The document outlines 13 steps to improve revenue cycle management in 2024. The steps include collecting accurate patient information, scheduling appointments efficiently, conducting pre-visit financial counseling, checking for medical necessity, using accurate coding, submitting clean claims, monitoring claims status, appealing denied claims, accurately posting payments, following up on outstanding balances, monitoring key performance indicators, continuously improving processes, and staying updated on industry news. The overall goal is to enhance practice revenue through optimizing revenue cycle management.

1. 13 Steps To Improve
13 Steps To Improve
13 Steps To Improve Healthcare
Healthcare
Healthcare
Revenue Cycle Management
Revenue Cycle Management
Revenue Cycle Management in
in
in
2024
2024
2024
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2. Ensures that the practice is aware of any
co-pays, deductibles, or out-of-pocket
expenses that the patient may be
responsible for.
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Collecting accurate patient information is crucial
for successful RCM. Make sure to obtain complete
demographic and insurance information from
the patient at the time of scheduling the
appointment.

4. Efficient scheduling practices can significantly
impact RCM. Make sure to schedule
appointments in a way that maximizes
physician productivity while minimizing wait
times for patients.
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Pre-visit financial counseling can help patients
understand their financial responsibility and
reduce the likelihood of unpaid bills.

6. Before any services are rendered, make sure to
check for medical necessity. This step ensures
that the services provided are necessary and
will be covered by insurance.
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Accurate coding is essential for successful RCM.
Make sure to assign the correct codes to services
rendered to ensure timely payment.

8. Submitting clean claims is crucial for timely
payment. Make sure to double-check all claims
before submission to ensure that they are error-
free.
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Monitoring claims status is essential for
successful RCM. Make sure to track all claims and
follow up on any denials or rejections promptly.

10. Appealing denied claims can significantly
impact RCM. Make sure to appeal any denied
claims promptly and provide any necessary
documentation to support the claim.
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Accurate posting of payments is crucial for
successful RCM. Make sure to post all payments
correctly to ensure that patient accounts are
up-to-date.

12. Following up on outstanding balances is
essential for successful RCM. Make sure to
contact patients with outstanding balances
regularly and provide payment options if
necessary.
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Monitoring KPIs can help practices identify
areas where they can improve RCM. Make sure
to track metrics such as days in accounts
receivable, clean claim rate, and denial rate.

14. Continuous improvement is crucial for
successful RCM. Make sure to regularly review
RCM processes and identify areas where
improvements can be made.
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Work with us to Enhance Your
Practice Revenue
Stay updated on the latest billing tips, industry
Stay updated on the latest billing tips, industry
news, and more by connecting with us
news, and more by connecting with us
Feel free to reach out to us
Feel free to reach out to us
sales@allzonems.comcom
sales@allzonems.comcom
+1 866-854-2714