Outsourcing Revenue Cycle Management:
Is It Right for Your Practice?
If your healthcare practice is struggling with high accounts receivable (AR) days and decreased cashflow, outsourced AR management could be the solution. Many practices see their revenue cycle efficiency plummet simply because AR management is not their specialty. As days in AR rise, collectible revenue is left on the table.
Outsourcing your medical billing and AR management allows dedicated experts to optimize your revenue cycle protocols. As specialists in the field, outsourced teams utilize denial coding analysis, detailed reporting, and persistent claim follow up to transform disorganized AR into a profit center. Bringing order to the chaos of AR improves cashflow and reduces days in AR.
Here’s one actionable tip you can take to improve AR efficiency without outsourcing:
Conduct an audit of denied claims to uncover trends in rejection reasons. Identify frequently denied claims that may actually be payable and appeal those first to recoup lost revenue. Common denial reasons like duplicate claims or expired authorization may have quick fixes. A targeted audit identifies low hanging fruit for appealing and reworking claims.
Outsourcing
While auditing and appealing denials can help, outsourced AR management executes these protocols on an ongoing basis. We combine expert analysis with persistent, metrics-driven follow up to maximize your revenue cycle performance. Don’t let AR chaos cut into your bottom line - with outsourced support your accounts receivable will transform from a liability into an efficient profit center.
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