As an independent physician, it’s easy to get caught up in the day-to-day tasks of practice operations and management, pushing aside tasks associated with maintaining a healthy revenue cycle. However, maintaining a healthy revenue cycle isn’t only important for the success of hospital systems: it is also essential for independent practices as well.
While there are many ways to improve revenue cycle management, this whitepaper covers three key strategies to consider:
Negotiating with payers is critical to overall revenue cycle health. Coming prepared to negotiation meetings and approaching each negotiation as a collaborative effort are strategic ways to do so effectively.
Maintaining a healthy AR is vital to the financial performance of your medical practice. Once you've identified areas that are troublesome to your practice's AR, strategic steps can be taken to get it back on track.
Preventing and reducing unpaid claims is an important aspect of maintaining a healthy revenue cycle. This includes developing a practice-wide strategy to deal with denied claims and setting priorities.