How to improve key RCM metrics?
With the revenue cycle industry evolving every day, RCM practitioners and decision-makers need to stay updated on the trends. Trust Revel, a Revenue Cycle Industry Newsletter from Medical Billing Wholesalers, to bring you updates on issues impacting the revenue cycle business.
How to Arrest Revenue Leakage in Medical Billing?
Unbilled payments, unmonitored denials & claims, and inefficiency in training can cause revenue leakage, resulting in the loss of enormous amounts of money for providers. In this whitepaper from Medical Billing Wholesalers, we bring you ten things that you can implement to reduce revenue leakage in your practice. Implementing these best practices into your healthcare organization will help you improve revenue and reduce costs.
Improving Days in A/R – A Best Practices Guide to Improve Your Revenue Cycle
The days in accounts receivable (A/R) is a critical performance indicator that measures the average time taken for a claim to be paid based on average daily charge volume. While the measure may vary for different types of care and medical specialties, the suggested benchmark by the Medical Group Management Association (MGMA) is fewer than 40 days. Improving days in A/R to MGMA benchmark requires a comprehensive relook at the entire revenue cycle and concerted efforts to improve. In this article, Medical Billing Wholesalers brings you insights on how to reduce the number of days in AR.
Improved Revenue Cycle Workflow and Reporting Functionality Accelerates Cash Flow
A revenue cycle system is only as good as its implementation. Most revenue cycle professionals utilize less than half of the capabilities of the RCM system. Often, important functionalities that can reduce workload significantly are overlooked. Revenue Cycle Professionals should look at their workload as well as performance data to understand how they can ease their work processes and exceed benchmark KPIs by taking advantage of dormant features of the revenue cycle platform. Read more in this case study on how improving the functionalities can help you focus on improving reimbursements.
Industry News
How to evaluate a telehealth platform today — a guide for IT
CVS names new president for Aetna
AMA releases CPT codes for coronavirus immunizations
Providers, payers struggling to meet ONC, CMS deadlines
CMS Details Medicare Payment for New COVID-19 Antibody Drug
Prior Authorization Burden Continues to rising, Physicians Report
Healthcare CFOs Looking to Technology to Boost Waning Margins
CIOs seek analytics, automation, and EHR integration for healthier supply chains
The University of Rochester serves rural patients, reduces ED burden with telebehavioral health
AI models from Mount Sinai can predict critical COVID-19 cases
About Medical Billing Wholesalers
Medical Billing Wholesalers (MBW) provides business process outsourcing, revenue cycle KPI measurement, and robotic process automation tools. The company operates from 5 delivery centers in Chennai and Bangalore and has sales offices in New York, Dallas, Fort Lauderdale, Las Vegas, and Nashville. Through our clients, we support over 2,000 physicians across over 20 medical specialties and uses over 15 EMR/practice management systems today. The company applies proprietary workflow tools, and robotic process automation capabilities to help clients do more with the revenue cycle.
