Tag: Revenue Cycle Management

Driving Revenue Growth: Key Insights for RCM Professionals

Driving Revenue Growth: Key Insights for RCM Professionals

The importance of Revenue Cycle Management (RCM) is no longer just a best practice in today’s ever-changing healthcare landscape – it has become a necessity. In a market where costs are rising, regulations are becoming more complex, and patients are becoming more responsible for their own finances, optimizing the revenue cycle is essential to maintain […]
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Strategies For Optimizing Revenue Cycle Management

Strategies For Optimizing Revenue Cycle Management

In today’s healthcare environment, optimizing revenue cycle management (RCM) is no longer a luxury. It is necessary rising costs, complex regulations and rising patient deductibles are forcing healthcare organizations to spend every penny they can. Fortunately, you can use some effective strategies to streamline your RCM process, reduce errors, and increase profitability. Understanding currency conversion: […]
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Navigating E&M Code Changes

Navigating E&M Code Changes

It is expected that the Centers for Medicare & Medicaid Services (CMS) will release a completely revamped version of the evaluation and management (E&M) codes by 2021, particularly for the office visit codes (999201-99205 and 99211-99215). In addition to the changes to the office visit codes, there were significant changes to the 2023 guidelines. These […]
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Top 3 Critical Challenges for Revenue Cycle Leaders in 2024

Top 3 Critical Challenges for Revenue Cycle Leaders in 2024

Revenue cycle leaders ought to contemplate including these three challenges in their organization’s roster of New Year’s resolutions. 1. Automating Payer Processes: Similar to healthcare organizations, payers have also started embracing automated solutions, intensifying challenges in managing denials and causing delays in payment for rendered care. At the 2023 Revenue Tech Exchange in Raleigh, leaders […]
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How Claim Denials and Payer Audits Impacts Healthcare Revenue Cycle

How Claim Denials and Payer Audits Impacts Healthcare Revenue Cycle

Denial rates, notably within Medicare Advantage, are on the rise, impacting both hospital revenue cycles and patient care, remarked the executive director of a Minnesota-based large multispecialty health care organization focused on Revenue Cycle management. Despite the organization reporting a favorable margin this year, it falls short in achieving profits comparable to those of insurers, […]
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The Rise of Hybrid Global Outsourcing Models in Healthcare

The Rise of Hybrid Global Outsourcing Models in Healthcare

Given labor shortages and financial constraints, fully managed hybrid outsourcing solutions are increasingly gaining prominence. Hospitals and provider organizations grapple with staffing deficiencies across various departments, with the revenue cycle facing considerable strain. A recent survey among medical group leaders highlighted coders as the most challenging role to fill, closely followed by billers, schedulers, authorization […]
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