Managing the revenue cycle performance in a competitive healthcare environment involves risks as well as opportunities. Factors like increasing patient responsibilities, payment model changes and stringent regulations have made revenue cycle management challenging for providers.
|The market revenue for physicians RCM applications and services is expected to grow by 21.6% in the coming years. It will reach $14.6 billion by 2016|
|Around 25% of medical practices income is lost due to missing charges, under-coding and underpricing|
|Coding errors, data entry errors and complexities of claims result in majority of the rejections and underpayments|
In order to overcome these challenges, practices need to adopt the following revenue cycle strategies:
In case your medical practice is suffering losses or has constraints in capital investment for implementing any of the above then outsourcing is meant for you. Trust MBC as your medical billing partner and increase your collections like never before.Back