Today maintaining an efficient revenue cycle is essential to sustain your business. A seamless revenue cycle management processand good finance in fact is the key to helping the healthcare provider with physician compensation, keep up with overhead and investment in advanced technology for better patient care management.
Running a seamless revenue cycle can be tough at times with collecting insurance, procedure data to prepare timely claims submission, continuous follow-up etc; a lot of work is involved.
However, challenges arise with an inept revenue cycle when the collection drops and an increase in the accounts receivable (AR) days are observed.
How to improve your collection efficiency and reduce your hospital accounts receivable days:
Timely and accurate documentation for billing andcoding can help in reducing your AR days. Experienced billers and certified coders managing your both front and back end work improve your overall collection process.
In fact, it further reduces the risk of bad debtexposure and keeps your AR days under control. Furthermore, proper claims help you avoid losing outon revenue.
The Sunknowledge support:
From taking care of both front and back end work,Sunknowledge delivers a state-of-the-art solution to many leading names in theindustry. Our experts not only reduce your operational cost but also help in reducing billing errors with a complete understanding of your billing needs.
With dedicated resources, we have our ACCOUNTS RECEIVABLE team addressing the area that requires attention like untimelyclaims submission and follow up on claims.
In short, we pay complete and equal attention toevery cash amount received respective of its size or sources. With our constantchecks and accuracy rate of 99.9%, you can be rest assured that every penny you are entitled to will be claimed and recovered by us in the shortest time possible.
We are the RCM solution with excellent industry references ensuring the highest first pass collection of 97% and highest productivity metrics.
So call us right now if you are looking to improve your hospital accounts receivable days, or when your AR ages to the point of no return; we are here to help.
