Tips to improve your RCM (Revenue Cycle Management)

Tips to improve your RCM (Revenue Cycle Management)Â

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Introduction • Revenue cycle management is most important process in the healthcare industry. • Decline in reimbursement rates impact the financial well being of the hospital or practice.

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SYNERGIZE FRONT AND BACK-END OPERATIONS • Healthcare revenue cycle management divided into front end and back end operations.

Front end operation includes following processes • Registering new patients • Collecting information • Confirming eligibility Back-end operation includes • Managing claims and denials • Medical billing and collections. www.mgsionline.com

Key Performance Indicator for Revenue Cycle Management • Days in accounts receivable • Claim denial rate • Collection percentage (cash collection/total service revenue) • Denial write-off percentage By tracking the KPI, revenue gets improved.

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Supporting Technology to Optimize Workflow • By implementing Supporting Technology to Optimize Workflow, Health Systems can streamline revenue cycle functions. Such as ▫ Clean claim rate ▫ Denials rate

These are maximize the reimbursement.

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About MGSI • MGSI is a leading revenue cycle management company in Florida US. We provide following services such as • Cardiology medical billing • Radiology medical billing • Anesthesia medical billing • Denial management • AR follow up etc. www.mgsionline.com

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