Posted on Tuesday, December 27, 2016 7:13 PM
Providers need to focus on revenue cycle optimization by continually looking for ways to improve revenue cycle efficiency, reduce error and decrease the overall cost to collect.
In order to enable current financial success, providers must focus on improving revenue cycle performance to help organizations prepare for what’s to come. For example, physician practices need to make sure their revenue cycles are in order with effective processes across the board.
The following best practices could potentially help organizations take their revenue cycle operations to the next level:
• Reinforce patient collections
• Expedite accurate claims submission
• Leverage data
In order to maximize staff’s time and make sure all aspects of the revenue cycle are working together, this requires constant work in progress with a focus on leveraging automation. Organizations could potentially set themselves up for success by choosing to leverage data and focus on improving patient payment and payer reimbursement.
Corridor’s Healthcare Revenue Management Services bring over 20 years of best practice, scalable resources, and expertise to help you claim and receive the revenue you’ve earned. Contact Corridor to learn more.
For the full article, click here (must have a LinkedIn account to access).
About Corridor
Corridor is the nation’s preferred partner and trusted business advisor to home health and hospice providers, providing quality services and impactful results for 30 years. Focusing on key operational, regulatory and financial challenges, Corridor delivering industry-unique solutions and deep expertise in coding, clinical documentation review, compliance, billing and collections , consulting and provider staff education . At Corridor, we make the business of caring for people Better! For the most important industry updates and news that impacts home health and hospice, please make sure to sign up for our weekly newsletter to receive the latest up-to-date industry information direct to your inbox!
For additional information, please contact Corridor at 1-866-263-3795.
