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Medical billing is a complicated process that requires awareness and attention to detail from a well-trained staff. But it’s also a matter of having the right technology—if you’re dealing with paper-based processes and searching through physical files, you’re not operating at peak efficiency and could be missing valuable claim follow-up
Whether you’re part of a larger hospital or run your own private practice, improving revenue cycle management means improving your bottom line. Reducing rejected claims, shortening payment lag, and otherwise smoothing your payment processes will increase your office’s efficiency and help bring more money into your practice. With that in
For medical billing companies, faster revenue cycles mean everything. By automating billing tasks, establishing built-in clearinghouses with qualified practice management software, and embracing artificial intelligence in their workflows, today’s medical billing companies are able to process more claims in less time than ever before. But not every company is using
If you’re looking to optimize revenue cycle management and get paid faster, you’ve come to the right place. Keep reading to learn more about the benefits of getting paid quickly — and the easiest way to make it happen. The Benefits of Getting Paid Quickly When medical practices run into
When you go to a doctor’s office, you typically don’t have to pay for the service out of pocket right then and there. In some instances, you might have to pay a copay, but the provider will need to collect the bulk of the payment from the insurance company. In
In an age where efficiency matters most, more and more healthcare organizations are using cutting-edge technologies to streamline their operations and provide better care to patients. In fact, a recent survey found that 81 percent of healthcare executives admit the pace of digital transformation for their organization is accelerating. Further,
Patients are the lifeblood of your medical practice, and your team works hard to keep them healthy and happy. In exchange for top-notch medical experiences, your patients keep supporting your practice and pay their bills on time. It’s the textbook definition of a mutually beneficial relationship. That said, retaining patients
Patients today increasingly expect healthcare experiences that are both seamless and personalized. Unfortunately, this is much easier said than done for many practices that are still doing things the way they’ve been done for years. After all, medical providers and staff at these slower-to-modernize practices spend a lot of time
As a result of the pandemic, the U.S. healthcare sector is facing a massive clinical and administrative staffing shortage. Despite gaining about 50,000 jobs since January, the industry still needs to fill more than 500,000 additional positions to get back to pre-pandemic levels. Chances are your facility is experiencing the
According to a 2020 report, more than one-third of U.S. healthcare costs are eaten up by administrative tasks. For example, healthcare providers spend nearly $500 billion on billing– and insurance-related costs each year. When medical billing companies are bogged down with inefficient processes, the revenue cycle stretches out and billing
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