Claims Rejection Clearing House Rejections Inappropriate Scheduling EOB Posting How 2 Manage Your Revenue Cycle Effectively?

Technological Tools 2 boost revenue cycle of group practices in 2016 Productivity Tracker Work Flow Organizer Real-time Claim Checker Clearing-House Tracker Collaborative Intercom

Let’s boost your group practice’s revenue cycle with these five technological tools… Every group practice is well versed with the stream of technology that their revenue cycle revolves around with. As changes are made in the healthcare system, it is evident that the similar changes occur even in the hospitals revenue cycle management too. Keeping pace with these changes ultimately requires that the group practices streamline their process and make sure that their revenue cycle is proactive with technology. Every revenue cycle is a showcase of a business’s financial health.

This productivity system should be an embodiment of practice revenue, visits, patient contact hours, and panel size. Productivity Tracker Physicians get paid based on their productivity Practice managers can introduce a relative value unit based system to measure and provide compensation plan and maximize productivity. Every group practice functions under the axiom that the physicians are the productive providers for the group’s financial success. #1

Live claim status Installation of tools to track a real time claim status can help claims from being unseen and rejected in the case of group practices. This technology would help the practice and the physician to view a claim status in a secured manner and take measures to avoid rejections View claims intimation, track claim status in real-time, and also access your claims history in digital format on the move. #2

Work Flow Organizer: Every physician’s schedule should be monitored with a tracker that showcases the number of patients the physician has viewed and his contribution to the month’s productivity. A query system would help the practice manager reintegrate and structuralise the work flow in a chaotic group practice. Helps the practice manager to have a clear knowledge of the physician’s appointments and produces an organised workflow. #3

Clearing-House Tracker This form of technology integrates with any practice management system to securely view the status of the claim in the clearing house and the transfer information, instead of putting reimbursement at risk. Helps Increase claim processing efficiency, manage time efficiently, ensure claims are submitted to the correct payer and confirm eligibility prior to the office visit. #4 Rejected Addressed

#5 Collaborative Intercom When concerned with a group practice, communicating in a secured manner is the need of the hour. There are situations, when professionals are on a different system and each system stands aloof, is indeed a vexing problem. The evolution from a fee-for-service model to a value-based customer centred approach was the intuition for a collaborative technology. With the advancement in technology a platform is created to help providers and billers, communicate securely.

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Intelligent Real-Time Solution For Precise Revenue Cycle

A group practice requires an integrated system that not only connects the EHR with the RCM system but also enhances the operational capabilities of the revenue cycle. This helps to streamline the revenue cycle for greater insights into treatments, costs and outcomes. Every financial transaction is always a bridge from volume to value.

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