When Is the Last Time Your Practice had its Revenue Cycle Check-up?

Regardless of how large or small a practice might be Revenue Cycle functions are at the very heart of its financial health. It is the life source of cash flow and efficient operations. Yet, most practices neglect to maintain it as long as money is flowing through the bank account. Revenue cycle management is a complex system requiring a synchrony of technology, skill, compliance, integrity, and analytics. It is inevitable that somewhere or someone will make a mistake. And, one small undetected error can affect hundreds or thousands of claims and cost your practice thousands to millions of dollars in uncompensated revenue.

What a Revenue Cycle Check-up Can Do For Your Practice

A thorough audit of charges, claims, and payments can help maximize reimbursements, avoid costly mistakes --better yet prevent government audits. Scheduling routine assessments can help identify areas where significant improvements in workflows can streamline billing processes to decrease denials, reduce the number of days claims sit on the A/R, and get claims paid faster. As like health maintenance, pro-active care of revenue cycle is less costly when maintained at the preventative level.

Contact us today for a revenue cycle check-up and find out what billing practices may be affecting the health of your bottom line.