Healthcare is complicated, with challenges you must address with your medical practice revenue cycle. With 320 million Americans and more than $3 trillion spent every year on healthcare, there are lots of moving parts to consider. As you work to optimize your medical practice's revenue cycle management, you first need to understand the functions that directly impact your medical billing. What’s the process, and how can you improve it?
No matter the size of your organization, it is important to understand how the medical practice revenue cycle is managed and how the practice management system you have supports it. Then, TempDev can work with you to optimize that revenue cycle to improve your results. The best place to start is at the very beginning, so let’s start with the front office.
Most successful organizations have already had communication with patients even before they enter your front office, but many of the tasks and processes start here. At TempDev, we can work with you to make appointment scheduling easy with NextGen Practice Management workflow improvements. This initial phase sets the tone for the entire relationship with friendly customer service, patient collections, and a focus on insurance verification.
If a patient’s information is captured or entered incorrectly in these first few steps, it affects the rest of your workflow and revenue process. With training and oversight, your front office team is your front line for scheduling appointments, answering questions, collecting copays, and streamlining the entire process for your medical practice and revenue cycle. TempDev offers training and helps with workflow redesign.
Your team should focus on optimizing the workflow of your clinic. It’s not just about processing each patient quickly. You need to document each patient encounter, process the doctor’s notes, and submit the service and treatment details for medical billing. All the while, part of your job is to make sure the patient receives all the answers, level of care and service, as well as courteous respect.
While this can be a convoluted process, you must process the appointment as accurately as possible. Any errors you make will likely result in claim denials or incorrect billing, which could lead to discrepancies in reimbursement. Beyond the potential errors and oversights in billing, you must also consider the health and safety of your patients. You can’t make mistakes. We can help you with analyzing and optimizing your appointments with our NextGen’s EPM Reports.
If your medical practice revenue cycle functions have all been successful up to this point, you’re probably in a good position to submit your claim to your patient’s insurance provider. Before you send the claim, though, you still need to check your CPT and ICD codes. Your goal is to avoid mismatches or inconsistencies that could kick the claim back. This process takes time and attention to make sure it’s correct. That’s why TempDev offers insight into outsourcing so you can find the best solution for your organization. Already nearly 50% of healthcare organizations collaborate with external entities.
As part of your medical billing process, you’re also verifying your patient’s insurance-provider details as well as health information and demographics. You not only need to prepare the claim correctly, but you must check, verify, and correct any errors as an essential part of the process. Even if it seems like a hassle, your time claim scrubbing on the front end will save you more time and frustration in the long run. At TempDev, we’ve compiled medical billing best practices that should help ensure your financial health and viability long into the future.
How TempDev Can Help with Your Medical Practice and Revenue Cycle Management?
TempDev’s team of consultants and trainers works with you to support your medical practice and revenue cycle needs. With targeted training and customized solutions, we offer the templates, automation, revenue cycle management, and dashboard design you need. We help you analyze your processes, work on ways to optimize your current workflow, and streamline your medical billing system. With TempDev’s help, you should be better prepared to identify, manage, and collect revenue.
With so many complications involved in the functions of your medical practice and revenue cycle, you need to consult with experts who understand what you’re going through. You also need a team of consultants who can support your need for better efficiency and productivity, which should help ensure patient satisfaction and a happier team. Our TempDev team can offer knowledge and expertise that will help you streamline your processes and ensure your success.
Contact us here or by calling us at 888.TEMP.DEV to schedule a consultation and get the help you need with your medical practice revenue cycle management.
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