Unique Strategies Today’s Top Medical Organizations Use to Maximize Revenue
Posted by HMI Corporation on November 8th, 2019
Medical Organizations Use to Maximize Revenue Using Revenue Cycle Management Consulting Services
Smart medical organizations do everything in their power to maximize revenue – from implementing new technologies to minimizing unnecessary costs.
They Get E/M Coding Right
The evaluation and management (E/M) patient visit is a crucial part of any healthcare organization.
Good healthcare organizations can maximize revenue by understanding how to properly document and code E/M patient visits.
Proper documentation and coding does more than just boost revenue; it also reduces the stress of audits and boosts the efficiency of staff.
They Optimize Charge Capture Services with Artificial Intelligence
A recent study showed most healthcare executives believe charge capture is essential, yet 40% discuss it just once a month or less and only 8% discuss it daily.
They Comprehensively Maintain the Chargemaster to Prevent Revenue Leakage
The hospital chargemaster is the heart of a hospital’s revenue generation. That’s why it’s so surprising to see some healthcare organizations fail to adequately maintain their chargemaster.
They Confirm Compliance with CMS and Regulations
Poor compliance can quickly lead to poor revenue. Smart organizations confirm compliance regularly to ensure revenue flow remains strong.
One of the best ways to maximize revenue, of course, is to minimize costs. Medical organizations can minimize costs in all different ways.
About the AuthorHMI Corporation
Joined: August 7th, 2019
Articles Posted: 13
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