Financial/Revenue Cycle Management
According to RevCycle Intelligence, more than 36,000 practices were sold to hospitals and corporations between 2019 and 2021. As the costs and challenges of running an independent practice rise and Medicare physician payments drop, it’s becoming more difficult to maintain autonomy.
Collecting patient payments over the phone required multiple billing employees to make calls and was a labor-intensive, slow process. In addition, patients’ parents were often reluctant to share credit card information over the phone.
There’s no easy way to manually keep up with changes in eligibility and coverage. With the right tools, your team can handle eligibility verification for all payers with ease using just one user-friendly interface.
Inefficiencies in submitting and paying claims, compounded by legacy IT architectures, result in growing administrative spending and healthcare costs.
Although Medicaid is the single largest payer for mental health services, states’ disenrollments and changes to Medicaid managed care programs complicate the billing and claims process further.
Reimbursement requirements for mental and behavioral health services have become more complex, leaving many providers struggling to balance the priority of the patient experience and financial stability.
If mental and behavioral health patients don’t present insurance information during intake, Medicare or Medicaid may be billed when a patient is actually covered under a managed care organization or Medicare Advantage plan.
Join us for this informative webinar where we’ll share key insights to help healthcare leaders like you understand where your peers are relying on native EHR capabilities and where they’ve opted to partner with third-party RCM providers. We’ll explore differing approaches so you can develop a comprehensive strategy to identify...
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03:52 pm
August 13, 2024
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While most healthcare organizations (HCOs) have processes in place around contract creation, procurement and onboarding, these processes are generally manual, costly and time-consuming. This results in visibility gaps that increase the likelihood of errors, omissions or contract delays.
