Expert Tips To Improve Your RCM Process - PowerPoint PPT Presentation

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Expert Tips To Improve Your RCM Process

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With the ever-changing technological development, RCM serves to be the foundation of the healthcare industry. Here are the 8 master tips to improve your RCM process. – PowerPoint PPT presentation

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Title: Expert Tips To Improve Your RCM Process


1
Expert Tips To Improve Your RCM Process
  • www.vozo.xyz

2
Introduction
  • With the ever-changing medical procedures and
    technological development, revenue cycle
    management serves to be the backbone of the
    healthcare industry with continuous improvement.

3
What is RCM Process?
  • RCM process is not just about submitting claims,
    an efficient revenue cycle management service
    cycle includes step by step process of
    scheduling, Patient registration, Insurance
    Eligibility, Patient Demographics, Coding and
    Billing, Charge Entry, Claims submission, Payment
    Posting, AR follow up and Denial Management. 

4
8 Tips to Improve Your RCM Process
5
1. Implement Automated Workflows
  • Automated workflows - A faster more accurate
    way of managing your revenue cycle. 
  • Implementing automated workflows significantly
    increases your valuable time while the
    effectiveness of your revenue cycle management
    automatically improves.

6
2. Patient Preferences
  • Automating RCM not only depends on healthcare
    providers alone.
  • You can also improve the RCM process by making it
    easier for patients to submit payments by
    providing them advanced features such as online
    payments.

7
3. Remain Up-To-Date With The Industry Changes
  • As technology is growing day by day, the
    healthcare needs of the patient also increase in
    the healthcare industry.
  • You need to consider how selective patients are
    and provide the attention and availability they
    want as well as the advanced services they need.

8
4. A dedicated Care Coordinator Is Important
  • Care coordinators can play an important role in
    making sure health systems and providers
    recognize care quality goals and formulate
    programs that ensure the highest payouts, and
    which also boost patient loyalty and health
    outcomes.

9
5. Lost Payments
  • In your RCM cycle, you should be collecting the
    full payment that every patient/payer owes.
  • At times, this may come down to re-submitting
    claims and following up with patients more than
    once. 

10
6. Use The Best Software Solutions
  • The best revenue cycle management software and
    online patient portals are a must for
    streamlining patient communication and payments.
  • Cloud-based RCM software like Vozo offers medical
    providers the unique ability to aggregate claims
    filing, invoicing and payment transactions,
    appointment scheduling.

11
7. Collect Payments Upfront
  • Start collecting payments before you render
    services.
  • This will cause a major shift in how much money
    is sitting in accounts receivable for an
    indefinite period versus what can be counted as
    revenue.
  • Even if you choose to only collect a partial
    payment, thats an improvement.

12
8. Measure Your Results
  • Successful revenue cycle management relies on
    measuring key rates and statistics and setting
    regular goals to measure the efficacy of workflow
    changes and updates to existing protocols.
  • The other key metrics to monitor include the
    reason why your patients miss appointments, the
    reason for denied claims, and the average number
    of days it takes patients to settle a bill.

13
Vozo Smart RCM Solutions To Boost Your Practice
Revenue
  • VOZO delivers patient-focused revenue cycle
    management (RCM) solutions that help hospitals in
    increasing cash flow by managing denied claims
    and improving patient satisfaction. 

14
  • Read More About RCM Healthcare News
  • _at_
  • Vozo Blog

15
Vozo EHR Software
  • Contact us
  • Vozo
  • 42240 Mason Ridge Ct, Brambleton, VA 20148
  • 571.213.3245
  • https//vozo.xyz
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