5 smart revenue cycle management strategies for your practice
When you run a medical facility, your primary concern is likely with caring for you patients, as it should be. However, like any other business, a practice needs consistent cash flow in order to keep the doors open and the lights on. So it can be difficult and frustrating when you aren’t being paid for the services that you have offered.
Here are five ways in which you can improve your revenue cycle management strategies to collect what you deserve.
1. Focus on specific accounts for collections
Gaining collections from past-due accounts can be tricky, as there seems to be a specific window in which you can still reach out to the patient and receive a response. Typically, with accounts that are one to three weeks past due, you can contact the patient and inquire about their overdue payment. If you still struggle to gain a payment, you should not hesitate to consult revenue cycle management professionals.