Tag: Healthcare Finance

Medicare Physician Reimbursement Cuts

Medicare Physician Reimbursement Cuts Threaten Patient Access to Care

With over 67 million Americans—nearly 20% of the population—relying on Medicare, the program plays a crucial role in ensuring access to quality healthcare. Unfortunately, looming Medicare physician reimbursement cuts threaten to undermine this vital service, potentially leading to reduced access to care and compromised patient outcomes Medicare physician reimbursement cuts, such as the proposed 2.8% […]
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Benefits of Outsourcing rcm

The benefits of outsourcing RCM functions

Here’s a rewritten version of the provided text, aiming for a more concise and impactful delivery: Navigating the complexities of today’s healthcare revenue cycle management (RCM) presents a significant challenge for providers. A key advantage of Revenue Cycle Management outsourcing lies in its ability to alleviate these substantial administrative burdens, which often escalate with evolving […]
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Streamline Billing and Boost Revenue with Efficient Payment Posting

Streamline Billing and Boost Revenue with Efficient Payment Posting

While revenue cycle management (RCM) involves many steps, payment posting processes often gets overlooked. Optimizing this process acts as the cornerstone for smoother billing, reducing administrative burdens, and uncovering new revenue streams. By providing a clear view of daily income, accurate payment posting helps practices proactively address errors that could otherwise complicate medical billing and […]
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Boost Your Bottom Line: 4 Keys to Healthcare RCM Success

Boost Your Bottom Line: 4 Keys to Healthcare RCM Success

In 2024, factors like declining reimbursement rates, the shift towards value-based care, and ever-changing regulations demand a proactive approach to improve RCM. Here, we explore four key strategies to optimize your healthcare revenue cycle and ensure financial stability in the coming year. 1. Break down Silos: Merging Front-End and Back-End Functions Many healthcare organizations struggle […]
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Reduce Claims Denial in Your Revenue Cycle

Reduce Claims Denial in Your Revenue Cycle

Claims Denial: Healthcare Leaders report an increase in payer denials, putting increasing pressure on the system’s finances. Going back and forth with denied payers is a long and expensive process, and low reimbursement rates don’t help either. In a new survey conducted by the Healthcare Financial Management Association, CFOs noted a significant increase in denials, […]
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Discover the Top 5 Qualities of a Great Physician Billing Solution

Discover the Top 5 Qualities of a Great Physician Billing Solution

Ensure you make a well-informed choice when selecting a company to manage your reimbursements. Physicians seeking to improve their reimbursement rates, financial performance, operational efficiency, or focus on patient care should consider outsourcing their billing needs. However, choosing the right physician billing service for your practice can be a challenging task, as not all services […]
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Revenue Cycle Billing Challenges_ Insights from Patient Experience

Revenue Cycle Billing Challenges: Insights from Patient Experience

To enhance the financial experience of patients, it is crucial to closely examine an organization’s billing procedure. HealthLeaders is joining the celebration of Patient Experience Week from April 23-29 by highlighting the efforts of revenue cycle leaders in establishing a favorable financial experience for patients in their organizations. With a suboptimal financial experience capable of […]
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Automating Revenue Cycle Operations Reduces Cost-to-Collect

Automating Revenue Cycle Operations Reduces Cost-to-Collect

Health systems that used automation for revenue cycle operations had an average cost-to-collect of 3.51 percent compared to 3.74 percent for those that did not use automation. Using automation for revenue cycle operations could lower hospital and health systems’ cost-to-collect by 0.25 percent, according to a survey from the Healthcare Financial Management Association (HFMA). The […]
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