RCM tip of the day: Tailor RCM to each physician specialty

Revenue cycle management is not a one-size-fits-all process. Different specialties require different approaches.

Michael Sherling, MD, MBA, CMO, Modernizing Medicine: Business savvy physicians and physician administrators increasingly comprehend the value of utilizing revenue cycle management solutions that are as specialized as the medical practice and the EMR system they use. Focusing on RCM is a key strategy to increase revenue and improve cash flow through more efficient reimbursements and higher collections, and the detail encompassed by the specialty-specific technology, highly trained personnel and proven processes will help lead to better financial performance for the practice.

If you would like to share your RCM best practices, please email Carrie Pallardy at cpallardy@beckershealthcare.com to be featured in the "RCM tip of the day" series.

More articles on finance issues:
RCM tip of the day: Never neglect front-line documentation
RCM tip of the day: Mitigate spikes in denial rates during the ICD-10 transition
9 hospitals and health systems with strong finances

© Copyright ASC COMMUNICATIONS 2018. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months