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revenue cycle management
Correct patient information should be recorded at the time of registration itself. Insurance eligibility and coverage have to be verified much in advance prior to the appointment itself. Demographic as well as insurance information must be updated in order to ensure that claims are processed smoothly.
Optimize Coding and Documentation: Proper medical coding is essential for reimbursement. The staff has to be well trained in the latest standards in coding that is ICD-10 and CPT for minimum errors. Proper coding means billed appropriately for services extended, thus avoiding denials and delays.
Smooth Claims Submission: Billing software helps automate claims submission, thereby reducing the chances of manual errors and increasing efficiency in the processing of claims. Submissions should be timely and follow-ups made for pending claims for timely reimbursements.
Denial Management: Periodically analyze denied claims for frequent problems, such as coding errors or missing documentation. Establish a method for appealing and resubmitting denied claims to recover lost revenue.
Improve Patient Collections: Encourage patients to pay at the time of service about copayments and deductibles. Offer flexible payment plans so bills are more affordable for patients, thereby improving collections on the whole.
revenue cycle management
Correct patient information should be recorded at the time of registration itself. Insurance eligibility and coverage have to be verified much in advance prior to the appointment itself. Demographic as well as insurance information must be updated in order to ensure that claims are processed smoothly.
Optimize Coding and Documentation: Proper medical coding is essential for reimbursement. The staff has to be well trained in the latest standards in coding that is ICD-10 and CPT for minimum errors. Proper coding means billed appropriately for services extended, thus avoiding denials and delays.
Smooth Claims Submission: Billing software helps automate claims submission, thereby reducing the chances of manual errors and increasing efficiency in the processing of claims. Submissions should be timely and follow-ups made for pending claims for timely reimbursements.
Denial Management: Periodically analyze denied claims for frequent problems, such as coding errors or missing documentation. Establish a method for appealing and resubmitting denied claims to recover lost revenue.
Improve Patient Collections: Encourage patients to pay at the time of service about copayments and deductibles. Offer flexible payment plans so bills are more affordable for patients, thereby improving collections on the whole.