revenue cycle mnagement

Chargemaster

Chargemaster: The Start of your Revenue Cycle

How does the chargemaster drive your revenue cycle? The chargemaster is where everything begins, from fee schedules and claims submission to reimbursement. Without an accurate and reasonable chargemaster, financials for your practice can be thrown off by high adjustments or inaccurate pay rates from your insurance reimbursements. What is the chargemaster? It may have many …

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Service Spotlight: Insurance Verification & PreCertification Services

Service Spotlight: Insurance Verification & Pre-Certification Services

Many practices can get by with electronic batch billing through their EHR. This is a simple service that 2-3 days prior to the patient’s appointment, eligibility is checked to verify that the patient has active coverage. This system delivers a report of those who kick back without current coverage, so your registration team may reach …

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New Year Resolution for a Better Revenue Cycle

Your Practice’s New Year Resolution: A Better Revenue Cycle

Happy 2018! As you wrap up year end activities, now is the time to put into place solutions that will improve your revenue cycle for the entire year. Check in It starts at the beginning. That’s a little redundant isn’t it? But it’s true. Your revenue cycle starts when your patient checks into the office …

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Benefit verification

Benefit Eligibility & Verification

Depending on your practice, eligibility can mean many different things to many different specialties. However, the key to a strong revenue cycle and patient collections strategy begins with eligibility verification. Basic Eligibility What is basic eligibility? This is checking with the insurance company ahead of the patient’s appointment to make sure they still have an …

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Denials: The Growing Concern

Denials are a fact of life for every medical practice. From demographic errors to medical necessity, denials come in easy to fix solutions and time-consuming levels of appeal. A recent article from the Healthcare Finance News website (http://www.healthcarefinancenews.com/news/denials-still-major-risk-revenue-cycle-departments-despite-build-out) noted that hospitals in particular “wrote off as uncollectable 90% more denials than 6 years ago.” The …

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