Coffee with Coker
Episode 117: How to Be Successful with Revenue Cycle Management
- August 17, 2023
The speakers will break down various areas they review when evaluating the revenue cycle and give examples of how they evaluated and helped clients achieve success around revenue cycle improvement. They will discuss some of the key pitfalls and areas where physician enterprises struggle, and offer advice, regardless of type and size, to consider as you optimize your revenue cycle processes and performance.
In the context of revenue cycle management, it’s essential to emphasize that the scope extends far beyond the billing office alone. The notion of “outsourcing the revenue cycle” often requires clarification, as it commonly refers to selectively outsourcing certain components, like billing or specific front-end operations. It’s rare for an organization to entrust the entirety of its revenue cycle, spanning from initial patient intake and service provision to claims processing, payment reconciliation, collection endeavors, and comprehensive follow-up, to an external entity. This podcast episode delves into the intricacies of this comprehensive revenue cycle management process.
- Opening Introduction (0:11)
- Key pitfalls and areas to avoid when evaluating the revenue cycle (1:02)
- The interaction between each functional area (6:05)
- Why are we seeing more and more issues occur (9:28)
- How to diagnose billing and billing issues (12:13)
- Solutions and recommendations (18:37)
- What do the leaders and managers think of the reports? (24:26)
- Sustainability measures to help with implementation (27:40)
- Using dashboard reporting for key performance indicators (33:16)
- Question the status quo on revenue cycle management (38:07)
- How Is Inflation Affecting the Reimbursement in Your Managed Care Agreements?
- Revenue Cycle Management – Look Our for the Red Flags!
- Avoiding Four Common Pitfalls in Revenue Cycle Management
We welcome all feedback from our listeners. Email us questions on any of the topics we discuss or questions about issues that interest you. You can also provide recommendations on matters for future episodes.
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