Posts Categorized: Revenue Cycle Management

How AI is Transforming the Healthcare Industry

The term artificial intelligence often brings to mind futuristic, human-like robots that aim to take over the world—something out of a sci-fi film. But in reality, AI is being developed and applied in many industries today, and it is changing the way we approach healthcare. The term artificial intelligence often brings to mind futuristic, human-like…


Why Is Revenue Cycle Management Important in the Healthcare Industry?

Technology image created by Pressfoto – Freepik.com Managing your revenue cycle is important to keep your practice running. However, keeping your revenue cycle healthy takes a lot of time and energy, and it can often conflict with the many office and clinical responsibilities. Why is revenue cycle management so important? Defining Revenue Cycle Management In…


How to Decrease Denied Claims

Denied claims are the main source of revenue loss for medical practices. Payers rules have gotten more strict, and every year there is a new set of ICD-10 codes to update. It is easy to have denied claims, and it is costly to resubmit them. However, it is even more costly to ignore them and…


Hospitals Lose an Average of 22 Million Due to Missed Charges

According to a recent article on the Healthcare Finance website, hospitals are losing an average of $22 million in missed revenue capture. There are a couple of negative market trends that lead to these unprecedented numbers. Payers have increased their level of scrutiny over claims Patient cost obligations are at an all-time high Increased physician responsibility…


How to Harness the Power of Technology for Your Medical Coding Process

You know how dependent your practice is on having an efficient coding staff. In today’s post-Meaningful Use world, a good team of coders is essential to ensuring you get the most out of your revenue cycle. Entering charges fully and correctly the first time is crucial to getting paid your full reimbursement. But when you…


10 Revenue Cycle Management Pitfalls to Avoid

It’s important for your practice to stay on top of managing your revenue cycle. Like any business, your medical practice needs cash flow to stay afloat. Here is a list of 10 revenue cycle management mistakes you need to avoid to keep your practice running efficiently. 1. Falling behind on payer rules With so many…


Taking Control of Your Revenue Cycle Through Analytics

It is more important than ever to ensure that your revenue cycle is operating at its highest capacity. In order to manage your revenue cycle well, you need deeply insightful analytics. But I’m not talking about the analytics that you can easily access, like your days in A/R, or your claims denial rate. That kind…


Why Automated Charge Entry Is Not Giving You the Time Savings You Expect

Let me paint you a picture. Your billers and coders were spending hours of time manually entering in charges to your PM system. Then, you implemented charge passing on your EHR system. Gone are the days of manually entering in each individual charge post encounter. So why aren’t you seeing the time savings? Where is…