Maximize Collections for Services Rendered
"aka Revenue Cycle"
Reading Time - 2 min
Why you should spend 2 minutes reading this:
You may be leaving +5% of your bottom line with payors
If you render services, make sure you get paid your contracted rate.
This is a very well documented need for care providers. Revenue Cycle experts are commonly employed to handle this.
The two questions are:
Are we getting paid the full contracted rate?
How quickly are we getting paid?
These questions should be reviewed with your insurance companies as a part of your annual contract management cycle.
Here are examples of charts you could share with insurances to direct your conversations w/them.
If you're looking to develop the analytic capabilities to manage your revenue cycle or have yet to complete an assessment of your revenue cycle, we can help. Fill out the form below.
High-level actions you can take based on this article:
1. Develop analytic capabilities to audit your revenue cycle
2. Update contract management processes to address revenue cycle issues
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