Inflation, higher patient deductibles, more complex regulations, and payer requirements all promise to make 2024 more challenging for the healthcare industry as a whole and medical practices in particular. Now more than ever efficient management, continuous optimization, and leveraging external expertise are needed to assure financial viability and set your practice on the path to […]
Tagged in: Revenue Cycle
Optimizing Practice Revenue in 2024
Revenue Integrity in Healthcare: Ensuring Accurate and Ethical Revenue Capture
Revenue integrity is not simply a buzzword in the healthcare industry; it is a critical component that ensures the financial sustainability and compliance of medical practices. In today’s complex healthcare landscape, maintaining revenue integrity has become increasingly challenging. However, platforms like PhyGeneSys offer healthcare providers a comprehensive solution to address these challenges and maintain revenue […]
Zero Trust Compliance in Medical Revenue Cycle Management: Securing Patient Privacy, Ensuring Legal Compliance, and Preventing Fraud
Patients entrust their healthcare providers with their most personal and sensitive information. It’s expected that medical professionals will respect and protect that trust. Violations can not only result in severe penalties for practices but also damage the vital trust that exists between patients and their healthcare providers. That’s why Zero Trust Compliance, a security model […]
A Path to Financial Excellence: Maximizing Profits Through Optimized Revenue Cycle Management
Addressing issues in your revenue cycle might initially seem overwhelming, something like a complex medical treatment plan, but rest assured, the journey to fiscal excellence follows a well-defined strategy proven to yield exceptional outcomes. The percentage of revenue and efficiency gained varies, depending on existing conditions (just how sick is the patient?) but the objective […]
A New Best Practice: How RPA Will Revolutionize Your Revenue Cycle Management
If you follow technology advances in healthcare administration, you’ve probably read about Robotic Process Automation, or RPA, and how it’s revolutionizing revenue cycle management. Because RPA is viewed as ‘new,’ it’s often marketed as a separate technology, an add-on so to speak. However, a few billing and management solutions, such as PhyGeneSys, have always offered […]
You Can’t Manage What You Don’t Measure
Eliminate Coding Errors, Measure Claim Success Rate, Collection Time, and Cash Flow. Evidence-based medicine from clinical research is fairly standard in the quality healthcare. Yet not everyone takes the time of effort to apply the same systemic approach when managing medical revenue cycles. Implementing and tracking Key Performance Indicators (KPIs) will help you understand your […]
