Nearly every hospital across the country is dealing with the same pain. Many workers have left, and the cost to retain or hire new has increased to a paralyzing rate. The burden that remains for the existing staff is tremendous.
Revenue cycle teams, already small in many systems, have been reduced to only a few hands. There are many tasks to accomplish within each day, week, and month to ensure that bills are accurate and that payment received is timely and complete. Often, the list is too long, which will cause an error in the claim population and ultimately rejection or short pay.
The Right Partner
In these times, your team must find the right partner and technology to assist with the tasks that are easily automated or deferred to a third party. After all, you certainly cannot afford to lose the revenue slipping through the cracks every day that these systems remain unaddressed. What to look for in the right partner? A solid partnership will feel like help and not a burden. You will need a team who knows the pain points to look for in your IT systems because they are familiar and have worked with them multiple times before. Because of this, the right partner will know where to look for potential failures, implementing audits for corrections expediently.
The Right Technology
Utilizing technology should act as an accelerator to your workflow, not a hindrance. The right technology will take minimal training and onboarding and require little ongoing maintenance. Often, software products come with endless bells and whistles (many for a nominal add-on fee) that look very appealing but serve a minor benefit in actual day-to-day. Getting The Goldilocks Principle of “not too much, not too little” is critical with a technology solution.
Make a Change at the Right Time
Coupling the right technology and partner is the magic that will keep you on your feet during these unprecedented times and even find yourself with financial gains. A partner like MedCom can
MedCom Solutions creates patented technology and state-of-the-art software to help medical service providers meet rapidly escalating and changing medical billing demands. Our Chargemaster, Pricing, and Compliance solutions have yielded hundreds of millions in net revenue for healthcare providers across the country.
Learn more about our solutions or visit our homepage and contact us today!
In the fast-paced environment of the operating room (OR), maintaining accuracy is not limited to medical procedures—it also extends to financial operations, particularly accurate billing or “charging” for procedures, supplies, ...
Revenue Cycle Management (RCM) is a critical process in the healthcare industry, especially within hospitals. It encompasses the entire financial lifecycle of a patient’s interaction with a healthcare provider, from appointment ...
In healthcare today, charges are increasing, reimbursement is tightening, and pricing has become available for the public. Charges must be simplistic and straightforward for consumers to understand. Headlines highlight patients ...
Subscribe here to receive newsletters on industry insights.
