Partners in Revenue Cycle Management

As a healthcare leader in 2020, your bottom line is largely dependent on your ability to get claims paid accurately and on time—contributing to predictable cash flow and less costly re-work by billing staff. So keep the New Year going strong by taking steps to improve that bottom line.

The first step?

Begin by taking a closer look at your clearinghouse, which is arguably the most important technology in the revenue cycle. It is responsible for transmitting claims to payers, but even more importantly, it should have powerful claim scrubber technology. A clearinghouse that submits inaccurate claims, while touting a high clean claim rate, will create more follow-up work and increase operating costs.

Don’t take your clearinghouse for granted.

Setting Your Revenue Cycle Goals

The best hedge against problems down the road is a solid plan. Even the most well-run organizations can benefit from goal setting at least annually. Giving yourself and your staff a set of goals to strive for provides you with benchmarks that help you determine if you are succeeding.

To realize your goals, you need to know how to set them. Goal setting is a process that starts with careful consideration of what you want to achieve, followed by specific steps, and some hard work.

What to Watch in 2020

As is usually the case at the beginning of a year, health care providers can expect new rules and regulation changes from the Department of Health and Human Services.

Recently, there has been significant policymaker focus on the issues of price transparency. Here’s a look how some of the changes could impact health care providers and insurance plans.