trends

Trends in Healthcare Billing: Healthcare Revenue Cycle Management at QWay

Today’s healthcare delivery system is the talk of many countries especially in the United States. The ongoing issues that focuses on how the healthcare financial process is handled and it is one of the many problems that’s frustrating professionals in the billing department of hospitals and medical facilities.

Healthcare facilities are facing issues that complicate billing, including changes in healthcare records keeping, increasing out-of-pocket costs for patients, changes that take place in healthcare laws, change in Medicare and Medicaid policies, possibility of the Affordable Healthcare Act. Due to increase in operational costs in the medical industries, healthcare facilities cannot afford to let their A/R go unchecked.

A/R must be carefully managed, and the most effective way to do that is with improved healthcare revenue cycle management (RCM). Many healthcare facilities are looking to streamline and reduce costs by outsourcing, offshore, critical parts of their billing cycle to India, a country with proven expertise in all RCM services.

At QWay, Our new strategies of RCM that we follow are:

  • Reduced downstream problems, including delayed payments, reworks and fewer errors
  • Improved flow of information throughout the revenue cycle
  • Increased visibility and charge data accuracy
  • Decreased denials
  • Decreased manual effort to bill and collect POS
  • Improved coding accuracy
  • Enhanced patient satisfaction

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