Optimizing Medical Charges Reimbursement
According to a poll administered by Cardinal Health, healthcare decision makers reported reimbursement as the biggest problem facing health systems today. The failure to effectively capture charges, along with poor charge master coding, and lost or late charges, can be expensive for the organization.
Clinical Services (laboratory, radiology, cardiac cath lab, etc.) staff managing revenue cycle functions, represent significant risk for the majority of organizations. Technology and systems can help mitigate some of the risk, but a majority of the issues are due to the lack of competency for performing revenue cycle-related work. Unfortunately, this staff is rarely trained on processes and leading practices of the revenue cycle or the business of healthcare. It is essential to provide training to these professionals to increase their understanding of their role within the Revenue Cycle.