10 Tips to Maximize Your Revenue Cycle

10 tips, checklistIn healthcare there is so much to be concerned with all the time; finding the time to maximize time seems counterproductive. But you waste minutes and hours every week, month, or year doing things wrong. Follow these 10 steps and you’ll be that much closer to maximizing your healthcare revenue cycle management. 

  • Computer Management – If you have an inefficient program for accessing information you’re spending too much time doing the same thing over and over again.

  • Claims Management – One of the biggest healthcare revenue cycle management issues is making sure that the claims cycle is not going over the physicians head. There are resources available so that physicians don’t ever feel as though the information isn’t available.

  • Secure Network – Another problem with computer usage is the time your online service takes. Make sure you have the fastest online service around.

  • Active Claims – The claims process is time consuming for sure; taking an active rather than passive role can help with healthcare revenue cycle management.

  • Negotiations – As a physician they’re busy focusing on patient care. When the physicians have to enter into negotiations with health insurances they need to be prepared. A company like HIS or similar organizations are credible resources to negotiate the best contract you can get.

  • Risk Assessment/Adjustment – There are models which health insurers are using which could be taking advantage of physicians. Make sure you’re up to speed on what’s going on with the ever changing definitions of assessment and adjustment with regards to risk.

  • Get Hip to Medicare Changes – One of the big ones right now is “fee-for-service;” make sure you’ve got all the information about that so that you know what’s going on with the changing face of Medicare.

  • Billing – Streamlining your billing practices is only going to make your life easier in the end.

  • Discounts – If a PPO is getting people multiple discounts you should not be taken advantage of in this way.

  • Don’t Get too Comfortable – Broadly speaking the healthcare revenue cycle management is an always changing thing. Don’t ever get too comfortable with how things are because chances are their changing. Get yourself acclimated, hunker down, and do what you need to do to make your job easier for you.

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Photo Courtesy of Rawich