ARTICLES & RESOURCES
Medical billing errors pose a significant challenge to your home healthcare agency. It directly affects your profitability. It also complicates your ability to cover costs like salaries and utilities. Addressing these billing errors demands administrative effort and resources. You need to dedicate staff time to identify and correct errors. You’ll need to re-submit claims, and
In recent years, the rise of home health care outsourcing disrupted the healthcare industry. It’s a response to mounting challenges families and healthcare providers face. They grapple with limited resources and rising operating costs. The search for solutions becomes paramount. Through business process outsourcing, agencies and families can get the expertise needed for home care
By getting the support of external partners, home health agencies can access specialized skills and tools without the hefty investment in training or infrastructure. This helps expand business operations and improve the bottom line. In a 2019 article provided by Home Health Care Mag, providers are using outside help a lot more. In two years,
Revenue cycle management (RCM) is pivotal in managing the financial aspects of patient care services. By ensuring healthcare organizations are paid on time and in full, effective RCM helps maintain a stable revenue stream and manage cash flow, resulting in a steady and predictable income. However, one persistent challenge is delayed reimbursements, which can severely
In today’s competitive world, businesses need to find ways to streamline their operations. To do this, most modern healthcare agencies turn to healthcare business process outsourcing (BPO) providers. A BPO’s cost-saving services can increase your company’s efficiency. This lets you optimize your operations. As a result, you’re able to focus more on patient care. Let’s
In 2021, insurance companies denied an average of 17% of claims. One insurer had a denial rate of 49%. Another reached a staggering 80% in 2020. All these denials were for patients who were treated by in-network physicians. That’s why medical claims processing is crucial for having a healthy revenue cycle. Efficient claims management strengthens your
Many healthcare facilities only understand the drastic effects of coding errors once it is too late. Aside from the financial troubles that this can cause, it can lead to possible legal problems and in some cases, even to the closure of your business. Instead of waiting for the worst to happen, create a plan on
