Measuring the financial health of your practice plays an important role in future growth. When you understand the metrics that impact your revenue cycle, you can better manage your overall process by making strategic changes to increase revenue and lower costs.
Many claim that people in the United States have access to the best healthcare in the world. And while that is easily refuted with data from multiple sources, there is no question that the United States has one of the most complex healthcare delivery systems in the world. The combination of public ...
As both providers and patients cope with the impact of COVID-19’s high cost, little relief is in sight.
Patients who do not show up for scheduled appointments disrupt practice flow by taking dedicated time slots away from other patients and negatively impact the productivity of both the provider and staff. Practices often waive ‘no shows’ as a normal part of business but when translated to a bottom-line impact, using a rate of collections per ...
Today, providers need to place more emphasis on collection from patient balances since there is more financial responsibility from insured patients. This is a direct result from high dollar deductible health plans associated with health saving accounts or tax-advantaged medical savings accounts.
The ACA’s tax on high-cost health plans—or “Cadillac Tax”—would affect one in five employers offering health benefits when it takes effect in 2022 unless employers change their health plans, according to a recent analysis.
Patient satisfaction, loyalty and retention — these are the lifeblood of any medical group. But in today’s ever-evolving healthcare landscape, how do you authentically and successfully nurture them?
In today’s billing environment, increasingly higher payment responsibility resides with patients. Self-pay accounts have steadily grown to essentially their own payer classification. While the best practice is
In order to maintain financial stability in an ever changing industry, healthcare providers need to develop a better understanding of the impact front end processes have on the revenue cycle. With this in mind, let’s take a look at five ways providers can drastically improve office flow and maximize reimbursement by bringing the front end back ...