Healthcare revenue cycle management encompasses every event from when a patient makes a medical appointment to when the service has been fully paid for and reimbursed. The front-end revenue cycle includes every event before the claim gets submitted for payment. In the next few Madaket Minute videos, we’ll be discussing how front-end processes lead to poor revenue cycle management and sharing five tips to avoid denials and rejections, decreased revenue and cashflow, and unhappy staff.
Watch this installment of Madaket Minute for the first tip about successfully scheduling a new patient for their initial appointment.
Read the “Is Your Front-End Revenue Cycle Broken?” video transcript below and subscribe to Madaket Health on YouTube.
Hi, I’m Devon with Madaket Health! Welcome to this installment of the Madaket Minute, where we’re looking for feedback and thoughts on today’s topic: front-end revenue cycle management.
Front-end revenue cycle is everything that happens before the claim gets submitted for payment. In these next few videos, I’m going to share five front-end processes that lead to poor revenue cycle management and what you can do to remedy these problems. These things often lead to denials, rejections, decreased revenue and cash flow, and unhappy staff—including higher days and AR. Today, I’m sharing number one.
The first step where the revenue cycle can go wrong is when the patient gets scheduled for the first time. One wrong mistake and the payment can get denied. Simple errors in data entry, like transposing numbers such as date of birth or member number, can lead to re-work, additional staff time, resubmissions, and cost more time in AR. However, if you set up a patient portal, pre-registering patients allows you to gather data about their insurance coverage, possible secondary coverage, the number of allowable visits, and the patient’s financial responsibility before they’re ever set up in your system.
I’ll be sharing the other four tips in my upcoming videos. In the meantime, I’d love to hear about any other challenges or solutions you’ve found that help to improve your revenue cycle management. Have a great one!