How to Reduce Days in A/R with Smart Denial Management Strategies

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 Timely reimbursement is the lifeblood of a financially healthy medical practice. Yet, increasing Days in Accounts Receivable (A/R) continues to be one of the most pressing revenue cycle issues for healthcare providers. One of the major culprits behind this issue? Denials. In this blog, we explore how strategic denial management not only reduces days in A/R but also improves cash flow and strengthens your bottom line. Understanding Days in A/R Days in A/R refers to the average number of days it takes for a practice to collect payments due after services have been provided. Industry benchmarks typically suggest keeping A/R days under 35. Anything higher signals inefficiencies - and likely unresolved denials. How Claim Denials Affect A/R Denied claims delay payments and increase administrative burden. Without an effective process to identify, appeal, and correct them, your A/R days will climb - and revenue will suffer. Top causes of denials include: Missing or incorrect ...
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How Streamlined Hospital Billing Can Increase Patient Satisfaction

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Patient billing is one of the major complaints that patients have when it comes to the total experience of getting medical care. If your hospital is relating patient satisfaction to the patient’s clinical experience, an important aspect is being missed out. How your patients will assess their overall quality of care will depend majorly on their billing and payment experience. The purpose of hospital billing is to bill the claims for in-patient and out-patient services provided by hospitals or healthcare organizations.

Every successful interaction your medical office will have with the patients (from the time of appointment scheduling till the bill is paid in full) will help your hospital achieve excellent patient satisfaction results.

What needs to be done?

  • Hire well-trained medical office staff
  • Create a team of certified coders and billers
  • Improve front-end processes
  • Perform workflow and productivity assessment of the in-house staff
  • Provide training and development to medical office staff
  • Enhance communication methods with the patients

Apart from low operating costs, improved policy compliance, and cash performance; streamlined medical billing services are extremely vital for ensuring patient satisfaction.

How to streamline medical billing tasks?

Considering the huge initiatives and projects towards the digitization of processes in hospitals, including revenue cycle management and electronic medical records, hospitals are outsourcing their billing and collection tasks. This is being done to ensure efficiency in these essential healthcare functions. Streamlined medical billing will not only strengthen the cash flow for hospitals but also improve patient satisfaction, vital for running the business.

To learn more about How Streamlined Hospital Billing Can Increase Patient Satisfaction, click here: https://bit.ly/3pLDobW  Contact us at info@medicalbillersandcoders.com/ 888-357-3226.

Location: United States

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