Successful medical practices must stay ahead of constant changes in the U.S. healthcare system. This includes new cuts to Medicare reimbursement rates putting your revenue at risk. Typically, these cuts are made through the physician fee schedule (PFS) and the hospital outpatient prospective payment system (OPPS).
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Medicaid payments are a vital source of revenue for a community health clinic. As a federally qualified health center (FQHC), your practice relies on receiving a steady flow of Medicaid reimbursements.
Taking control of your revenue cycle could be the best thing you ever do for your healthcare practice. With the right revenue cycle management strategies in place, a health clinic can become more profitable while maintaining its focus on patient care.
This article defines billing and revenue cycle management and outlines the best practices for creating a healthier revenue cycle.
Credentialing is an essential part of any successful healthcare practice. It prevents valuable revenue loss for your practice and protects your patients by ensuring all providers and facilities are contracted to provide services with your insurance plans.
What’s your health center’s net collection rate? Prompt collections keep your practice thriving. Every payment or reimbursement helps cover your costs to ensure you can keep your doors open another day.