Small practices that enroll in value-based initiatives will see revenue cycle disruptions and loss of income, one expert says.
Revenue Cycle Management
New RCM systems will improve small practices’ ability to manage claim denials, improve reimbursements and boost their business operations.
Practices must focus on building an efficient RCM system that helps them collect payments while allowing them to focus on patient care.
Is it time to outsource? Here’s a closer look at the pros and cons of outsourcing vs keeping it in-house
How do you bill situations when you see the patient in the office and then direct the patient to go to the emergency department (ED)?
Every practice management system can produce reports, but are you utilizing those reports on a monthly basis? They are the key to your practice management numbers, but it’s amazing how many people I work with who do not know how to run reports
Independent physician practices can start increasing their cash flow and reducing their bad debt immediately—and they don’t need fancy software or renegotiated reimbursement agreements to do it. All they need is to have some simple systems in place.
What role should physicians play in discussing the financial impact of treatment decisions, and how can they better manage these conversations?
Even the most experienced physicians and practice managers face a daunting dilemma on the financial front: Should they handle billing and collections internally or hand over these tasks to an external vendor? There are strategies that physicians can use to evaluate potential vendors and make the best decision for their practice.