Utilizing Revenue Cycle Management Tools

Revenue cycle management is a very important function of any business organization including healthcare setups (clinics and hospitals). The revenue cycle process in healthcare industry is too complex often resulting into great time consumption and errors. Here comes the role of revenue cycle management solutions offered by health IT companies. The tool can be of great help and support for both doctors as well as patients. 

Revenue cycle management tools help physicians to automate the back end processes, which ultimately help in saving time resources. The tools are highly effective in speeding up the over all back end processes and to bring down the errors. Due to automation the cost comes down drastically improving the overall ROI for the practice (& hospital). Revenue cycle management tools in fact help to streamline the overall back end processes of a practice resulting into benefits for both doctors as well as patients.

Healthcare Revenue Cycle Management

Effective management of healthcare revenue cycle is very important for attaining optimal level of ROI for the medical setup. The healthcare revenue process involves scheduling, registration, case management, clinical charge processing, medical records, billing, payment posting, and revenue recovery. The entire process is complex in nature and often results into errors that usually takes away the profit margin of the organization. 

Healthcare IT solutions like revenue cycle management is providing a new lease of life to healthcare organizations.  The software application helps medical professionals as well as hospitals to streamline their entire revenue cycle. The automation helps to cut-down on errors usually committed with the manual process of management. It also provides with numerous tools and facilities that can aid in the process of entire revenue cycle management.

Healthcare Outsourcing Services - Safety, Security Issues

There shouldn't be any doubt that outsourcing services are helping organizations to cut-down expenditure on back end processing. It is not only a question of cost but specialization of BPO companies is also helping to bring about an improvement in the quality of service. Healthcare industry is not an exception to the rule, practitioners and medical setups have started availing healthcare outsourcing services of various professional organizations to streamline their back end processes.

Healthcare outsourcing services may be delivering unmatched advantages, however, certain safety and security issues can not be denied. The healthcare data is very crucial, it is a legal as well as moral responsibility of the practitioners (hospitals) to respect the privacy of patient ailment and treatment. In case when a medical setup opts to go for healthcare outsourcing services utmost most care needs to be taken as regards data safety and security issues.

Huge Benefits of Healthcare BPO Services

 

 

The cost of managing the healthcare facility is rising consistently. Practitioners and hospitals are finding it very difficult to manage. The major overhead expenses are towards the back end processing activities. Most of the staff is busy managing the back end functions including appointment scheduling, maintaining electronic medical records, claims processing and so on. Here comes the role of healthcare bpo services that aims to streamline the overall back end processes of a medical setup and practice.

Healthcare bpo services ensure finding a reliable, experienced business partner who performs essential back-office services at reduced cost but not reduced accuracy, speed or security. It is a process wherein a professional organization takes over the processing of back end functions on behalf of the customer. The outsourcing helps the organization to concentrate on the main stream business and to get the processing done with lesser cost expenses.

The Increasing Need For Healthcare IT Services

There is tremendous pressure on the healthcare industry owing to both patient services as well as back end processing. The industry is so complex that major portion of time resources are spent on back end processing by doctors and their clinic staff. The same is true about hospitals, they cater to the large no. of patients as well as the huge amount of back end processing. Thanks to IT support companies that are offering healthcare IT services to streamline the overall back end process of clinics and hospitals.

These IT support companies are giving their services to medical practitioners and many other medical facilities. Services like 24*7*365 monitoring and repair, software management and up-gradation, Electronic Medical Records (EMR), Electronic Health Record (EHR) support services, virus, spyware security and protection, onsite and remote help desk support services etc are being provided by them. There are many variations in these healthcare IT services as per the requirements of practice (or hospital).

Overview of EHR Incentive Programs

EHR is the new age tool for the healthcare industry. Its transforming the healthcare industry by delivering unmatched advantages to physicians, hospitals as well as patients. EHR is collective in nature - it is a collection of patient medical records across different physician clinics and hospitals. EHR as compared to EMR provides doctors with better scope of diagnos and patient health management. However, implementation of EHR involves cost and hence the US government has announced EHR incentive programs. The Medicare and Medicaid Electronic Health Record Incentive Programs will provide incentive payments to eligible professionals, eligible hospitals and critical access hospitals (CAHs) as they adopt, implement, upgrade or demonstrate meaningful use of certified EHR technology. 

The Medicare EHR Incentive Program will provide eligible professionals can receive up to $44,000 over five years under the Medicare EHR Incentive Program. There's an additional incentive for eligible professionals who provide services in a Health Professional Shortage Area (HSPA). The Medicaid Electronic Health Record Incentive Program will provide eligible professionals can receive up to $63,750 over the six years that they choose to participate in the program.

EHR - The Need of The Hour

Patient medical records play a crucial role in the overall process of treatment. Medical history of patients serves as the basis of diagnosis, line of treatment and patient management. The healthcare industry have gone a long way from manual process of patient medical record keeping to electronic medical records. The records are created in a digital format that facilities both doctors as well as patients. However, great benefit can be derived if these electronic medical records are stored centrally and linked to EHR (Electronic Health Records Software).

To many EMR and EHR are the same, however, in real practice there is a big different between the two. Electronic medical records are created by individual doctors for their use, however, EHR is the collective record of patient medical history across different clinics and hospitals. Collective records provide better scope for diagnosis and treatment. It wouldn't be wrong to say that EHR is the need of the hour.