Improve Medical Accounts Receivable
Collecting What is Owed, sooner
Improving your accounts receivable in healthcare requires active management of your revenue cycle and addressing any process inefficiencies. Dedicating efforts towards optimizing administration, running AR reports, and tracking claims help providers in the healthcare practice recover what otherwise would be lost revenue.
Should aging accounts receivable begin to pile up, providers may wish to investigate outsourcing reimbursement collection to a revenue cycle management (RCM) company like Sagewood Medical Practice Management.
An Efficient Revenue Cycle Is Critical To Maintaining Good Finances. Contact Sagewood Medical Practice Management Today To Partner With Our Team Of Dedicated A/R And RCM Specialists.
Improve Collection Efficiently, Reduce A/R Days And Drive-Down Aging Hospital Receivables
The healthcare revenue cycle is fundamental to healthcare providers’ ability to maintain physician compensation, keep up with overhead, and invest in new technologies. When the healthcare revenue cycle is not managed well, collection efficiency drops and accounts receivable (A/R) days increase. Numerous tasks go into the revenue cycle, from collecting insurance and procedure data to preparing claims to billing patients. When any of these processes are inefficient or ineffective, the healthcare revenue cycle is needlessly prolonged.
Streamlining the healthcare revenue cycle involves ensuring collection efficiency and monitoring Accounts Receivable days. With a well-managed revenue cycle, money comes in faster, with less effort. Everyone has a role, from physicians, nurses, and other clinicians to medical accounting staff to administrative workers. Here are four ways to improve collection efficiency and reduce A/R days.
- Make the Healthcare Revenue Cycle More Front-End Driven
- Put Your Enterprise Data Warehouse to Work
- Have a Robust Plan for Reducing and Handling Rejected Claims
- Ask Frontline Staff What They Need to Be Most Effective
Sagewood Medical Practice Management's A/R Specialists Keeps You Organized When It Comes To Billing And Payments.