Underpayments pose a persistent challenge in healthcare billing, impacting the revenue cycles and operational efficiency of healthcare providers. This blog delves deeper into various strategies and technologies that healthcare providers can employ to minimize underpayments effectively. Understanding and Preventing Underpayments The first step in tackling underpayments is understanding their origins, which often include coding errors, […]
Tagged in: Automation
Strategic Billing: Transforming Medical Debt into Recovered Dollars
With medical practices being pressured by escalating costs and complex regulatory requirements, efficiency in medical billing is essential for sustainability. According to GITNUX Market Data Report 2024, the US healthcare system loses up to $935 million a week because of medical billing errors. For healthcare providers looking to navigate the intricacies of practice management, the […]
Embrace Efficiency:
Six Ways Automation Transforms Medical Billing
In the intricate world of healthcare revenue management, the difference between thriving and merely surviving often hinges on the efficacy of your billing processes. Did you know that poor billing practices cause doctors in the US to lose an estimated $125 billion dollars each year? Automation stands as a beacon of progress, offering a multitude […]
A Path to Financial Excellence: Maximizing Profits Through Optimized Revenue Cycle Management
Addressing issues in your revenue cycle might initially seem overwhelming, something like a complex medical treatment plan, but rest assured, the journey to fiscal excellence follows a well-defined strategy proven to yield exceptional outcomes. The percentage of revenue and efficiency gained varies, depending on existing conditions (just how sick is the patient?) but the objective […]
How to Prevent Medical Claims Denial: Follow These Steps and Increase Your Clean Claim Rate
At the risk of stating the obvious, the ever-increasing regulations and shrinking reimbursements have pushed revenue cycle management to the front of the line for medical practices, including billing companies. It’s truly unfortunate; delivering exceptional patient care is challenged by the financial burdens of payroll, overhead, and retained earnings. Fortunately, there is a solution, but […]
A New Best Practice: How RPA Will Revolutionize Your Revenue Cycle Management
If you follow technology advances in healthcare administration, you’ve probably read about Robotic Process Automation, or RPA, and how it’s revolutionizing revenue cycle management. Because RPA is viewed as ‘new,’ it’s often marketed as a separate technology, an add-on so to speak. However, a few billing and management solutions, such as PhyGeneSys, have always offered […]
More Than Software: How Medical Revenue Cycle Management Systems Enhance Organizational Knowledge
Organizational knowledge refers to the collective knowledge and expertise that is possessed by an organization. It includes explicit knowledge that is documented and codified, as well as tacit knowledge that is held by employees and is difficult to articulate or transfer. Organizational knowledge is a valuable resource that can contribute to an organization’s success by […]
