Working with organizations big and small throughout the nation has unique benefits, the most amazing of which has been watching trends across geographic regions, specialties, and demographics. One such trend seems to indiscriminately apply to various locations, including private practices, sprawling hospital campuses, and even rural hospital centers: it is easy to get lost in the maze of everything that must be done to create and maintain a strong revenue cycle. So many unique industry requirements, ever-changing regulations, and increasing reimbursement challenges demand attention.
Too often, we are chasing down a specific denial reason for hours or something unexpected on a remittance creates confusion that sends us down the rabbit hole of reviewing payer policy guidelines and testing the limits of our payer portal access. The only tried and true method to achieve and maintain a successful revenue cycle is through the careful creation of a strong foundation alongside ongoing attention to and focus on the entire revenue cycle.
In other words, instead of chasing fires, go back to the basics to create solid preventive strategies that minimize the likelihood of combustion within your revenue cycle. To do that we need a firm understanding of the basics. Consider this article an evergreen primer for revenue cycle management basics.