At the heart of your practice is your desire to heal. But a medical practice is also a business that supports you and those who work for you. So it’s important to ensure not only high-quality care for your patients, but a solid financial foundation for your practice as well.
A key to that foundation is your revenue cycle – the administrative and clinical functions that work together to bill and collect the revenue generated by the services you provide to your patients. It involves setting clear payment expectations for your patients, coding procedures accurately, account follow-up, payment posting and more. If this complex combination of processes isn’t streamlined, it can result in denied claims and uncollected patient payments.
So how do you stop the bleeding? By reviewing your processes, finding the gaps and inefficiencies…and fixing them.