In the healthcare sector, especially for providers serving underserved populations, revenue is more than just numbers on a balance sheet. It represents the ability to provide quality care and resources to those who need it most. This is where retroactive Medicaid coverage comes into play as a vital mechanism for unlocking hidden revenue that can significantly improve your operations. For federally-qualified health centers (FQHCs), community health centers, and behavioral health organizations, understanding the potential of this often-overlooked aspect of Medicaid can set the stage for growth and sustainability.
Retroactive Medicaid Coverage: Your Key to Hidden Revenue
Nov 12, 2024 5:05:31 PM / by Altruis posted in Retroactive Medicaid Coverage
Best Practices in Medical Coding to Maximize FQHC Revenue
Oct 21, 2024 12:30:00 PM / by Altruis posted in medical coding
When it comes to enhancing the revenue of federally qualified health centers (FQHCs), efficient and accurate documentation is essential. The correct assignment of codes can significantly influence reimbursements while also ensuring compliance with state and federal regulations. By following certain best practices in the medical coding process, organizations can optimize their financial performance and support the delivery of quality care. Below are key strategies for improving coding practices to maximize revenue for FQHCs.
5 Keys to More Sustainable Financial Performance in Healthcare
Oct 10, 2024 12:00:00 PM / by Altruis posted in revenue cycle management software
In the healthcare industry, achieving sustainable financial performance is paramount, especially for Federally Qualified Health Centers (FQHCs) that serve underserved communities. Utilizing Revenue Cycle Management (RCM) software can support organizations in accomplishing this goal through strategic initiatives. This blog discusses five key strategies that healthcare organizations should consider when seeking to enhance their financial sustainability. Each key reflects an area where RCM software can facilitate improved operational performance and resource allocation.
FQHC Revenue Cycle Management: Prevent Medicare Billing Denials
Sep 25, 2024 11:02:37 AM / by Altruis posted in fqhc revenue cycle management
Managing the revenue cycle is a fundamental process for Federally Qualified Health Centers (FQHCs), particularly when it comes to billing Medicare. High rates of claims denials can lead to significant revenue losses, disrupt cash flow, and ultimately hinder the ability of FQHCs to provide essential services to their communities. Here we share effective strategies to mitigate these challenges and improve the overall billing process for FQHC revenue cycle management (RCM).
Why Custom Revenue Cycle Management is Key for FQHCs
Sep 12, 2024 12:00:00 PM / by Altruis posted in Revenue Cycle Management
A well-functioning revenue cycle is essential for Federally Qualified Health Centers (FQHCs) to effectively manage their finances, maximize revenue, and ensure the sustainability of their operations. Revenue cycle management (RCM) involves the process of tracking patient care from registration and appointment scheduling to the final payment of services rendered.
It includes capturing patient information accurately, verifying insurance coverage, coding services provided, submitting claims to payers, and following up on unpaid claims. Keep reading to learn more about how FQHCs can benefit from professional RCM services.