Common Pitfalls in Revenue Cycle Management and How to Avoid Them
Revenue Cycle Management (RCM) is the backbone of healthcare finance, encompassing every step spanning from patient registration to final payment. However, many organizations face recurring pitfalls that can drain revenue, frustrate staff, and diminish patient satisfaction. Here’s a look at the most common RCM pitfalls and actionable strategies to avoid them. Incomplete or Inaccurate Patient Information One of the most frequent RCM errors is collecting incomplete or incorrect patient data during registration. Even minor mistakes like a misspelled name or wrong insurance ID can lead to claim denials and payment delays. How to Avoid: Train front-desk staff to verify all…
Implementing a Successful Outpatient Clinical Documentation Integrity Program: Best Practices
Outpatient Clinical Documentation Integrity (OP CDI) programs are essential for healthcare organizations aiming to improve documentation accuracy, ensure compliance, reduce denials, and optimize reimbursement. As care shifts to outpatient settings, the need for robust CDI programs outside the hospital grows. Here are seven key steps and best practices for implementing a successful outpatient CDI program, supported by industry guidance and expert recommendations. 1. Define Clear Goals and Scope Set specific objectives for your CDI program, such as improving risk adjustment scores, reducing claim denials, enhancing quality measures (e.g., MIPS/MACRA), and ensuring accurate reimbursement. Also, determine the scope of the program.…
Hiring Contractors in Non-Clinical Healthcare: A Strategic Advantage
Healthcare organizations are increasingly turning to contractors for non-clinical roles to address workforce challenges and adapt to evolving operational demands. Contract workers offer flexibility, specialized skills, and cost-effective solutions, making them a valuable asset in the healthcare industry. Here are the advantages of hiring contractors for non-clinical healthcare roles, positions that benefit from contract employees, and when you should hire. Advantages of Hiring Contractors in Non-Clinical Healthcare Contracting professionals for non-clinical healthcare roles provides several benefits for organizations 1. Flexibility and Scalability Contract workers allow healthcare organizations to scale their workforce based on project needs or seasonal demands. For instance,…
