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Revenue Cycle Management (RCM)
Decrease aging accounts receivable and increase staff efficiency
An increase in Account Receivable from one period to another indicates that payments such as copays (and increasingly, deductibles for those patients with high-deductible health plans) are not being collected upfront. It threatens the cash flow of the practice. In growing healthcare practice, it is necessary to keep track of…
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Revenue Cycle Management (RCM)
Patient reengagement with enhanced financial experience
Patient financial experience is important for every healthcare provider as a single poor billing experience can negate your patients’ positive, high-quality clinical experiences and you should always remember that the last impression is the lasting impression. Today, in the wake of COVID-19, providers need to consider financing flexibility, a shift…
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Practice Administration
Best Practices for Front Desk Team in Healthcare
You know every member of your team is responsible for creating an exceptional customer experience, but the front desk team is accountable for most of these responsibilities like scheduling patient appointments, collecting payments like co-pays and other balances due, upfront. You know that the healthcare industry is dynamic and facing…
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Revenue Cycle Management (RCM)
Important metrics for every physician practice – Net and Gross Collection Rate
There is more than evaluating cash flow to assess the financial health of any physician’s practice. However, cash flow is just one factor. You don’t have to be a finance expert to understand the other important metrics like Gross Collection Rate (GCR) and Net Collection Rate (NCR) that should be…
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Medical Billing Services
Things to know about covid vaccine reimbursement
In the US COVID vaccines are 100% free to all individuals. Only insurance companies or the federal government can be billed for medical reimbursement, not patients. For COVID vaccines administered on or after March 15, 2021, the national average payment rate for physicians, hospitals, pharmacies, and other immunizers will be…
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Medical Billing Services
Why Should You Opt for A Third-Party Medical Billing Company?
Every healthcare provider is looking for timely and efficient reimbursement from payers for the services rendered to patients, but it requires clean and error-free insurance claims in the first place. Correcting billing mistakes requires time and other resources from your facility and staff, which time and resources could be better…
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Credentialing Services
What you should know about Healthcare Provider Credentialing?
Healthcare provider credentialing involves many parties and all basic educational information. Healthcare providers all need to prove their education, skills, and training required to see patients. Simultaneously, healthcare oversight organizations monitor the work of medical providers to evaluate reports of improper care, among other matters. All these reporting and monitoring…
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