Author: Medical Revenue Associates Inc

How the Coronavirus is Impacting Revenue Cycle Management

As the coronavirus spreads across the country, hospitals and medical offices must manage the influx of patients to care for and tests to administer. This puts a tremendous strain on the day-to-day management of a healthcare facility, including those associated with revenue cycle management. While caring for patients is our number one priority, the financial… Read more »

Understanding the Patient Driven Payment Model

On October 1, 2019, Medicare shifted from a Resources Utilization Groups (RUGs) model to a new reimbursement model called the Patient Driven Payment Model (PDPM). This change has and will largely affect skilled nursing facilities (SNFs) such as physical therapists, speech pathologists, and audiologists. Considering how recent this change is, however, many physicians do not… Read more »

How Technology Can Improve Revenue Cycle Management

Revenue cycle management, also known as accounts receivable, is an important part of every medical practice. Good RCM can help you treat patients more effectively and keep your practice financially stable. In the digital age, technology is a key tool in improving your RCM. Here’s how: Reduce the risk of human error Human beings are… Read more »

The Most Common Medical Credentialing Mistakes

We’ve discussed how important getting your physicians credentialed can be. Not only does it allow physicians to be “in-network,” but it can also make sure that a physician is qualified to treat patients. However, the medical credentialing process can be complicated, and there are many mistakes that health care providers can make throughout it. Relying… Read more »

The Dos and Don’ts of Medical Credentialing

Medical credentialing is a necessary, but complicated, process. After all, ensuring the qualifications of a physician is easier said than done. While medical credentialing will never be easy, there are ways to make it less stressful on you and your physicians. Here are some things you should do, and some things you shouldn’t do, when… Read more »

4 Tips to Improve Your Revenue Cycle Management

Having good revenue cycle management, also known as accounts receivable management, is necessary for any medical practice that wants to keep treating patients. Unfortunately, many practices do not manage their finances effectively, resulting in outstanding payments and financial strain. By adopting good RCM strategies, however, you’ll be able to put your medical practice back on… Read more »

How Rural Medical Practices Can Overcome Revenue Cycle Challenges

Every medical practice has their own revenue cycle challenges. Rural medical practices, however, often have to endure a unique set of challenges due to their socioeconomic situation. These challenges can lead to rural healthcare facilities losing money and even shutting their doors entirely. In areas where the next doctor is often miles away, it’s important… Read more »

Individual vs. Group Credentialing

Medical credentialing ensures that a physician both has the proper education to perform their services and is “in-network” with health insurance companies. As such, the credentialing process involves collecting and evaluating all available data on a physician in order to ensure their credentials. While you can credential individuals, you can also credential people as a… Read more »

Medical Billing Issues That Are Impacting Your Practice

Every practice needs to have a medical billing system set up in order to properly receive payments in a timely manner. Many struggle with problems regarding their medical billing procedures. Here we identify some of the common medical billing issues practices. Failure to notify patients of financial obligations As we’ve discussed in previous blog posts,… Read more »

The Pros and Cons of Credit Card on File

With patients paying more and more of their medical costs, many physicians across the country are looking for ways to ensure patients pay their bills in a timely manner. Keeping a patient’s credit card on file is one of these ways. There are several advantages to this form of payment, but also some disadvantages that… Read more »