Uploaded on Jun 27, 2020
Improve revenue, address denied claims quickly, and use the latest technology to streamline and optimize revenue cycle management processes
How to Optimize Healthcare Revenue Cycle Management
How to Optimize Healthcare
Revenue Cycle Management?
www.ecareindia.com
www.ecareindia.com
Revenue Cycle Management
• Revenue Cycle Management is one of the major
processes in medical billing.
• RCM process is the primed for revenue improvement.
• RCM is the process of collecting and managing the
business revenue from payers based on the services
rendered.
• Successful revenue cycle management is required to
keep up the financial viability.
Let’s discuss the revenue cycle management optimization.
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Medical Coding & Billing
• For a smooth revenue cycle, medical billing and coding
should be done accurately and the claims should be
submitted within the stipulated turnaround time as it
directly impacts the practice’s revenue.
• Medical coding updates make the coding process more
complex, For this reason, the medical coder should be
regularly updated with coding procedures for each payer.
• Accurate coding reduce claim denials rate.
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Eligibility Verification
• Eligibility verification is the most significant way to
optimize the revenue cycle.
• Verifying the patient’s coverage details with the payers is
the initial step of revenue cycle management.
• Any service rendered without taking an initial step of
insurance eligibility verification, might leads to several
complications to the billing company as well as their end
client.
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Accounts Receivable Follow Up
• To maximize the practice’s revenue, you have to do patient follow
up and denial management.
• Generate account receivable aging report. Based on that report,
focus on the past due- receivables and act quickly with the help
of the account receivable follow up team.
• Having consistent follow-up with patients enhances the
reimbursement process.
• Denial management identifies the claim rejection reasons and
resubmits error-free claims without any delays.
• The entire process is meticulously tracked by the AR follow up
team until the claims get paid.
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Prior Authorization
• Prior authorization is one of the essential parts of the
healthcare revenue cycle.
• Incomplete documentation and improper pre-
authorization may lead to claim denials.
• Pre-authorization is the most important procedure to
make sure timely reimbursement for services.
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Outsourcing Revenue Cycle
Management
Outsourcing revenue cycle management provides following
benefits for medical billing companies
• Timely reimbursements,
• Improves cash flows,
• Improves profitability and efficiency
• Streamlines operations
• Reduce billing errors
• Reduce claim denials rate etc.
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Revenue Cycle Management Optimization
-Solutions
• Reduce costs
• Increase operational efficiency
• Eliminate redundancies
• Enhance the reimbursement
• Increase patient collections
• Improve patient engagement
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About e-care India
• e-care India is the top revenue cycle management company in
India.
• We have 20 years of experience in the healthcare industry. Our
company has twin certifications to ensure the highest PHI security.
• We provide medical billing and coding services and revenue cycle
management that include insurance eligibility verification, denial
management, account receivable management, payment posting,
etc.
• We are experts in denial resolution, claim follow-up, claim appeal
submission, etc. To know more about our services, visit us at
www.ecareindia.com
www.ecareindia.com
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