How can providers improve RCM? 3 notes

Medical Economics provided three strategies for providers in the changing healthcare environment to stabilize their revenue.

1. Ensure patients follow through on their payments. Many patients are seeking electronic ways to pay their bills, including online patient portals and automated payment plans. Efficiency is key to getting patients to pay their bills.

2. Track your claims. Make effectively managing your claims with payers a priority for your center. Consider using dashboards equipped with updated claims information to truncate denial rates and boost collections.

3. Educate your staff on the revenue cycle. Staff should be strategically aligned around a revenue cycle goal and understand the importance of an effective RCM practice. Staff often answers patients' questions on what they owe and having informed staff often translates to more educated patients.

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