Here are five notes for physicians:
- An efficient revenue cycle allows practices to adapt to external forces more quickly as well as increase patient satisfaction.
- There are eight steps of revenue cycle management: Patient registration; Insurance verification; Patient check-in and check-out procedures; Medical billing and coding; Claim preparation and submission; Monitoring payer decisions of submitted claims; Preparing patient bills or statements; Managing payments and collections.
- Knowing the capabilities and drawbacks of your health IT software can help inform decisions to make the cycle more efficient.
- Making it a priority to submit “clean claims” can optimize the cycle.
- Working with staff to create best practices in order to avoid unresolved claim denials.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
