Tools for Success as Challenges Become Steeper
A favorite activity of many in Georgia is to get away for a weekend to enjoy the outdoors. There are some great places for hiking, and a popular one is Amicalola Falls. North of Atlanta, it boasts trails of every level, including a daunting 604-step staircase that tracks a steep, mile-long ascent to the Falls overlook. It is not always an easy hike, so thank goodness there are benches along the way. Even with the best hiking gear out there, sometimes hikers need to stop and take a breath.
If you’ve been in revenue cycle management for any length of time, you might agree your job is like a steep hike that gets more precipitous all the time. We’re tasked with collecting rising patient payments while maximizing declining reimbursements. ICD-10, meaningful use and many other initiatives add layers of complexity.
Others agree revenue cycle management (RCM) is a calling, just like other healthcare professions. It’s a rewarding feeling to keep your practice financially successful. As it gets more difficult each day, however, you’ll need to leverage tools and support in new ways. Your clearinghouse is one such tool, and it can do much more than just submit claims. It can help you be proactive regarding denials and appeals, which in turn maximizes cash flow. It can provide near real-time visibility for tracking, reporting and trending. It can also help you stay on top of industry changes such as ICD-10.
A successful climb up those 604 stairs at Amicalola Falls can be difficult, but it’s also rewarding, especially when you have the right tools and gear to help you get to the top. Revenue cycle management is the same way, but don’t be afraid to leverage any tools at your disposal to help along the way. Download Managing Your Revenue Cycle: What You Should Expect from Your Clearinghouse to learn how you can maximize the benefits of your clearinghouse – and ease the steepness of your ascent into revenue cycle success!