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Health systems considering remote revenue cycle management.
Revenue cycle management articles. While some facilities remain satisfied with this level of efficiency there are smart rcm practices that dramatically improves fprr and helps in maximizing revenue. The most significant parts of the process includes tracking patient claims collecting payment for each claim and handling claims that are denied for various reasons. Majority of revenue cycle management teams are able to achieve an efficiency of only up to 70 percent in their first pass resolution rate or fprr. Revenue cycle management firms may charge from 2 to 10 of collections depending on how much front end work the practice performs the specialty and the volume of charges.
In this article we provide a brief description of current hospital revenue cycle management practices. September 15 2020 by jacqueline lapointe. Watch this video to know more. The survey of 587 chief financial officers and revenue cycle.
1 we will touch on each of these areas and attempt to show the importance of each in reaching a successful end result.
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