RCM tip of the day: Cut number of days in accounts receivable

Lowering the number of days a bill is in accounts receivable is one way to reduce the cost to collect on the bill, said Dr. Dar Griffeth, senior vice president of revenue cycle management services at Pulse Systems.

Days in accounts receivable measures the amount of time it takes for hospitals to receive reimbursement from claims.

To lower this measure, Dr. Griffeth recommended that hospitals, "post charges daily. Follow up with payers each time you submit a claim. Work denials daily, and automate payment posting."

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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