In the realm of Healthcare Revenue Cycle Management (RCM), result interfaces play a pivotal role. They are common, yet their complexity often goes unnoticed. Let’s delve into why these interfaces are both common and complex. 1. Ubiquity of Result Interfaces Result interfaces are ubiquitous in healthcare RCM. They facilitate the seamless exchange of patient data, […]
Choosing the right medical collection agency can be a daunting task. With so many options available, it’s crucial to ask the right questions to ensure you’re partnering with an agency that best suits your needs. Here are seven must-ask questions to help you make an informed decision: What is your experience in the healthcare industry? Experience […]
The move to outsource medical billing can be unnerving, but it is one of the most impactful ways that a small practice can reduce costs and improve efficiency. If you have questions about outsourcing your billing, one of our advisors would be happy to discuss the process and assess whether Svast Healthcare is the best RCM partner […]
Keeping track of medical bills in the ever-changing healthcare sector can be difficult and time-consuming. Healthcare providers now have a practical option for streamlining their Revenue Cycle Management (RCM) procedure: outsourcing medical billing. The following are some strong arguments in favor of outsourcing medical billing: Cost-Effective Outsourcing can yield significant cost savings. For example, a […]
The move to outsource medical billing can be unnerving, but it is one of the most impactful ways that a small practice can reduce costs and improve efficiency. If you have questions about outsourcing your billing, one of our advisors would be happy to discuss the process and assess whether Svast Healthcare is the best RCM partner […]
Deciding whether or not outsourcing medical billing is the right thing to do for your practice can be a difficult decision. However, it should be as easy as deciding whether or not to perform your own appendectomy. Medical billing has always required a specialized set of skills, and in the last few years we’ve seen a steep […]
Patient due amounts (copays and coinsurance) can make up roughly a third (or more) of your practice A/R, but on average only one-third of patient dollars are properly collected upfront. If you see a patient in your practice and they leave without resolving their patient due amount, your chances of being paid in full decreases […]
When posting payments in a practice management system the need for accuracy is essential. Inaccurate postings can result in serious downstream financial affects for your practice. Though the importance and possible negative ramifications of posting payments inaccurately are seemingly obvious, mistakes can easily occur with a simple typo. When posting an insurance payment to the […]
Running a successful healthcare practice involves more than just providing excellent patient care. It also requires sound financial management. Here are five steps to improve your practice’s financial health: 1. Streamline Billing Processes Efficient billing processes are crucial for maintaining a healthy cash flow. This includes timely invoicing, accurate coding, and diligent follow-up on unpaid […]
We’ve all seen it. The patient comes to the check-in window, and you ask “Name… date of birth… have there been any changes in your address or insurance?” The patient quickly replies, “Nope”, and takes a seat in the waiting room. The charge is entered and billed to the insurance on file and two weeks […]
