How can healthcare practices enhance their revenue cycle management processes?

Healthcare practices can improve revenue cycle management by implementing efficient patient registration and scheduling, verifying insurance eligibility upfront, accurate coding and documentation, timely claims submission, prompt follow-up on denied or unpaid claims, strategic pricing and contract negotiations with payers, monitoring key performance indicators (KPIs) to identify bottlenecks or areas for improvement, and investing in advanced RCM software and technology. Additionally, regular staff training on compliance and billing best practices is essential to streamline the revenue cycle.