The Impact of Telemedicine on Healthcare RCM
Technological advancements continue to reshape RCM staffing and the healthcare industry in general. With this, telemedicine is also emerging as a transformative force. According to an ASPE research report, telehealth visits skyrocketed from approximately 840,000 in 2019 to an astounding 52.7 million in 2020, demonstrating an unprecedented adoption of remote healthcare services. With its ability […]
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 […]
Survey Reveals Healthcare Workforce Crisis: Nearly 50% of U.S. Healthcare Workers Likely to Leave Their Current Job
The healthcare industry has long been regarded as a cornerstone of our society, providing essential services to individuals in times of need. Yet, beneath the surface of medical advancements and compassionate care, a crisis is brewing – one that threatens to undermine the very foundation of healthcare. A recent survey has unveiled a startling truth: […]
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. […]
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 […]