3. Analytics to Track RCM KPIs

Monitoring RCM KPIs can help you find areas where your firm is falling short of industry norms and provide a strategic approach of how your organization is performing. You could monitor:

• Rate of clean claims.

• Days in A/R.

• Cash receipts as a proportion of net patient service income.

• Rate of claim denial.

• Fee for collection. https://infohubconsultancy.com

4. Staff Training

Using best practices to reduce denials, increase reimbursements, and establish an efficient billing system requires a well-trained workforce. To guarantee that pressing financial queries are resolved swiftly and accurately, it is necessary to invest in enough employee training on healthcare revenue cycle best practices.

5. Denial Management

The 99% first pass approval rate that suppliers are able to achieve thanks to revenue cycle management services is another advantage. Your claims will be coded appropriately the first time thanks to claims monitoring and denial management.