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Regularly updating patient records is equally essential, as it helps prevent billing errors and delays. A well-maintained and up-to-date patient database contributes to the overall accuracy and efficiency of the revenue cycle. This information serves as the foundation for billing and reimbursement processes.
The bad news is that if claims are not handled, the average cost to rework a claim is $25.20, which quickly adds up. Read more about this in our whitepaper (Guide) Top Three KPIs to Track to Set Your Medical Practice for Success. Health Prime compiled a list of 10 Frequently Asked Questions (FAQ) about denial management: 1.
Patient Financial Services Patient financial services, such as payment plans and financial assistance programs, demonstrate a commitment to patientsatisfaction. These services not only improve patient collections but also contribute to enhancing patient experience, maximizing retention, and increasing loyalty.
The healthcare industry is in a constant state of evolution, developing new tools and strategies to enhance physician performance and patientsatisfaction. These ongoing industry trends can also facilitate physicians’ tasks, allowing them to focus on patients while ensuring proper revenue collection.
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