With headwinds of cost increases, reducing reimbursement rates, and declining patient visits, Physician practices must refocus on operational efficiencies to achieve profits sustainably. Revenue cycle KPIs are essential in measuring your Practice's performance and guide on improving.

The offshore-onshore relay race refers to the collaboration between the onshore operations of your medical billing company or in-house RCM team and offshore providers of revenue cycle services across processes such as medical billing, medical coding, patient access, accounts receivable, and denial management.

Process rigor is essential in revenue cycle transformation because it helps ensure the accuracy, consistency, and efficiency of the revenue cycle processes. A lack of process rigor can result in errors, duplications, and delays that can negatively impact the financial performance of an organization.

An efficient and effective physician credentialing process can help ensure compliance, quality of care, and financial stability while supporting the overall success of the revenue cycle in the healthcare organization.

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.

For hospitals, healthcare systems, and even mid to large physician practices, 2022 was the worst financial year in decades. Healthcare providers already reeling under the impact of the long period of adversity due to COVID-19 were further impacted by inflationary impact and increasing cost of healthcare supplies. Protecting the revenue and doing more with fewer resources are the central themes on the minds of RCM leaders. The impact of the great resignation has left them short of both administrative and clinical workforce.

2023 promises to be a super-charged year with an increasing pace of consolidation, innovation, and adoption of new ways of doing work. We discuss some of the trends impacting healthcare and the revenue cycle.

The rising costs of caring, economic uncertainty, the impact of the great resignation, the consequent labor shortages, and the multi-year delay in investing in technology and processes to re-engineer the financial process have created a perfect storm. Worsening the condition is the demand for medical care slowly shifting from hospitals to ambulatory care settings.

Here’s a list of top considerations for choosing the right revenue cycle technology for your organization:

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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: