Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Revenue Cycle Improvements for Physicians and Clinics: an Overview

By Jacob Thomas Subscribe to RSS | December 12th 2011 | Views:

The revenue cycle management process starts even before the patient visits a physician’s office or a clinic or hospital and ends when full reimbursement is realized. The scope for improvements in the revenue cycle management process has been accentuated in the recent times due to changes in the health care industry and the health policies set up by the government.

Browse all: medical billing outsourcing

Better revenue cycle management has become a necessity and can affect the revenue and financial outcomes of physicians and health care providers more than it has done in the past. This is due to the fact that the number of insured is rising dramatically and also because of the changes in the way health care is delivered and the methods of reimbursements under the health reforms. Here are some simple ways to improve the revenue cycle management process and ensure that you, as a provider, optimally utilize the opportunities for collecting revenues from payers.

Point of Service Cash Collections

Point-of-service (POS) cash collections is an integral part of revenue cycle and such collections can make a huge difference in the long run. One of the best ways to manage such collections is to obtain patient insurance verification from the payers. Most insurance companies provide this information to physicians in order to ensure that payment arrangements can be made even before the treatment begins and also to make sure that the patient understands his or her financial obligations accurately. Collecting the co-pay or coinsurance from the patient becomes important considering that insurance companies tend to deny a huge number of claims just due to mistakes or errors. Moreover, such collection is especially important if the patient has a high-deductible insurance plan.

Reducing Write offs

Providers have to write off a big chunk of the amount owed to them in the form of Bad Debt because insurance companies can deny a claim on numerous grounds. This Write off can take a toll on the financial health of the physician’s practice in the long run if it goes unchecked and efforts are not made to collect such amounts. The role of collections in reducing Bad Debt is undeniable; however, there are other precautionary measures that can also reduce Write offs to a large extent. Some of these precautions include reviewing the insurance contract and reading the fine print in order to avoid denials at a later point in time, reviewing patient eligibility for the treatment with insurers, aggressive collection of co-pays at POS, and maintaining a small check-list for reducing Write offs in the future.

Check-list for Reducing Write offs

Preparing a check-list for reducing write offs can optimize an organization’s revenue cycle process and also help in determining the weaknesses in the system. Some of the major issues that can be addressed in such a check-list are if there are written guidelines regarding collection of co-pays, if the guidelines are reviewed when it comes to collection policies and procedures, training of office staff for collection of revenues, if monthly payments by patients (installments) are checked on a regular basis, what action is taken against patients who fail to pay what is due, and such other points that are directly related to debts or Write offs related to the practice. This process of reducing the write offs can be efficiently handled by preparing a checklist and such other efforts that usually prove cumbersome if carried out in-house and so can be outsourced to a third party which has the time and the resources to efficiently handle such processes.

Improving Patient Satisfaction

An efficient revenue cycle management process usually means that there is high patient satisfaction and customer retention. By utilizing methods such as patient liability estimations and POS collections can help in educating the patient about his or her financial obligations and understanding about the insurance coverage accurately. This helps in ensuring that the patient is not cheated out of his or her fair share of insurance coverage and also does not have any outstanding liabilities after the completion of treatment. Revenue cycle management is also about gauging the efficiency of delivering patient satisfaction and optimizing customer retention as well. Therefore good revenue cycle management is a win-win process for both patient and providers which can improve patient experience, patient satisfaction, enhance revenues and the job satisfaction that providers derive from their work.

For better revenue cycle management, consultancy, EMR implementation, and medical billing and coding, please visit, the largest consortium of medical billers and coders in the United States.

Browse all: medical billing services, medical billing companies

Jacob Thomas - About Author: is the largest consortium of Medical Billers and Coders in the United States. We offer Medical Billing, medical billing services, medical billing companies

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Business Articles Subscribe to RSS

Dental insurance billing services help maximize revenue
Published by Outsource Strategies International on February 3rd 2012 | Business
Dental insurance billing can help dental practices streamline their revenue cycle. Proper dental ins...
Dental insurance billing services help maximize revenue
Published by Outsource Strategies International on February 3rd 2012 | Business
Dental insurance billing can help dental practices streamline their revenue cycle. Proper dental ins...
Medical billing service: Secret behind health care institutes’ top level service
Published by Activemds on April 17th 2012 | Business
Around the world, medical and health care service of United States is appreciated for its quick and ...
Catheter along with it's medical applications
Published by Ema Sis on April 18th 2012 | Business

In medical science catheter marking relates to the usual process in virtually all health facilit...
Optimising venture who have medical equipment suppliers to boost productivity
Published by Jose Larry on May 29th 2012 | Business
Well being appliances are replacing frequently with fresh, new products are going online on the mark...
Predicting the scope of medical billing consultants after 2014 and beyond
Published by Jacob Thomas on May 24th 2012 | Business
Although it has been quite a while since the Federal Government announced a series of far-reaching h...
Techniques for medical equipment manufacturers Through Supercharge your provide you with company lately!
Published by Samuel Willie on May 29th 2012 | Business
Advancing produce thread control might be a section of concern through a large amount of insurance c...
The many medical device distribution programming back European union
Published by Caedmon Scott on May 25th 2012 | Business
Absolutely new Euro directives is discussed completely for any selling and additionally passing them...
HIPAA compliant medical billing and coding for the healthcare industry
Published by Outsource Strategies International on June 7th 2012 | Business
HIPAA compliant medical billing and coding enable healthcare firms to submit insurance claims prompt...
Zadroga attorney enable to get better medical aid and healthy lifestyle
Published by Jennifer Weinstein on January 6th 2012 | Business
Zadroga attorney assist the victims of 9/11 terror attack, to get well deserved reimbursement for be...
Zadroga claim helps to provide medical and financial support to victims
Published by Jennifer Weinstein on December 19th 2011 | Business
The Zadroga Claim provides financial aid to the victim which helps them to fight the health problem ...
Enhancing medical device regulations - Facing this implies to get a industrial sectors?
Published by Gerald Keith on May 31st 2012 | Business
Exactly so are we on course with the healthcare industry ski they medical device regulations on hand...
HIPAA compliant physician billing services for gastroenterologists
Published by Outsource Strategies International on March 5th 2012 | Business
Medical billing companies provide all healthcare specialists, including gastroenterologists, efficie...
Medical billing classes include introduction to the procedure of medical billing
Published by Medicalbill12 on February 3rd 2012 | Business

The development of Medical billing classes is an outcome of the growth of the healthcare industr...
Use internet for buying medical supplies online
Published by Chooseems on July 6th 2012 | Business
You need to be extra careful while shopping on the internet. When it is about buying medication, the...
The best courier service is provided by us including medical delivery
Published by Coloprilreview on December 1st 2011 | Business
Most of the delivery services comprise of Cargo Management, shipping, Cargo Express Movement & Wareh...
Being aware of the Sorts of medical Loans
Published by John Schubert on August 17th 2012 | Business
The charges of medical procedures and therapies can add up easily to thousands of dollars. When you ...
Need for medical contract manufacturing
Published by Ema Sis on March 24th 2012 | Business
The medical device contract manufacturing for the most part offers along with the assembly of highly...
Which were i would say the top medical device companies? and furthermore go about doing their specific be taken bracelets problem?
Published by Ryan Roger on May 30th 2012 | Business
Trading wants a wide range of plans and in addition association. This may equal more true designed f...
Get best medical facilities with the help of James Zadroga Act
Published by Jennifer Weinstein on January 20th 2012 | Business
There are exceptionally skilled lawyers available in United States who have vast knowledge about the...