billing process Tag Archives

Strategic Management of Deductibles, Allowables, Coinsurance, and Out-of-Pocket Maximums

Billing ProcessBy Daniel March 27, 2024

Enhancing Financial Performance in Healthcare Facilities For healthcare facility owners, navigating the complexities of financial operations is paramount to sustaining profitability while delivering quality care. A nuanced understanding of financial mechanisms such as deductibles, allowables, coinsurance, and out-of-pocket maximums is essential. Collaborating with specialized billing companies like RevWerx RCM can significantly enhance a facility’s revenue…

How Medical Billing Errors Negatively Impact a Practice

Billing Process, Healthcare RCM, In-House BillingBy Daniel December 20, 2021

Medical billing errors negatively impact healthcare practices in many ways. Some errors reflect actual illegal behavior with severe consequences. Others simply create major operations delays that damage your revenue stream and workflow. Whatever the case, RevWerx is here to help. We can help you spot errors in your billing system through an internal audit. After…

What Is Outsourced Billing and Do You Need It?

Billing Process, Healthcare RCM, In-House BillingBy Daniel November 21, 2021

Many behavioral health practices use their staff to manage in-house billing services for their clients. This may work in the short term, but adding this extra responsibility to overworked staff can give rise to unnecessary complications, errors, and delays. These additional issues add up to financial strain on the behavioral healthcare-based business. The true goal…

How to Improve the Financial Health of Your Company

Billing Process, Healthcare Consulting, Healthcare RCM, In-House BillingBy Daniel November 4, 2021

If you run a healthcare practice, remaining financially viable should be a top priority. An economically sound practice will allow you to provide your patients with the best possible care and treatment and invest in future growth. A significant contribution to the financial health of practices today is implementing revenue cycle management (RCM). Revenue cycle…

Preparing Your Healthcare Practice for a Billing Audit

Audits and Reporting, Billing Process, In-House BillingBy Daniel October 21, 2021

When a billing department has been experiencing a higher rate of insurance denials, aging claims, and delinquent payments, you can be certain that it’s time to look for new solutions for your billing department. However, when things seem to be operating smoothly and efficiently across the board, it’s difficult to notice potential issues that can…

Healthcare Revenue Cycle Management Solutions for You

Behavioral Health, Billing Process, Claims Management Services, Healthcare RCMBy Daniel October 13, 2021

For many, it feels as if healthcare revenue cycle management becomes more complicated every year. With new medical codes, regulations, and guidelines released every year, it can be challenging to catch up and stay ahead of the curve. Healthcare facilities are established to care for patients and improve the lives of the individuals in their…

Why Is Utilization Review Important in Healthcare?

Healthcare Consulting, Healthcare RCM, Treatment Coverage, UR Nurse, Utilization ReviewBy Daniel September 13, 2021

Utilization review, or the process of reviewing an episode of care, is often necessary to justify charges and payments to an insurance company and can also be valuable in determining the best course of action to care for a patient. Encouraging complete documentation and oversight is paramount to running a successful practice. The system of…

5 Things to Do Before an Internal Financial Audit

Audits and Reporting, Billing Process, Healthcare RCM, In-House BillingBy Daniel August 27, 2021

An upcoming internal financial audit can make even the most experienced provider a little bit nervous. You want to be properly prepared for it, of course, and although an outside perspective can quell those fears, it can be nerve-wracking to have someone new come to take stock of your processes. The reality, however, is that…

Benefits of Having a UR Nurse on Staff

Billing Process, Claims Management Services, Healthcare RCM, UR Nurse, Utilization ReviewBy Daniel August 7, 2021

Balancing high-quality care for your patients while still operating your organization with proper efficiency and economic oversight can be a difficult task for many. In the racetrack that the healthcare industry has become, hospitals and other healthcare practices must stay nimble to ensure that quality care and financial stability remain hand-in-hand. Utilization management in healthcare…

When Can a Client Expect Insurance Reimbursement?

Aging Collections, Claims Management Services, Healthcare RCMBy Daniel July 28, 2021

In any healthcare industry, but especially in the growing fields of substance abuse and behavioral healthcare, denied claims and delayed reimbursement could be a troublesome thorn in the side of any billing department. Sometimes, a quick fix can remedy a late payment, but dedicated aging collections management could be needed to track down payments and…

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