Tips to improve your RCM (Revenue Cycle Management)

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Tips to improve your RCM (Revenue Cycle
Management) 
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Introduction

• Revenue cycle management is most important
  process in the healthcare industry.
• Decline in reimbursement rates impact the
  financial well being of the hospital or practice.

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SYNERGIZE FRONT AND BACK-END OPERATIONS

• Healthcare revenue cycle management divided into
  front end and back end operations.
• Front end operation includes following processes
• Registering new patients
• Collecting information
• Confirming eligibility
• Back-end operation includes
• Managing claims and denials
• Medical billing and collections.

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Key Performance Indicator for Revenue Cycle
Management

• Days in accounts receivable
• Claim denial rate
• Collection percentage (cash collection/total
  service revenue)
• Denial write-off percentage
• By tracking the KPI, revenue gets improved.

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Supporting Technology to Optimize Workflow

• By implementing Supporting Technology to Optimize
  Workflow, Health Systems can streamline revenue
  cycle functions. Such as
• Clean claim rate
• Denials rate
• These are maximize the reimbursement.

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About MGSI

• MGSI is a leading revenue cycle management
  company in Florida US. We provide following
  services such as
• Cardiology medical billing
• Radiology medical billing
• Anesthesia medical billing
• Denial management
• AR follow up etc.

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