December 13, 2018
Whether a solo practice or multi-specialty groups owned by a large health system, medical practices all face certain challenges. But there are ways to optimize revenue, maximize payer contracts and accurately report quality by taking a more data management structured approach. Coding Optimization is the blend of capitated, fee for services and cash pay services and it varies by organization/time/patient mix.
The consumer landscape is changing, and healthcare organizations must stay ahead of the curve to succeed. Physicians must ensure timely and accurate charge capture, underpayment review, clinical documentation improvement, and accounts receivable acceleration.
- The content will provide tactics to improve a medical practice’s revenue and performance.
- The focus is to inform operations, guide a thorough review to root out inefficiencies.
- Establish baseline metrics and formulate plans to eliminate those issues.
RCM systems must capture and validate data as it is entered, where it is entered, minimizing errors and ensuring compliance with payer rules. Optimized performance requires systems and organizations to avoid duplicate data entry and file maintenance minimizing costs and clerical errors. Patients and clients can have 24/7 access to real-time data about their accounts increasing overall satisfaction. All of these capabilities require that the RCM system and operations be able to support the goals and patient care metrics effectively.