Claim denial rates are still a major concern for accounts receivable management in 2022. For example, denial rates for marketplace payers have reached rates as high as 80% according to the Kaiser Family Foundation [1]. But this is only the beginning. COVID has put upward pressure on denial rates for a while now. All of this means that revenue cycle leaders should be taking a fresh look at their denial management practices, not only considering accounts receivable management services but also seeing this as an opportunity to investigate new and more effective approaches to denial management.
2022 Hospital Revenue Cycle Outsourcing Update
With the challenges hospital leaders are facing today, hospital revenue cycle outsourcing should always be on the table. This is because of the benefits it offers in terms of flexibility and helping you stay ahead of challenges in hospital billing services. But these dynamics change quickly. This is why we want to present you with updates for 2022 and what you should understand about outsourcing hospital billing services today.
How to Reduce Days in A/R
Days in accounts receivable (A/R) is a critical number for providers to track. As healthcare revenue cycle challenges become more complex, you will need to monitor this KPI to stay competitive, keep up with consumerization trends, and support your overall financial goals. As you make this consideration, you might consider working with some of the top medical billing companies in the USA, but first, we want to help you gain some critical insights.
4 Tips for Physician Billing Services as COVID Evolves
While COVID-19 “changed everything”, the change hasn’t stopped. Physicians will find that, even as things are settling down, they will need to adapt — adjusting how they approach their billing to stay flexible and on top of shifts that impact their groups and practices.
Never Outsource Medical Billing? Here’s the Real Answer
Many experts will say that you should never outsource medical billing. In years past, they might have had a case. But healthcare has changed in amazing ways in the last few years.