The Top 9 RCM Trends in 2023 The year 2022 was economically challenging for hospitals, Healthcare systems, and even mid to large-sized physician offices. Additionally, the long period of hardship brought on by COVID-19, and its inflationary effects also had an influence on Healthcare providers. Also, the declining operating revenue for health systems and a…
Pre Authorization OR Prior Authorization is the process of obtaining prior approval from the payer (insurance company) before a healthcare provider provides services to a patient; also known as prior approval or pre-certification, it is the health insurer’s confirmation that a health care service, treatment plan, prescription drug, or durable medical equipment is medically necessary.…
The COVID-19 pandemic has shifted telemedicine from an anomaly and outlier to a necessity overnight, and doctors say they can’t see ever going back to their old model of care. As we experience a resurgence in Covid-19 cases, healthcare consumers are continuing to adjust their expectations for what healthcare will look like in the future.…
Accounts receivable is one of the major factors in the revenue cycle management. With almost all major economies of the world coming to a standstill due to stringent lockdown and social-distancing measures, most organizations are reeling for cash. The tremors of disruption have been felt across supply chains. Hospital administrators are doing their best to…
As the world continues to deal with the COVID-19 pandemic, telehealth is emerging as an effective and sustainable solution for precaution, prevention and treatment to stem the spread of COVID-19 and is offering an excellent way for practices across the country to care for patients. Telemedicine which is used for those with and without the…
The world population is in billions and it keeps growing. Since the pandemic, more and more people are working from home. Technologies just like the Internet of Things, edge computing, and AI are being adopted at increasingly rapid rates. It’s phenomenal to contemplate the amount of change we are all currently experiencing. On numerous levels,…
Setting up an efficient AR (accounts receivables) management strategy is an important part of any successful business. Even though there is no such company which intends to adopt weak accounts receivable policies but lack of planning or a failure to focus on any function can result in unintended consequences. Maintaining a healthy cash flow is…
For healthcare organizations with an inefficient A/R infrastructure, billing is usually delayed or are often inaccurate. This can lead to a reduced bottom line alongside worsening your patients relationship with your hospital when inefficiencies occur. Without the acceptable A/R structure, administrative issues and redundancies may exist which will have a significant impact on the efficiency…
The majority of data in the world has been generated over the last few years. As we have adopted the Internet of Things, we’re now on track to beating any and all records of data generation year-on-year. Over the time, you may have realized the importance of data and the need to govern it properly…
The global COVID 19 pandemic attack has gone far beyond thousands of infections and deaths and has affected almost all sectors. Healthcare organizations and medical billing companies being in the vanguard during this travail state are most vulnerable. The pandemic has resulted in the closure of businesses and job losses on a scale that hasn’t…
