The challenges of the regulatory environment, the complexity of the coding system, and the shifting dynamics of reimbursement are not going away. Maintaining your focus on the key drivers of revenue cycle success is business critical. Concentrate on these seven strategies, and you’ll be in position to optimize your practice’s revenue cycle.
Strategy #1: Monitor Payments.
Research shows that reimbursement for professional services has been – and continues to be – adjudicated at rates well below expectations. Don’t let the intricacies of insurance agreements get the best of you. At the line item level – for each CPT® code, that is – ensure that the allowable reported on your remittances matches the expected rate; it’s not uncommon for insurers to misstate allowables. Don’t rely on memory or intuition…
The seas of change in health care are here and the challenges are not going away. There’s no better time than now to take steps to ensure that your practice’s revenue cycle is in order. Pave the way to a smoothly running revenue cycle by investing time and resources into strategies that will lead to success. Click here to continue on to the full article for all seven strategies.