Stop Risking Your Revenue
Are You Failing to Spot the Top Risks to Your Revenue?
With payer reimbursements continuing to decline, providers and medical practice managers know that they can’t afford to let revenue slip through the cracks. Yet many are losing money without even realizing it, simply because they aren’t noticing areas where they’re underperforming, making mistakes, or operating inefficiently.
Starting the new year off on the right foot means mitigating risks appropriately… and “risk management” is just as critical to your revenue cycle as it is to patient interactions. Review your performance in each of these risk factor-laden areas of your revenue cycle.
Negotiating Payer Fee Schedules? Here's 5 Tips that will Help!
As your practice’s year comes to a close, now is the time to review your financial performance and consider the factors that impacted your revenue – including your payer contracts.
If your relationships with your payers are longstanding, it’s likely been a while since you’ve revisited (and renegotiated) your payer fee schedules. But if you aren’t regularly making sure your payment rates are up to par, you may be underpaid.
The key is to work with your medical billing service or staff to collect and analyze payer payment data, then use it as a bargaining tool with the insurance companies. Here are our top tips to help you make sure you get paid every dollar you deserve.