Your practice should run like a well-oiled machine. When one component lacks efficiency, everything else in the practice suffers.
As healthcare providers in any profession, we all face challenges when it comes to medical billing. Whether it is revolves around claims, payments, patient cooperation, or the software we use to operate our revenue cycle, we all face something.
Burnout is defined as “physical or mental collapse caused by overwork or stress.” While this can apply to anyone in any field, in terms of medical providers, physicians experience some of the highest levels of “burnout” than any other field.
The more your practice finds new ways to engage its patients, keep them informed, and keep them interested in their personal health, the more likely your practice is to reach its goals. When your patients are unhappy with their care, it has less.
Providers of all shapes and sizes are struggling to adjust their revenue cycle to accommodate changes in the billing world. For small practices, especially, having to rely less and less on large-sum payments and more on patient payments.
Now more than ever, providers need to make sure they are improving the way they send patient statements in order to maximize payments received. With the rise in high deductible insurance plans, patients have been even more hesitant to pay their.
As a healthcare provider, you are most likely familiar with revenue cycle management. Guaranteeing that your practice receives payment in a timely manner from both private and government insurance payers is crucial for your operating margins.
The revenue cycle for a common medical practice is complicated but relatively straightforward in terms of what to do in order to get your claim approved and receive timely payment.
At CollaborateMD we are obsessed with getting your medical claims paid fast. All of us at CollaborateMD are here and ready to help make your life easier.
Give us a call at 877.480.6517 for more information.