Here are five expert revenue cycle management tips, published by Becker's Hospital Review since Jan. 1.
1. Mark Spinner, CEO of AccessOne, a provider of patient financing solutions, said hospitals should give patients financing choices to drive more engagement, satisfaction and reimbursement.
2. Kevin Smith, vice president of product management at nThrive, a revenue cycle management company, recommended that hospitals update antiquated pricing benchmarks to boost revenue cycle integrity and performance.
3. Mr. Smith also recommended that hospitals ensure coding accuracy to increase revenue cycle integrity and performance.
4. James Zadoorian, PhD, managing principal at ARxChange, which designs patient financial revenue systems, said hospital revenue cycle leaders should take multiple approaches to understand the behavioral decisions that prompt patient payment activity.
5. James Dressman, executive director at Professional Medical Services, a claims management company, recommended implementing an efficient process to manage low-balance patient accounts can help ensure a hospital receives full reimbursement for its services.
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