Best ways to attain higher Revenue cycle management numbers for your practice - PowerPoint PPT Presentation

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Best ways to attain higher Revenue cycle management numbers for your practice

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As far as medical billing and coding is concerned, the best way to attain higher revenue cycle management starts with checking for the eligibility of the patient, and goes on till the revenue is recovered from the denied or delayed claims. – PowerPoint PPT presentation

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Title: Best ways to attain higher Revenue cycle management numbers for your practice


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  • Best ways to attain higher Revenue cycle
    management numbers for your practice

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Best ways to attain higher Revenue cycle
management numbers for your practice
As far as medical billing and coding is
concerned, the best way to attain higher revenue
cycle management starts with checking for the
eligibility of the patient, and goes on till the
revenue is recovered from the denied or delayed
claims. Here are some crucial ways to attain
higher RCM numbers Eligibility
Verification Inspecting the eligibility
verification of the patients insurance coverage
is where things start to roll. The Medicare
coverage may differ from plan to plan, and this
has to be confirmed with care to certify patient
or the doctor is not troubled with erroneous
data. Streamline Coding The most complex part to
attain higher RCM numbers is via streamlined
coding, and sticking to the Current Procedural
Terminology (CPT). Coding by a doctor with
his/her staff leads hours of time that could be
utilized in attending patients. However, coding
done by professional billers or by a third party
organization can rule out surplus of errors, and
ensure billing process is smoother.
Medical Billing Services in Oregon
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Best ways to attain higher Revenue cycle
management numbers for your practice
Charge entry and Demographics Entering all
information of the patient, and the charges for
the applicable services can be easily carried by
experienced medical billing professionals.
Patients who have come might not have been
charged, sometime the ancillary services go
missing from the list, and a few ordered services
get omitted, all this can lead to a disastrous
income cycle, and revenue leakage. Payment
Posting This is the critical step which actually
deals with the payment process. The claims get
delivered to the insurance companies and based on
the patients coverage policy. The charges
received should be entered in the software for a
higher RCM number. Collections are vital This
process begins even before the claims are
submitted. This is where the task of performing
the eligibility check helps. This can prevent any
further delay. Any patient who has a due amount
that includes the deductibles, must be mentioned
clearly.
Medical Billing Services in Oregon
4
Best ways to attain higher Revenue cycle
management numbers for your practice
Managing Denials Recognizing the reason of denial
can help a lot to collect the outstanding faster.
Finding the faulty codes, the main reason for
denial is something that can help in processing
the claim faster. Keep in mind that the CPT codes
cannot be changed and managing denials is half
the success in preventing revenue
leakage. Managing Account Receivables Following
up with mails and calls to ensure payment is
collected is a tough undertaking. Not just
denials, but the claims that are pending for
payment also need timely follow ups. When you as
a medical practitioner want your claims to be
successfully reimbursed, every step of the RCM
process is critical. Underestimating any of these
can may lead to aged claims getting piled up for
various reasons, and you not receiving the
payment.
Medical Billing Services in Oregon
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