Meduit Breaking News
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At Meduit, we are driven by compassion, and there?s no better time than Thanksgiving to lend a hand and share some holiday joy. On Friday, November 16, our team members, in partnership with Publix Supermarkets, delivered 100 Thanksgiving meals to the Charlotte Rescue Mission for their yearly Thanksgiving Food Box Drive. Together we were able to bring smiles and Thanksgiving dinner to families who otherwise may not have had resources available to celebrate the day.
Revenue cycle processes have had to continuously evolve over the years to keep pace with the rapid changes occurring in the healthcare industry. As a result, RCM vendor partners are now utilizing technology that hospitals do not have access to on their own. To be successful in this new climate of increasingly complex payment models, providers need to focus more on how to streamline their processes to optimize reimbursement rather than on insurance denial management.
How well are your revenue cycle processes working? A good indicator is the age of your accounts from final bill or claim date. Generally, a clean claim gets paid in 30 days or less. If a claim is older than 60 days there is typically something wrong with it, and once you pass 180 days, collectability on that account dips to 5%.