From registration to claim submission to patient collections, revenue cycle management (RCM) encompasses a wide array of processes and services that impact nearly every dimension of healthcare. Several challenges — some ongoing, others new — exist in the RCM space. These problems include: Workforce shortages Lack of patient-centered processes Inefficient workflows causing delayed payments and …
More: Finance & Revenue
04
Aug
Aug
Editor’s Note: This post is adapted from The Break Room podcast episode focused on trends in revenue cycle management and tips to help independent practices optimize their revenue integrity. Listen to the full episode below. A recent report valued the revenue cycle management (RCM) industry at $126.1 billion and forecasted a more than 10-percent growth …
29
Apr
Apr
Learn how we can optimize practices’ revenue.
24
May
May
For the third consecutive year, Privia Medical Group received the 2018 MAP Award for High Performance in Revenue Cycle, sponsored by the Healthcare Financial Management Association (HFMA). The award celebrates industry leaders that utilize revenue-cycle strategies that measure objectively, apply evidence-based solutions, and perform to the highest standards of both financial results and patient satisfaction. …
26
Apr
Apr
As a busy healthcare provider, you have a lot on your mind. You work long hours. You strive to make the right decisions for your patients. You monitor government regulations and commercial payer shifts. You manage office staff. You try to maintain a reasonable work-life balance. And somewhere in all this, you also need to …
30
Jan
Jan
How can your practice maintain a steady stream of cash month-over-month? In this month’s Peak Practice Performance blog series, we will discuss several key strategies that will assist you in collecting every dollar and saving a penny or two, by investigating how the five areas of performance impact your practice metrics. Last month, we discussed …
25
Jan
Jan
By now, you’ve heard about the transition from volume to value in healthcare, but what does it really mean? In this blog, I’ll attempt to explain it in layman’s terms. Value-based Care and the Connection with Population Health Simply put, “value” is defined as better quality for lower cost; an easy concept to grasp, but …
21
Dec
Dec
Growing up the son of grocers taught me a lot about running a small business. In my family’s Washington, D.C. mom-and-pop convenience store, generating revenue was usually a straightforward endeavor. I started stocking shelves at the age of five. By my late teens, I was managing the store. I quickly learned that if the distributor …
07
Dec
Dec
Has your cash flow weakened over the last few quarters? As we approach the holidays and the end of the year, many practices notice a decline in revenues. Even if your cash flows are good, you may be wondering how your practice can maintain a steady stream of cash month over month. In this Peak Practice Performance …
21
Nov
Nov
Fee-for-service initiated a healthcare system that led to skyrocketing prices, which eventually undercut the ultimate goal of medicine: providing patients with high quality care at the best cost, for the optimal patient outcome. Physicians and payers often feel at odds in their sometimes competing methods of arriving at the same goal of patient well-being. These …
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