Photo courtesy of Joy Hicks
This week's Medical Office Topics
- 5 Areas of Accounts Receivable Management: The overall goal of the AR management is to achieve the shortest collection period as possible. Accounts receivables, also known as patient accounts, refers to revenues generated but not yet collected. To ensure cash flow is sufficient for effective management, the medical office has the responsibility to maximize its revenue potential.
Accounts Receivable (AR) management involves nearly all areas of the medical office. Successful accounts receivable management requires a full understanding of how each area or department relates to and influences the revenue cycle and the AR collection period. The eight areas include:
- Legal Concepts
- Contract Negotiation
- Patient Rights
- Patient Access
- Charge Capture
- Health Information Management
- Patient Financial Services
- Building a Dynamite Patient Access Team: The success of your medical office relies heavily on how well Patient Access services, or the front end staff performs. The cycle of a patient account originates with the initial entry of patient demographic information. Building a dynamite patient access team is a crucial step toward improving billing and collections efforts and increasing revenue cycle performance.
The reasons why most patient access services teams have a low performance rate are largely due to the lack of proper resources, inadequate training and insufficient staffing levels. Fortunately, these can be resolved quickly and without huge expenses.
- Ten Responsibilities of Health Information Management:THealth Information Management is the process of maintaining, storing and retrieving patient health information in accordance with applicable Federal, State, and accrediting agencies' requirements. There are ten responsibilites within the framework of health information management. ...Read More...