Before an effective, clinically driven RCM strategy can be implemented, an understanding of current financial health must exist. Practices can leverage a number of best practice metrics to make this determination. [oc_spacer height=”10″] WHY IS DAYS IN AR IMPORTANT? When money is tied up with payers, practices lose momentum with cash flow as well as […]
Read MoreIn simple terms, RCM (Revenue Cycle Management) refers to the steps that healthcare organizations must take to receive payment for services rendered. Historically viewed as a straightforward back-office function, RCM now touches every aspect of a practice. A complete RCM strategy is comprised of three main functions: Generate revenue: Practice survival and sustainability depend on […]
Read MoreNew flu shot codes and payment allowances go into effect each year on Aug. 1 for Medicare, allowing vaccination efforts to begin as soon as the seasonal influenza vaccine is available. To determine the correct vaccine code, you need to know the following: What vaccine was provided, including the brand, Whether the product was trivalent […]
Read MorePayment for vaccine codes is intended to cover only the costs associated with the vaccine itself. To get paid for the costs associated with administering the vaccine, including staff time and supplies, be sure to report a code for the administration. To choose the correct administration code, consider the following questions and consult the table […]
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