In revenue cycle management, problems in the collection process can mean significant revenue losses for a hospital, health system or medical practice. Therefore, it is best to identify and fix problems early on.
Peter Angerhofer, a principal at Colburn Hill Group, an RCM operational solutions firm: Most problems will only get worse and require more time/effort/resources to fix as they progress through your collection process. For example, getting an authorization right at registration might be difficult, but asking patient financial services to get a retro-authorization — after a denial — may be impossible.
To learn more about solving common medical practice RCM problems, access this story from Becker's Hospital Review.
If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.
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