The complexities of healthcare reform can be overwhelming. Participating in the reform debate, while remaining focused on a quality healthcare practice, is a substantial challenge facing healthcare providers.
There is no shortage of advice for providers to improve their practice. A new consulting company, coaching service, best practices firm or related software seems to emerge every week. Healthcare professionals can often feel oversold on engaging these resources. Nevertheless, there are a few key points to accept when facing these daunting changes.
Cost reduction and improving patient care CAN be simultaneous.
Reducing administrative costs, improving the use of technology and adopting new best practices can achieve both. Take for example, the practice of “batching” patient visits to pre-qualify with insurance companies. Identifying claim denials in advance, and understanding the primary reasons for denials, will only help the practice reduce patient wait times during appointment check-in, keep the practice on-schedule and improve focus on patient needs. Rather than reacting to the denial during check-in or the billing phase, the practice can work with patients and insurance companies to resolve the issue proactively.
Improving cash flow helps your practice improve patient service.
Sound like just another marketing slogan? Consider the amount of time, energy and cost a typical orthopaedic practice dedicates to collections. Simple improvements such as increasing advance payments of co-pays and deductibles reduces the amount of focus on collections. Improved revenue cycle management will build a financially stronger practice, which is then empowered to provide stronger patient services.
Maximizing efficiencies means new methods and a new culture.
A resistance to change is a natural tendency. This is particularly true when healthcare has witnessed substantial shifts in policies and practices over the past several decades. Add rapidly changing technology and a plethora of legal issues and it is no surprise healthcare providers approach reform with a skeptical eye. Nevertheless, we cannot escape the realty that our current healthcare model is unsustainable. Every healthcare professional must again embrace new changes to processes, efficiencies and seek resources for implementing new systems.
Many of the fundamentals of revenue cycle management are directly tied to improving a practice’s ability to serve the patient and remain focused on the quality of care. Regardless of the future of specific reforms; change in the healthcare model is inevitable.
Let HIS Maximize Your Revenue Cycle
While you’re busy treating patients, let the HIS' experienced staff streamline and manage your billing and collection process. HIS can help you maintain an ease of practice so that you can focus on what you do best... providing a high-quality of care to your patients.