Running a healthcare practice can be complicated work. Getting your finances straight shouldn’t make it more difficult. In reality, however, this is often the case. You’re up against a billing system that grows more complex by the day. You’ve got insurance claims to make, medical codes to get right, and unpaid balances to chase. This is not to mention rising overhead costs. You need a system. You need a robust way of tracking and managing what you spend and what you get paid.| Electronic Health Record News | DrChrono Blog
Regulations are complex and evolving. Coding requirements change often. You’re up against these challenges while working your way through day-to-day tasks. It’s a lot. So, it’s no wonder some things slip through the gaps and compromise your revenue integrity. That’s why enhancing your revenue integrity is essential in healthcare. The goal is to ensure billing accuracy and maintain compliance. Get it right, and you maximize your profit. Let it fall to the wayside, and your earnings tak...| Electronic Health Record News | DrChrono Blog
Healthcare financial performance has grown more complex. With so many players, rules, and processes, optimizing the revenue cycle involves many pieces. Each stage has intricacies. There are also constant code and reimbursement changes. Practices must be proactive in their workflows and solutions surrounding claim submissions. Integrated revenue management is key to solving challenges and boosting finances. With this approach, you can address current gaps in revenue cycle management (RCM). In ...| Electronic Health Record News | DrChrono Blog
In the world of medical billing, every detail matters. Inefficiencies can lead to all sorts of problems. Delayed payments, unhappy patients, adverse health outcomes, and more. That’s why creating a truly efficient payment system is integral to your success. And part of this is introducing credit card processing for medical practices. Credit cards are the single most popular payment method in the United States. According to Forbes Advisor, “credit card use is widespread and continues to be...| Electronic Health Record News | DrChrono Blog
Cashless payments are becoming more and more popular in the healthcare industry. Most patients and healthcare providers now prefer non-cash payments. These can include card, mobile, digital, and contactless payments. The shift from cash transactions began as other payment solutions became mainstream. But that trend has gained momentum in recent years. And cashless payments have really taken hold. So, why the rapid transition to cashless payments? And what’s in it for healthcare providers?| Electronic Health Record News | DrChrono Blog
If you struggle to stay on top of your practice’s financial management, automation could be the answer. Specifically, revenue cycle management (RCM) automation. Over 9 in 10 workers believe automation solutions increase productivity. 85% reported a boost to team collaboration. And almost 90% trust automation to reduce errors and enable faster decision-making. In this article, we’ll explain what RCM is in healthcare and why it’s so important. Then, we’ll explore how automation fits int...| Electronic Health Record News | DrChrono Blog
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