All our latest thinking on medical billing, medical coding, accounts receivable and denial management processes, robotic process automation, artificial intelligence, machine learning and more..
Increasing claim write-offs and decreasing success in denial appeals amplify the already sad state of the financials of hospitals and healthcare systems caused by the current labor shortage and trend of declining reimbursements. Shouldn't hospitals be focusing on denial prevention rather than denial recovery? Here are six tips to help you get ahead in the denials game and recover more revenue.
Declining reimbursements, rising consumerism, demand for improved patient experience, transition to value-based care, COVID-19's impact, manpower shortage and other factors distract healthcare providers from their core goal of delivering quality healthcare to their patients. They must respond with innovative approaches that could depend largely on finding the right outsourcing partner for the scalability and domain expertise the business needs.
Outsourcing is often associated with the idea of letting go. And letting go is about uncertainty and anxiety about results. By choosing the right partner, you can free up the time and find the investments for the strategic initiatives to propel your organization forward. In our experience, outsourcing can help you in three critical areas - Scalability, Automation, and transparency
You are considering making significant investments in revenue cycle process automation. However, almost 75% of the Bots fail when underlying processes change. Future-proof Robotic process automation requires careful engineering of the automation solutions. Micro-bots and Micro-services, the key elements of Access Healthcare's enterprise automation platform, echo, ensure that your automation solution is future-proof and helps you get impressive returns from your automation investments.
The health system revenue cycle is a multi-functional environment with a lot of nuance and many steps - it is no wonder things can become very complicated! There is room for error at every stage of the cycle. The opportunity for error begins even before the patient walks into the waiting room and doesn’t end until after the claim gets paid and settled.
In this article, we talk about tangible actions you can take today to make your revenue cycle even more exceptional.
As with any other strategic initiative, there is an expectation of a good return on revenue cycle process automation investments. Despite the undeniable benefits of automation, automating the revenue cycle in a complex organization is no small undertaking. Organizational challenges can slow down or impede progress altogether. You might not have the team you need or the budget. In any case, automation is becoming a necessity that all organizations will need to implement soon. We developed a guide to help you through the challenges and pave the way for successful revenue cycle automation.
The buzz around process automation in the revenue cycle industry is gaining rapid attention. Third-party automation solutions and revenue cycle services providers aggressively make claims about how their products provide pervasive automation solutions. Before you make a significant investment in automation, recognize that revenue cycle process automation needs to be about achieving strategic business outcomes and less about applying technology for technology's sake.
