Revenue cycle analytics is an approach to value analysis that includes all aspects of patient care, from supplies and equipment to services, care and outcomes. By implementing revenue cycle analytics, healthcare providers can avoid losing revenue in the midst of a value-based care reimbursement model.
When you’re processing hundreds, if not thousands of complex medical claims every week, a small percentage of denied claims can have a significant impact of your bottom line. This is where automated denial management comes in. Here are some ways automation can help bridge the gap between claim denials and higher profit for your healthcare organization.
Trends in the healthcare industry continue to emerge, and providers that want to maintain a strong revenue cycle must learn how to embrace them. The first part is understanding each one and the advantages precipitated by their inclusion in physician practices of all sizes.
Healthcare providers face multiple revenue cycle management (RCM) challenges, from billing and collections inefficiencies and complex reimbursement models to inaccurate charge capture and changing government regulations.
AAPC defines medical coding as the transformation of healthcare diagnosis, procedures, medical services and equipment into universal medical alphanumeric codes. In financial terms, medical coding is the life blood of the practice. It's how the services you provide turn into billable revenue.
While these Surprise Billing legislations and regulations continue to evolve, they are not going away - Prepare your practice or billing company with ImagineSoftware’s Patient Responsibility Estimation tool.
When you come across the term “robotic process automation,” you might think it sounds like a futuristic idea. However, RPA, as it’s often called, is a technology increasingly being utilized in the healthcare industry, including medical billing.
Technology has dramatically changed the way healthcare organizations, including providers and payers, operate. It has also made a marked difference in medical billing processes such as electronic claims processing.