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Don’t Let Revenue Leakages Affect Your Patient Care Read Through several methods to halt revenue leakage from your hospital and make the profit and loss statement look more promising than ever ! at http://bit.ly/3YjlwSK Reach out to Medisys Data Solutions Billing and coding experts Call Now at +1 888-720-8884 (Toll-Free ) / [email protected] contact us at http://bit.ly/3W5qCAc Media Contact Abby, Medisys Data Solutions Inc, 8 The Green STE A, Dover, Delaware - 19901 Tel: +1 888-720-8884 Email – [email protected] Website – https://www.medisysdata.com/
Don’t Let Revenue Leakages Affect Your Patient Care
Don’t
Let
Revenue
Leakage
s Affect
Your
Patient
Care
INTRODUCTION
❏ Tracking, overseeing, and managing the
entire revenue cycle of a hospital is
known as revenue cycle management.
❏ A hospital’s income cycle is universal.
You can choose to effectively manage it
or not. It would be similar to not caring
for your body if you didn’t manage your
revenue cycle. Even though you may
believe everything is alright, you are
probably losing money and misusing your
time.
❏ Mismanagement of your revenue cycle
will have devastating effects for a
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paign=Medisysmt
period of time.
❏ Read Through several methods to halt
revenue leakage from your hospital and
make the profit and loss statement look
more promising than ever ! at
http://bit.ly/3YjlwSK
Potential Revenue
Cycle Issues
1. Billing mistakes
2. Timekeeping mistakes
3. Mistakes in data entry in
general
4. Errors in contract renewal
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How to stop
revenue
leakage?
● There are scores of measures that can cause the
drips that are leading to loss of your profitability.
Every hospital experiences some sort of revenue
leakage, which results in a loss of considerable
income and profitability. You already have plenty to
worry about, from rivalry to emerging trends, so
stop worrying about these process and system
problems. Can you, however, afford to ignore it?
● Here are several methods to halt revenue leakage
from your hospital and make the profit and loss
statement look more promising than ever after
studying the typical revenue leak points in a
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● Let’s jump right in, shall we?
1. Process
Optimization
● Even before the patient’s revenue cycle starts,
there can be incidents that result in revenue
leakage.
● Providers run the risk of payors rejecting claims
immediately away if staff members enter patient
and health insurance information inaccurately.
● Making errors when adding line items for services
provided and equipment utilized to claims further
increases the likelihood that a claim will be denied.
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disysmt
2. Outsourcing RCM
and AR
● Consider
outsourcing your revenue cycle and receivables manageme
nt
if your healthcare firm experiences revenue
leakage.Clinicians can concentrate on providing care while
others take on the responsibility of limiting losses when
they collaborate with an RCM business like Medisys Data
Solutions.
● The primary sources of income leakage for your company
can be found by using RCM firms’ experience and analysis
of your processes and data.
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minimizing losses, from insights exposing how to optimize
the follow-up operations for accounts receivable to
renegotiating payor contracts due to persistent
underpayments.
3. Big Data
analysis
● Big Data Analysis is the term used to describe large
data sets that have been gathered from many sources
and reveal trends and patterns but are too complex to
be processed by a regular computer.
● Big data analytics can be used by providers to alert
them to oversights that lead to revenue leakage and
find fresh ways to get paid.
● Big data analytics enables service providers to compile
reports highlighting problems like:
-Inaccurate insurance data
-Payor reimbursement adjustments and
underpayments for comparable services
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codes)
4.Improving
Services
● Building customer loyalty and gaining additional
patients through word-of-mouth advertising can
be accomplished by enticing customers to seek
out in-person therapy once more and keeping
them involved in the treatment process.
● Although these strategies can undoubtedly
increase healthcare revenue, providers should
also work to improve their services.
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5. Bid adieu to the
underachievers
● It is important to identify non-performers—whether
they be persons, machines, or materials—give
them a chance to succeed, and in the event of
failure, replace them.
● Nobody works for free at your hospital; you are
required to pay a salary, which is money. Spend it
on the appropriate personnel and resources.
● Ask your HR department to create your appraisal
system so that you can distinguish between
contributors and non-contributors with accuracy.
● Be prepared to occasionally make tough judgments.
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● For a clinic to see an increase in
revenue, medical billing services
muCsto bne copltuimsizieodn. Ist h:elps to
pinpoint potential latencies and boost
efficiency.
● By contracting with experienced
service providers for medical billing,
you may streamline your billing
procedure.
● They have experience with bills and
are aware of all potential areas for
error.
● Making the correct outsourcing firm
selection will undoubtedly improve
the practice’s billing cycle and
increase revenue.
● What are you waiting for, Medisys
Data Solutions is merely one click
away!
Why choose Medisys Data
●SHoiglhuly tqiuoalinfiesd pfroofres sMionealds wicitha elx tBenislivlei ng
knowledge of mSeedicravl aincde DsM?E 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
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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
[email protected]/ +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: [email protected]
Thanks
Do you have any questions?
[email protected]
+1 888-720-8884
medisysdata.com
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