Improve Revenue with 4 Changes at your Front-end

Maintaining financial stability is not easy in the ever-changing healthcare industry. This is why it is essential that healthcare providers understand how each process impacts their revenue. Read on to look at 4 ways you can significantly maximize reimbursement by optimizing your front end.

Focus Front End

The first step in the revenue cycle is scheduling a patient. Train your staff to use that time to collect maximum and latest patient information, including demographics and insurance coverage. Your staff can discuss estimated patient liability, paperwork, arrival time and so forth, for a visit.

Obtaining the relevant and updated patient information in advance can not only improve patient throughput and wait times, it can also reduce billing and collection errors later in the revenue cycle.

Collections at the Time of Service

Patients are increasingly becoming more responsible for out-of-pocket healthcare expenses. This gives practices and healthcare facilities an opportunity to maximize the revenue collected before or at the time of service.

Technology and practice management software can be used to obtain visibility of co-pays and prior balances and discuss expectations before the patient arrives or services are provided. The patients can then be made aware of them and would be better able to pay for services rendered.

Front Office Staff Training

If your front office team members are effectively trained, claims are billed more accurately while denials and rejections can be reduced. At the same time, providing proper tools for team members can increase the efficiency of billing and collections. If team members are not confident or knowledgeable about co-pays or open balances, patients are less likely to pay. That makes them even less likely to pay in the future if they have been allowed to bypass their liability in the past. The front office team plays a vital role in setting the financial expectations.

Technology

Whether you have an in-house billing team or have a professional RCM service manage your revenue cycle, you should utilize technology to automate as much as possible. The latest technology allows you to efficiently schedule and complete the pre-registration process, add or modify demographic and insurance data, allow patients to pay co-pays and sign financial agreements and medical consents, and more.

Your front-end team is the engine that drives the entire revenue cycle management. Combines with a great medical billing service, such as Med PMR, their efficiency can ensure cleaner claim submission, denial reduction, quicker reimbursement and increased revenue.

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