Days in accounts receivable (A/R) is one of the most important key performance indicators for growing practices. In an increasingly complex healthcare environment—and one in which financial responsibility is shifting to the patient—keeping track of how long it takes to collect healthcare revenue that a practice has billed but has yet to receive from payers and […]
The overall goal of accounts receivable management is to achieve the shortest collection period possible. Accounts receivables, also known as patient accounts, refers to revenues generated but not yet collected. To ensure cash flow is sufficient for effective management, the medical office has the responsibility to maximize its revenue potential. Accounts Receivable management involves nearly all areas […]
Ending surprise medical bills has risen to a national priority with bipartisan political interest. In January, President Donald Trump directed Cabinet officials to find a solution, and multiple congressional bills were proposed in the last Congress with the same goal. Surprise medical bills consist of unanticipated charges from out-of-network clinicians—often when the facility or primary physician is […]
Despite calling it “essential,” many healthcare leadership teams discuss charge capture once a month or less. Despite its importance, charge capture doesn’t get the attention that it deserves, according to a survey of revenue cycle leaders. Although 78% of respondents characterize charge capture as “essential” to their organization’s success, leadership teams at 40% of organizations […]
Authorization-related denials continue to be among the top denials for organizations. Authorization denials add to A/R days, require work to overturn, and can result in lost revenue. Here’s a list of common pitfalls and possible solutions. We’d love to hear more about your own authorization-related pitfalls and/or solutions your organization is pursing. Reach out to […]