Thursday, September 7, 2017

What is Revenue Cycle Management Transparency’s Role in Keeping Healthcare Facilities Afloat?

While it’s true that patients are the lifeblood of any healthcare provider, it’s the accounts receivables that keep the proverbial chimneys burning. After all, if billings are not collected on time, your clinic or hospital may very well find itself short on cashflow. This, in turn, can have catastrophic effects on both your bottom line and your ability to service the infirm.

The Possible Problems

Of course, there many reasons why medical facilities can’t bill accounts receivables in a timely manner. The first and most common reason is that patients simply do not have the financial capacity to pay their medical bills. Such a problem can be alleviated by engaging the services of an eligibility expert, which can help your patients identify what government-sponsored programs they qualify under so that the government—and not third-party payers—will reimburse you. Read more from this blog:

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