Best practices of a revenue cycle management
Medical practices now have an increased obligation to optimize payment collections and all other facets of healthcare RCM due to the constantly evolving healthcare rules and reimbursement models. Even though there are very important obstacles to overcome, using best practices increases collections. Additionally, it lowers expenses throughout the revenue cycle and aids small practices in better comprehending, measuring, and managing its financial components. 1. Enhance front desk operations and collections When making appointments, teach your front desk personnel to ask patients for all the relevant demographic and insurance information. Use "communication scripts" to assist staff in educating patients on the various payment options or plans accessible to them as well as co-pay collection. Patient happiness and revenue optimization are both influenced by a front desk staff that is properly trained. 2. Automate the process of determining insurance eligibility Verifying insu