Why Must Internal Medicine Leaders Shift from Codes to Cash Flow?

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Internal medicine leaders must shift from codes to cash flow because accurate coding alone does not guarantee revenue, but optimized revenue cycle management does. Many practices focus heavily on CPT and ICD-10 accuracy, yet still struggle with delayed payments, rising denials, and inconsistent collections. In today’s reimbursement environment, success depends not only on coding precision but also on strong  cash-flow management  and strategic  revenue-cycle  management (RCM) . Coding is operational. Cash flow is strategic. Why Is Focusing Only on Coding No Longer Enough? Accurate coding is essential, but it represents only one stage of the billing process. Even perfectly coded claims can face: Prior authorization issues Eligibility verification errors Delayed payer adjudication Underpayments Appeals backlog Without strong oversight of the full internal medicine revenue cycle , practices leave money uncollected. What Does a Cash Flow–Focused ...
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Why does your Staff Fail to Collect Revenue from Patients?

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After 25 years of training medical practice staff how to successfully ask patients to pay at the point of service, there are many common excuses that we hear when staff members fail to collect Revenue from Patients. As per the Consumer Financial Protection Bureau (CFPB) report released in December 2014, 43 million citizens have overdue medical debt and a staggering 52 % of all debt on credit reports is from medical billing. The findings of the study clearly indicate that patient collection is becoming a  serious threat to the profitability of the provider’s office. Factors like ongoing economic instability combined with the implementation of the Affordable Health Care Act and the shift in payment models to be consumer-direct with high deductibles have all consolidated into greater difficulties for the provider’s office at revenue collection from patients.

Reasons Your Staff Fails to Collect Revenue from Patients

To elaborate, here are a few reasons why provider’s offices fail, and steps the office can take to increase collections from patients: 

1. Vague financial policy and procedures

Medical billing and revenue cycle can be complex and confusing concepts. The lack of crystal clear written policies and procedures at the disposal of the provider’s staff only aggravates the problem. Ideally speaking, the policies should clearly outline what the payers consider acceptable and information in terms of patient payment timing and extended payment plans.

The staff should be educated about the difference in payment responsibilities when the patient is not insured, out of network, and alternatively covered by a contracted plan; something the staff of medical revenue billing services is well-versed with.

2. Sharp rise in the volume of patients

Approximately, 40% of adults, who were earlier not covered by payers due to factors like age, gender, health history, etc., will now obtain coverage, thanks to the new Affordable Health Care Act which requires insurance companies to cover such cases regardless of pre-existing conditions. As a result, a substantial rise in health insurance enrollments is impending.

Quantum could become an issue and if that happens, quality would be at an obvious risk. The new rules also provide for increased expenses and thus more confusion. The trend is bound to result in more medical billing errors and the necessity to re-submit claims. Indeed, the provider’s staff is bound to find itself at the end of its wits if not trained to be well-acquainted with new procedures. Read Continue: Why Does Your Staff Fail to Collect Revenue from Patients?

Location: United States

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