The Revenue Cycle Blog
Best Practices for Choosing Revenue Cycle Technology
Here’s a list of top considerations for choosing the right revenue cycle technology for your organization:
Role of medical coding in the future of healthcare
Healthcare administrative talent will be in short supply for many years, and medical billing and coding offer lucrative career options. This blog discusses the importance of medical coding, the career opportunities it provides, and how medical coding will play a critical role in defining the quality of care.
Case Study: Improving ED collections by resolving coding and clinical documentation issues
Our client, a mid-sized hospital group, faced challenges getting reimbursed for ED visits. Sub-optimal client documentation processes led to delayed payments and reduced reimbursements. Our initial analysis revealed that delayed billing was the root cause. We conducted an exhaustive internal audit of 30 physicians working across two facilities in Washington and Florida. In this case study, we highlight how improved clinical documentation and coding quality lead to increased reimbursements.
Case Study: Anesthesia billing and coding rigor improves reimbursements
Our client, an IOWA-based anesthesia practice operating from 3 locations with 12 anesthesiologists in the group, was facing increased denials due to preventable causes. Anesthesia procedures are unique and require specific diagnosis codes. Hence, the quality of documentation by the Anesthesiologists plays a critical role in reducing coding-related denials. In this case study, we share the best practices applied by our team while billing & coding for Anesthesia practice.
Revenue Cycle Management Tips for Physician Practices
In this edition of the NSCHBC Edge Podcast, Terry Fletcher invites NSHCBC members Vinod Sankaran and Misty Haralson for an RCM Round table discussion.
Hear fellow healthcare consultants in the RCM space discuss physician and dental practice pain points and how to be efficient in your Revenue Cycle Management efforts.
Solutions for the Revenue Cycle and clinical labor shortage
Staffing shortages affect employee morale, delay patient care, and cause clinician burnout. With the rising inflation, care cost is also increasing significantly. Click here to learn more.
Creating an effective strategy to resolve Clinical and Coding Denials
Claim denials, a chief cause of revenue loss to healthcare practices, are rising across payer types. A primary source of denials is on account of coding-related denials. A comprehensive and focused denial management and appeals strategy will help reduce this revenue loss.
Best Practices in Patient Eligibility and Benefits Verification
With rising consumerism, patients have increasing responsibility for payments. The growth of high deductible health plans (HDHPs) is a clear indicator of this trend. It is important to clearly understand the patient's responsibility for payments upfront and determine coverage. Click here to read the entire article.
MBW receives the Platinum award for the Best Rewards and Recognition program from HRDA
On 17th May 2022, Medical Billing Wholesalers was awarded the Platinum award for the Best Rewards and recognition program. Babitha Margaret, our head of HR, received the award at the exclusive HR Distinction Award in New Delhi.
Strategies to minimize revenue loss in Medical Billing
Healthcare providers must focus on delivering high-quality care while the revenue cycle team manages the reimbursements. Outsourcing accounts receivable and denial management processes to a seasoned outsourced revenue cycle services provider can minimize revenue loss and improve financial outcomes. Click here to view some of the strategies to minimize revenue loss.
Is your Revenue Cycle Staff Burning Out?
A revenue cycle CFO faces multiple challenges - Declining reimbursements, the need to find money to make investments in technology and automation, and the massive shortage of qualified revenue cycle labor.
AIHC publishes MBW’s perspectives on trends in the RCM Industry
Accounts Receivable (A/R) status has moved from calls to portals. We see increasing relevance for chatbots using conversational artificial intelligence (AI) in A/R and denial management filing. Click here to read more.
Radiology Billing and Coding Best Practices
When clinicians handle the billing themselves, they spend considerable time, money, and effort on administrative tasks rather than doing what they do best-providing outstanding medical care. Trained and specialized Radiology Billing specialists understand the changing rules and regulations for specialties and the nuances of payer-specific guidelines in their respective regions.
Automating the Revenue Cycle in 2022 - HBMA Innovation Workshop
The Healthcare Business Management Association (HBMA) healthcare innovation workshop was held on March 20, 2022, in New Orleans. This year's theme was "Increasing Efficiency in Revenue Cycle Management through innovation. Our CEO, Vinod Sankaran, addressed healthcare industry leaders and revenue cycle experts on "Automation/Changes in Revenue Cycle 2022 & Beyond".
Benefits of outsourcing and offshoring Medical Coding processes
Outsourcing and offshoring the Medical Coding process can give you access to certified coders, reduce denials, improve reimbursements, and plug revenue leakage. Healthcare providers and revenue cycle aggregators must choose the right service providers to improve the coding quality and achieve market-leading outcomes.
Tips to Improve Medical Coding Quality
The majority of patients require customer support provided by a real person; robots and applications are often disappointing or infuriating. The impact on the healthcare RCM (Revenue Cycle Management) is one of the things that is not expected to reverse any time soon or ever. Click here to learn more on changes in the healthcare system which have posed the biggest challenges to RCM.
A look back at 2021 Revenue Cycle Trends
The impact on the healthcare RCM (Revenue Cycle Management) the year 2021 had is one of the things that is not expected to reverse any time soon or ever. The following changes in the healthcare system have posed the biggest challenges to RCM:
Cardiology Coding Guidelines & Best Practices
Cardiology coding requires the knowledge of catheter-based techniques to diagnose and treat coronary artery disease and congenital heart defects. Click here to download cardiology coding guidelines & best practices.
Top 7 Practice Management Software to know
For medical practices, the practice management software is their lifeline. It helps them register patients, manage appointments, contract with payers, submit claims, and obtain reimbursements for the services they provide. Please scroll below to learn more about few leading practice management softwares.
Key Revenue Cycle Trends for 2022 and Beyond
Tech, investments, and coding automation are some of the themes that will drive the RCM momentum in 2022 and beyond. Read more about the key RCM trends in this whitepaper.