The Vital Link Between Patient Engagement and Medical Billing Success 

An international study on patients revealed that countries with higher levels of patient engagement demonstrate lower rates of medical errors and higher overall patient satisfaction compared to those with lower engagement levels. This underscores the critical importance of patient engagement. Not only does it enhance clinical outcomes and satisfaction, it also bolsters the financial stability […]

Measuring Key Performance Indicators (KPIs) for Successful RCM

Efficient Revenue Cycle Management (RCM) is paramount for healthcare organizations striving to optimize their financial performance. Healthcare executives believe that effective revenue cycle management is “very important” or “extremely important” for their organization’s financial health. This is why according to an HFMA and Eliciting Insights report, 40% of healthcare providers prioritize investing in backend RCM […]

Medical Coding in 2024: Challenges, Innovations, and Lessons Learned

Medical coding is a critical component of the healthcare industry, serving as the bridge between patient care and financial reimbursement. As we step into the year 2024, the landscape of medical coding continues to evolve, with the medical coding market forecasted to be valued at more than 29 million USD by 2027. Healthcare professionals will […]

The Future of Medical Billing: Trends and Innovations 

According to research published by the Harbert College of Business, a hospital increased its annual net revenue by $1.73 million on average implementing one additional clinical IT unit and one additional business IT unit. Successful IT implementations have been proven to bring substantial net revenue growth for healthcare providers, and their success involves the adoption of […]

Financial Success in Healthcare: RCM Strategies that Actually Work 

In today’s rapidly evolving healthcare landscape, financial success is a top priority for hospitals, medical practices, and healthcare providers of all sizes. Healthcare organizations need financial resources to cover operating costs, invest in technology and infrastructure, and attract and retain skilled staff. However, the complexities of billing, insurance reimbursement, and regulatory compliance can be overwhelming. […]

Outsourcing a Medical Collections Specialist Can Increase Your Collections by 120%

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One of the critical aspects of maintaining financial health is effective medical collections. According to CFPB research, 58% of people’s credit reports were medical debts. This means that people rampantly have their medical debts higher than student loans, utility, and credit cards. With people becoming more health-conscious in 2024, you can expect an increase in […]

These 5 Mistakes Will Sink Your Healthcare Business in 2024

Ongoing staffing problems, reduced patient volumes, and rising inflation—these were the main contributing factors to the financial difficulties US healthcare companies faced in 2023. According to S&P Global Market Intelligence, the healthcare sector had the most bankruptcy filings in the U.S. in August of 2023 alone. With the rise of Artificial Intelligence, the industry has been […]

The Secret to Increasing Your Profits and Lowering Your Overhead in 2024

Financial constraints, fierce competition, talent acquisition, and adapting to rapid technological shifts—startup SMEs grapple with multifaceted challenges that require agile solutions. With this, the pivotal role of employees extends far beyond mere job responsibilities. Employees serve as the primary architects of success in your business. They shape the culture, innovation, and overall trajectory of a […]