Proven Tips To Improve Your Revenue Cycle Management

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Proven Tips To Improve Your Revenue Cycle
Management
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INTRODUCTION

• Revenue Cycle Management is a significant aspect
  of every providers facility as they work to cure
  the people and billing companies or their
  in-house staff work to collect co-pays, verifying
  insurance data, collecting post visit balances,
  and much more.
• More than 3 out of 4 healthcare leaders say
  denials are their greatest challenge, according
  to a Healthcare Information and Management
  Systems Society (HIMSS) survey.

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Tips To Improve RCM

• Adoption of New Technology
• List your most frequently billed codes
• Monitor Updates
• Effective Billing Systems
• Identify Uncollected Debt
• Improve Claims and Denials Processes

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Adoption Of New Technology

• In the current COVID-19 situation, it has been
  logical that technological adoption is increasing
  at a faster pace in the healthcare industry than
  ever. New technology tools like digital payment
  gateways, electronic claim submission, advanced
  reporting and others are playing a great role in
  the Revenue Cycle Management process.
• So, all providers need to use advanced technology
  tools so that this will help in patient
  communication and to optimize the RCM process for
  your practice.

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2. List Your Most Frequently Billed Codes

• Normally, most frequent medical codes account for
  roughly 70 percent of your practice. Once you
  list your top billed CPT codes, add fee schedule
  rates according to payers and code to the matrix
  for an ongoing rate analysis and comparison.
• This will help providers to understand which
  payers are most valuable for your bottom line.

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3. Monitor Updates

• It is the practices responsibility to monitor
  changes to payers guidelines and fees.
• Use of the internet is a good idea to check the
  payers updates, by visiting the appropriate
  payers and government website you can check
  their recent published updates.
• Here are few websites to check updates
• Medicares Updates
• Federal Register

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4. Effective Billing Systems

• The billing issues are the most common reasons
  for delayed payments. Patients get confused when
  they find some complicated or unwanted terms and
  conditions in their medical bills. This results
  in billing conflicts and delayed payments that
  affect your practice RCM process.
• At MedisysData, you can easily restructure your
  billing processes in a perfect way without any
  errors. This will help you to increase patient
  engagement and to achieve a better payment cycle
  and better outcomes for your RCM.

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5. Identify Uncollected Debt

• Apply an effective solution to the uncollected
  sums due before sending that cash to
  accumulations where your return is sliced down to
  half when collected.
• By utilizing correct practice management
  software with experienced professional medical
  billing companies like MedisysData can help you
  to identify uncollected debt effectively.

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6.Improve Claims and Denials Processes

• Patients often have a difficult time
  understanding their insurance cards. As time
  progresses, insurance policies become more and
  more difficult for patients to understand.
• Beyond this, properly processing claims has
  become more difficult for the provider.
• By working to analyze the data on denials, issues
  can be found that will be improved during the
  process of improving RCM.

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Why choose Medisys Data Solutions for Medical
Billing Services?

• Highly qualified professionals with extensive
  knowledge of medical and DME billing
• Easy and hassle-free onboarding for new customers
• Excellent control over pending, and rejected
  claims and receivables
• Communication that is smooth and open at every
  stage of the medical billing process
• Devoted, knowledgeable, and certified billing and
  coding team for your DME facility with top-notch
  claim management system
• Your questions and clarifications will be
  answered immediately and in real-time

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Conclusions

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About Us

• Medisys Data Solutions is a leading medical
  billing company providing complete assistance in
  medical billing and coding. We can assist you in
  receiving accurate insurance reimbursement from
  private and government payers. With our services
  like benefits verification and credentialing
  enrollment, you can add more providers in your
  practice. To know more about our specialty
  specific medical billing and coding services,
  contact us at info_at_medisysdata.com/ 1
  888-720-8884 .
• GET IN TOUCH
• 1 888-720-8884
• Address
• Medisys Data Solutions Inc.
• 8 The Green STE A, Dover, Delaware 19901,USA
• Email info_at_medisysdata.com

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Thanks

• Do you have any questions?
• info_at_medisysdata.com
• 1 888-720-8884
• medisysdata.com