As the world’s begin to open up in reaction to the COVID-19 epidemic of the novel coronavirus, it’s difficult to predict what the future holds for healthcare. The epidemic has been a major source of concern for healthcare providers and organizations worldwide, and it is having a significant impact on revenues and the revenue cycle management business. Many hospitals and health systems are experiencing substantial financial losses, which are affecting the whole revenue cycle and revenue recovery…

Wondering whether you should outsource medical billing services or not? Your medicare staff might be weighing on options and determining the best course of action to maximize your revenue stream. A healthy revenue cycle has a significant effect on the overall growth of your healthcare organization as your staff can then provide optimum care to patients. However, in-house medicare billing is a bit costly, exhausting and inefficient step, as your staff has more important tasks to handle.…

The latest updates in the US healthcare system have brought a plethora of new challenges for both patients and medicare providers. The introduction of a value-based and time-consuming compensation model and intermittent alteration in the healthcare policy can cause a significant revenue loss to the medicare providers across the USA. Failure to stay up to date on the ever-changing medical billing rules and regulations and medical billing and coding errors, result in medical practices leaving up to…

A reliable and steady revenue stream is requisite for running an efficient medical practice. If your billing errors are not optimized for success then it’s difficult to achieve it. Whether they incur denials, delayed payments, lost productivity, or client complaints; medical billing errors can inflict detrimental effects on your revenue cycle management. Eliminating medical billing errors is integral for your bottom line, so you have to narrow down common billing mistakes that your practice is prone to…

Revenue cycle management is an integral component of all hospice and Medicare practices. No matter how exceptional the performance of your Medicare staff, you can’t keep the doors open based on the quality care you provide. Paying close attention to finances is unequivocally just as important. Medicare practices and hospices may find themselves scrambling to remain viable, while other practices around them are thriving if they do not maintain a steady stream of revenue. In the end,…

Medicare organizations and hospices strictly adhere to Revenue cycle management (RCM) to ensure a steady stream of revenue in form of reimbursement for the care they provide to patients. Increasing collections, managing denials, and re-submitting and scrubbing claims are a few requisite revenue cycle activities for practices to accomplish. However, to elevate the revenue cycle and ensure the profitability of your practice you need to be cognizant of the KPIs. Moreover, your Revenue recovery strategy must track…

When it comes to flourishing home health or hospice agencies, in-house employees are unequivocally the top contributors to organizational success. However, regardless of their skill, talent, and capability, these professionals lack the availability and time to keep tabs on the Medicare industry’s ever-changing tides. So, it turns out that outsourcing medical billing can prove to be highly beneficial for the smooth functioning of your organization. At Dominion Revenue Solutions, we have collaborated with numerous home health and…