When it comes to billing, does it often feel like your medical practice is back in the dark ages? You do all the hard work of seeing patients and providing optimal state-of-the-art medical care, but then end up tearing your hair out trying to get paid a fair fee for your services in a reasonable period of time. If you try to manage billing on an in-house basis, chances are you run up against most of these obstacles on a daily basis:
As a healthcare provider, your first priority is to provide outstanding patient care. That is the main reason you went into the medical field – to help others feel better. But, underlying that altruistic goal is the business side of your personality. With your education and experience, you are certainly entitled to be paid fairly for the services you provide. You also have to think about the costs involved in running a medical practice – the building, staff, insurance, and so much more – which means you have to stay on top of your medical billing procedures.
You have probably heard the old expression, “the more things change, the more they stay the same” over and over again throughout your life. Although it is certainly true in most walks of life, it can be especially prophetic in the medical community.
Achieving next-level physician revenue cycle performance will require physician practices to invest in processes and technologies that support revenue integrity and increased patient financial engagement. Four strategies are key.
Achieving next-level physician revenue cycle performance will require physician practices to invest in processes and technologies that support revenue integrity and increased patient financial engagement. Five strategies are key.