Tag: Revenue Cycle Strategies

3-strategies-for-revenue-cycle-management-optimization

3 Strategies for Revenue Cycle Management Optimization

Optimizing revenue cycle management is pivotal in rebounding from the profound losses of the previous year. Leading provider organizations have devised three potent strategies. In the aftermath of the COVID-19 pandemic, fine-tuning revenue cycle management takes precedence for financial leaders. Last year, healthcare institutions grappled with substantial declines in both revenue and patient volume, all […]
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Managing Patient Account Receivables

Revenue Cycle Strategies for Managing Patient Accounts Receivable

A Guide to Accounts Receivable (A/R) The healthcare practice’s Accounts Receivable (A/R) encompasses various complexities and subtleties. The Accounts Receivable process is continually evolving, presenting numerous challenges. Although A/R challenges may not solely determine success, improving A/R turnaround time can have a significant impact. Based on an MGMA Stat poll, 56% of medical groups reported […]
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RCM Strategies

Strategies for Maximizing Revenue Cycle for Financial Success

Based on a recent survey conducted by MGMA, it was found that 40 percent of medical practices were unsuccessful in attaining their revenue objectives in 2021. The survey participants emphasized various significant obstacles, including insufficient staffing, escalating expenses, and delayed payments from payers. To tackle this widespread revenue shortfall, healthcare providers are urged to prioritize […]
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Healthcare Revenue Cycle Strategies to Boost Revenue

Healthcare Revenue Cycle Strategies to Boost Practice Revenue

Insufficient implementation of revenue cycle management (RCM) strategies may result in disorderliness. Conversely, optimizing RCM in conjunction with billing and collection procedures can mitigate the difficulties, leading to amplified revenue for the practice. The Role of RCM in the Healthcare Sector RCM encompasses both the clinical and business aspects of healthcare institutions, linking patient care […]
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3 Great Strategies From The Revenue Cycle Ideas Exchange

Price transparency, increasing revenue, and reducing denials are three of the revenue cycle’s thorniest issues. At the HealthLeaders Revenue Cycle Ideas Exchange in mid-March revenue cycle leaders from the nation’s top health systems shared their proven strategies for success for each of these problems. Here’s what they had to say. Although root cause data showed that 47% of […]
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3 Boots-On-The-Ground Revenue Cycle Strategies for a Second COVID-19 Surge

Northwell Health executives share practical, in-depth strategies to help revenue cycle leaders prepare for additional COVID-19 surges and other emergencies. Health system leaders around the country can look to systems like Northwell Health in New York for guidance about how to best prepare their own revenue cycles for a possible second wave of COVID-19 cases as states ease restrictions […]
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Mastering Revenue Cycle Management

Doctors are fond of complaining that they didn’t go to medical school in order to practice business, but independent physicians do spend much of their time on their practices’ finances. That requires mastering revenue cycle management (RCM), the financial process practices use to administer all the functions associated with claims processing, payment, and revenue generation. […]
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