The Revenue Cycle Blog
Addressing Revenue Cycle Labor Shortage with Technology and Outsourcing
In healthcare, the labor shortage is not limited to clinical roles but extends across administrative functions. If you look at the revenue cycle, lack of timely filing and follow-ups can increase denials and result in delayed cashflows. In this blog, we look at some of the strategies revenue cycles CFOs are deploying.
Best Practices for Choosing Revenue Cycle Technology
Here’s a list of top considerations for choosing the right revenue cycle technology for your organization:
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.
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".
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.
6 Revenue Cycle Management KPIs to Track
KPIs in RCM plays a pivotal role, as they help drive data-driven decision-making and creating business transformation projects. Whether you are running a physician practice or a hospital, adhering to the 6 KPIs listed below enables you to keep your revenue cycle in control. By Measuring and monitoring these KPIs, you will be able to extract the most out of your revenue cycle and find the much-needed cash to invest in technology and patient care.
Improving Clinical Quality and Patient Experience is key to financial success
Improving the overall patient experience requires a comprehensive re-look at your clinical, administrative, and financial processes. From reducing time to care delivery to improving transparency around the costs of care, healthcare provides need to focus on improving quality, timeliness, and responsiveness.
Revenue per Encounter – The top revenue cycle metric
Revenue per encounter can be defined and computed by dividing net collections by the total number of patient visits in a given month. This metric can provide a quick view of the health of your revenue cycle. In this whitepaper from Medical Billing Wholesalers, learn more about how to calculate and increase Revenue per encounter.
Revenue Cycle Trends for 2020 and Beyond
With headwinds coming from falling reimbursements and the rise of national-level aggregators, the times are tough for medical billing companies.
In this whitepaper, we look at some of the trends and what medical billing companies need to do to survive and thrive in 2020 and beyond.