Four Ways to Optimize Your Revenue Cycle in 2021
With 2021 in full swing, healthcare providers must continue to manage workflow efficiency, budgeting, and the ongoing financial instability brought on by the COVID-19 pandemic. At the same time, patient payment responsibility remains high. Consequently, two-thirds of patients express concern about their ability to pay their healthcare expenses.
For healthcare providers looking to boost revenue cycle performance, claim denials can pose a big problem. Patients can pre-register online or via their mobile device to help reduce claim denials. Patient pre-registration is an important step that involves collecting critical information before a medical procedure or visit.
Patient benefits and eligibility verification are critical steps in the billing process. While this process is often time-consuming, it helps determine patients’ payment responsibility and can help ensure that providers get paid.
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