The following excerpt is from an article found on Beckers Hospital Review. It was written by Kelly Gooch. ------------------------------- Medical practices are always looking for ways to maximize patient care. To achieve this, there are various strategies physicians can use to streamline revenue-related processes, according to the American Medical Association. The AMA said it's important that physicians have a practice management system in place that works best for staff and medical personnel before implementing new processes. Once a medical practice management software is in place, the AMA recommends practices take advantage of these six ways to make revenue cycle management processes more efficient.

Managing growth may become one of your more interesting challenges as your medical practice becomes ever more successful. As you take on more patients and offer a wider array of RCM services or additional specialists, for example, your revenue expands as well.

The following excerpt is from an article found RevCycleIntelligence.com. It was written by Vera Gruessner. ------------------------------- Revenue cycle management remains relatively elusive in the new healthcare landscape, as new regulations and reforms have led the industry to evolve and left many hospitals scrambling to keep their revenue strong in a value-based care reimbursement model. Today, technology platforms can play a role in assisting providers, payers, and consumers communicate and interact more efficiently, which will lead to a more durable revenue cycle management strategy. There are several key areas that revenue cycle managers could focus on to ensure their medical facility optimized their reimbursement.

While you may not have gotten into the medical business primarily to make money and are more focused on patient care and improving the general health of your community, it would be nice to have appropriate business processes in place to help you keep the lights on. Factors that are difficult or impossible to control for include the local economy, the demographics you serve and the current state of the insurance industry. What you can do, though, is make changes in your organization that will lead to a better flow of payments. With that in mind, here are medical billing tips to help boost your practice’s revenue.

The following excerpt is from an article found on Revcycleintelligence.com. It was written by Catherine Sampson. ------------------------ In some cases, definitions for terms and acronyms related to healthcare revenue cycle management can come across as fairly straightforward. Other times, they can sound more like a foreign language. A healthcare professional may find it difficult to fully comprehend various acronyms, such as MIPS and MACRA, as various agencies word their definitions/interpretation of laws slightly differently. Listed below are definitions as well as supporting details for phrases that come up all over the place for anyone who does a Google search on “healthcare revenue cycle management.

Savvy medical practice managers know how important it is to remain current on nationwide economic developments that could affect the bottom line of their medical practice.

Despite their noble calling, practitioners of the healing arts require compensation in a timely manner just like everyone else. In order to get paid on time, however, medical practices must keep on top of their billing practices. Using solutions such as revenue cycle management software and third party billing firms can help boost your medical practice to the next level. The more your organization grows, the more you can stand to benefit from using specialized software tools and working with medical claims experts.

The following excerpt is from an article found on Revcycleintelligence.com. It was written by Jacqueline DiChiara. ---------------------- “The front-end of the revenue cycle must be diligent with determining Medicaid eligibility and assist uninsured patients understand their coverage options with the insurance exchanges." RevCycleIntelligence.com recently polled over 60 readers to assess revenue cycle management challenges and opportunities, from the front-end, to the back-end, and everything in between.

The following excperpt is from an article found on RevCycleIntelligence.com. It was written by Jacqueline DiChiara. -------------------------- 2016 may be a big year for revenue cycle management. Healthcare organizations see steady claims denial post-ICD-10 implementation and remain focused on value-based care models. Healthcare organizations are focused on strengthening revenue cycle management processes in a post-ICD-10 environment, according to Porter Research and Navicure’s national ICD-10-centered survey.

Getting paid in a timely manner shouldn’t have to be a problem for your thriving medical practice. Office managers and physicians will want to select a medical billing software provider with an eye toward speeding up cash flow and boosting the organization’s bottom line, of course. The trick is in identifying the best provider for your particular practice. With that in mind, here are eight tips to help you and your stakeholders choose a medical billing software provider.