Today with the increasing cost of the healthcare industry and rising billers and coder’s wages, finding a team of experienced billers and coders has become quite an expensive affair for many healthcare practices. In fact, today hospitals and healthcare practices have more faith as they relied on having outsourcing RCM solutions rather than hiring an in-house billing management team. Furthermore, according to a recent survey, 30% of healthcare practice’s members preferred outsourcing their revenue cycle management to outsource from more than one vendor to handle parts of the automation process in the revenue cycle according to a poll by the Healthcare Financial Management Association’s (HFMA) Pulse Survey program for Alpha Health.
Moreover, healthcare practices use revenue cycle management to cover the bulk of patient charges and costs for their services as it is not only a cost-effective solution but also ensures a faster reimbursement rate than in-house billing management processes.
There are many revenue management today who not only take care of the pre and post billing workflows that have been tailored customized to create cleaner claims and reduced billing and coding errors; it further ensures a reduction in denials, operational cost along while being regularly up to date with billing mandates and technology as well.
Coping successfully with the rising demand for technologies that cater to the patient financial experience, today revenue cycle processes unify the billing experience as well.
In fact, Dr. Dipak Nandi, who is also a recipient of several entrepreneurial awards, A proud member of the prestigious AIIMS alumni, and a board-certified psychiatrist; today has been involved across the United States and India with key strategic initiatives in healthcare services like medical billing and telemedicine who in this pandemic seeing an increasing growth and demand in the mental illness observed outsourcing Revenue Cycle Management ensures delivering a thriving financial experience along with better patient care management but also seamless billing operation.