7 Revenue Cycle Management Best Practices
Posted Oct 10, 2021 from emds.com
Every practice’s revenue cycle management is the same. It starts when a patient sets an appointment, and it ends when the practice receives payment. Managing your revenue cycle sounds simple enough, but the reality is there are lots of opportunities along the way where simple mistakes can cost your practice money.
For over 20 years ARIA Health Services has been offering revenue cycle services to our customers. Along the way, we’ve picked up a trick or two for establishing RCM best practices. Here are a few best practices to consider when looking to improve your medical billing operations.
Prevent Physician Enrollment Issues
Credentialing and enrollment are critical components of effective revenue cycle management. Yet, most practices dismiss these as unimportant. Lapsed credentials or failing to enroll new providers in a timely manner can mean lost revenue, delayed payments, out-of-network services, and denials. It’s important that you consider credentialing and enrollment as part of your healthcare revenue cycle management big picture and dedicate time and resources to managing this important task.