CME OnDemand: Crack the Codes Practice Management and Coding-Workbook: Revenue Cycle Management

Workbook: Revenue Cycle Management - Improve Your Bottom Line

Pdf Summary

The document titled "Revenue Cycle Management Improve Your Bottom Line" is a presentation by Karen Zupko, President of KarenZupko & Associates. It provides an overview of revenue cycle management strategies for improving profitability in medical practices. The document emphasizes the importance of effectively managing the revenue cycle, including billing and collections, to optimize financial performance.<br /><br />Karen Zupko is an internationally recognized thought leader and speaker in the healthcare industry. She has extensive experience consulting, coaching, and training physicians and healthcare managers on practice management. Her expertise encompasses various areas such as marketing, financial management, operational efficiency, leadership, and online reputation management.<br /><br />The document highlights the significance of accurate documentation, timely completion of documentation, and selecting appropriate diagnosis codes to ensure proper reimbursement. It emphasizes the use of data in decision-making, including analyzing accounts receivable (A/R) aging reports and monitoring denial rates. The document also provides guidance on reviewing payor fee schedules and creating policies for collecting patient responsible balances.<br /><br />Additionally, the document discusses the benefits of offering patient financing options, such as CareCredit, to increase treatment acceptance and shift the financial liability of collecting from patients to a financial institution. It provides instructions for implementing CareCredit and collecting surgery deposits.<br /><br />Overall, the document aims to help medical practices improve their revenue cycle management processes and ultimately enhance their bottom line.

Keywords

Revenue Cycle Management

Improving profitability

Medical practices

Billing and collections

Financial performance

Karen Zupko

Accurate documentation

Data analysis

Patient financing options

CareCredit