Outdated RCM Technology:
An outdated RCM solution can lead to reduced collections, low workflow productivity, untimely patient care and decentralized operations. Read More...
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Why should Practices Optimize their RCM?
Practices need an updated RCM solution in place to get timely payments.
Read More...
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Optimizing Revenue Cycle with MBC:
MedicalBillersandCoders.com assists practices across all the 50 states in of US strengthen their revenue cycle. MBC offers RCM solutions to providers after a detailed scrutiny of their revenue cycle, finding areas of deficiencies.
RCM experts at MBC are well-trained in identifying and exposing revenue leakage by analysing the following areas:
1. Outdated processes
2. Training requirements
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| Read More... |
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| Get The Best Solutions In RCM Consultancy |
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Effective RCM Solutions |
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RCM Market to Grow 6.8% by 2018 - Have you Reengineered your RCM Yet? |
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Demand for RCM technology has increased due to staggering costs of healthcare and shortage of skilled resources. Even though the adoption rate is slow, market for RCM in the US is poised to witness a growth of 6.8% by 2018.
Read More...
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| Efficient practice management equals to higher revenues! |
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