The prevailing discourse in healthcare technology focuses primarily on clinical efficacy, cost-efficiency, and evidence-based treatment plans. Within practice management, the emphasis largely falls on revenue cycle management and system interoperability. Despite healthcare being one of the largest sectors in society, the importance of leveraging technology to enhance the patient experience has only recently come to […]
Tagged in: Practice Management Software
Reducing Claims Denial with PHIMED PhyGeneSys Solution
As a healthcare provider, you know the frustration when medical claims are kicked back. Not only does it cost you time and money to analyze and resubmit the claim, but denials can also lead to lost revenue and decreased patient satisfaction. Minimizing claims denial is arguably the biggest challenge facing medical practice management. It’s no […]
Enhancing Reputation Management for Healthcare Practices
Achieving unparalleled excellence in medical practice reputation is no small feat; it demands more than clinical proficiency and cultivating exceptional patient interactions. Reputation management requires a practice-wide focus on seemingly minute details such as accurate service charges, precise coding, and comprehensive charge information. These factors wield a substantial influence on a healthcare practice’s reputation. Yes, […]
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 […]
You Can’t Manage What You Don’t Measure
Eliminate Coding Errors, Measure Claim Success Rate, Collection Time, and Cash Flow. Evidence-based medicine from clinical research is fairly standard in the quality healthcare. Yet not everyone takes the time of effort to apply the same systemic approach when managing medical revenue cycles. Implementing and tracking Key Performance Indicators (KPIs) will help you understand your […]
The Case for Innovative Solutions to Assist with Staff Recruitment, Retention, and Greater Satisfaction
In 2019, the World Health Organization declared employee burnout a global organizational phenomenon, and, since 2019, U.S. turnover and job vacancies have markedly increased. The Bureau of Labor Statistics, a division of the Department of Labor, reports that, thus far in 2022, 1.7 million health care workers left their jobs, and approximately 20 million U.S. […]
How Technology Aids Patient Engagement
You may think that technology creates a barrier to patient engagement, but studies show the reverse to be true. Let’s start by acknowledging that patients in a growing percentage of the population are shouldered with medical debt. In 2022, for example, the Kaiser Family Foundation reported that more than 100 million adult Americans (58% of […]
