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Proper eligibility verification and accurate coding are essential in urgent care settings—not only for maintaining quality patient care but also for ensuring smooth revenue cycle management (RCM) and minimizing days sales outstanding (DSO). Given the fast-paced nature of urgent care …

Revenue Cycle Management (RCM) is the backbone of financial operations in healthcare, particularly in high-demand settings like urgent care centers. Efficient billing processes, accurate reimbursements, and minimizing denials are essential to maintaining financial stability. However, these tasks can quickly become …

In the ever-evolving landscape of healthcare revenue cycle management, efficient denial resolution is paramount. Denied claims can lead to revenue leakage and administrative hassles for healthcare providers. To tackle this issue, innovative solutions have emerged, with AI-driven Denial Managers taking …

Staffing Shortages  Hospitals are facing a nursing shortage nationwide. This includes Registered Nurses (RNs) and Certified Registered Nurse Anesthetists (CRNAs). This is because many current nurses are entering the retirement age and faculty shortages are limiting the acceptance of more …

Introduction Generative AI, a transformative technology with the ability to autonomously create content, has become a significant force in various industries. Within the realm of healthcare providers, its impact is both groundbreaking and multifaceted. This article explores the intricacies of …

Automation has revolutionized numerous industries, including healthcare. The CAQH 2022 index states that ‘increased automation and streamlined processes implemented so far have reduced the cost of our healthcare system by $187 billion annually’. In this blog, we explore the potential …

Revenue Cycle Management (RCM) is a critical aspect of a healthcare organization’s financial success, ensuring seamless and efficient coding, billing, and claim tracking. Traditional RCM practices have often been marred by complexities, leading to revenue leakage, claim denials, and administrative …

The new AI powered chatbot – ChatGPT has taken the world by storm with its text generating abilities. It can assist in a range of tasks such as writing reports, drafting letters and essays, and aiding in other processes. Utilizing …

We are happy to be a part of the Solutions Summit 2023, an initiative of Emergency Department Practice Management Association (EDPMA) Leave Nothing to Chance – Engage, Execute, Excel. In frame: Dhruba Chakravarty (our General Manager), Rathi Dasgupta (our Sales …

RCM Product harnesses the power of Artificial Intelligence and Machine Learning BRISTOL, PA. – April 5, 2023- Healthtek is pleased to announce that they will be exhibiting at the Emergency Department Practice Management Association’s Premier Event, EDPMA Solutions Summit 2023, being …

Artificial Intelligence has benefited the healthcare industry by improving patient experiences and access to healthcare services. Artificial Intelligence (AI) is defined as, “… the capability of a computer program to perform tasks or reasoning processes that we usually associate with …

Practices in the healthcare industry operate using Revenue Cycle Management in order to remain viable. The billing process includes verifying insurance, entering patient demographics into records, specifying charge entries, submitting claims, awaiting payment posting, conducting follow-ups to secure payments, managing …

Telehealth is the act of receiving health-related services from a provider remotely through telecommunication technology. It can provide health assessments, diagnosis, intervention, and consultation without being face-to-face. Telehealth can either be delivered synchronously (i.e., when a doctor communicates with a …

It is essential for healthcare practices to keep on top of their billing and accounts receivable. Providers need to know the status of their cash flow, not only to meet their financial goals but also to ensure adequate patient care. …

Covid-19 has had severe economic impacts on the healthcare industry and has affected the financial stability of patients. Ultimately, revenue cycle management has also been impacted by the pandemic. However, medical practices are implementing Artificial Intelligence and Machine Learning tools …

For healthcare practices to scale and remain operational, they must grow and be efficient. This can be achieved by effectively using Revenue Cycle Management (RCM). This is the financial process of tracking patient care services from registration to the final …

Over the past decade, health care systems and hospitals have adopted digital technologies in different business and functional areas. Digital transformation can be viewed as a modern approach to delivering care to meet the well-being requirements of the consumers while …

Outsourcing some activities of the Revenue Cycle can help you in obtaining payments while reducing overhead costs of maintaining in-house billing teams, expenses on technology, office equipment and compliance related issues. This increases your Revenue, reduces your costs and capital …

Artificial Intelligence (AI) is a boon to the healthcare industry. It has gained significant traction in recent times from optimizing healthcare operations to providing superior diagnosis and treatment. Today we will look at some exciting examples. 1. Cleveland Clinic, Ohio …

Paper forms are becoming less useful as the world becomes more digitized. But some organizations, especially in the healthcare industry, continue to deal with paper documents. The process to digitize these forms can be tedious and time-consuming. However, streamlining processes …

Many hospitals will see negative operating margins despite the best-case scenario of smooth vaccine rollouts and reduced COVID-19 hospitalizations according to a Kaufman, Hall & Associates, LLC report released by the American Hospital Association (AHA). 39% of hospitals will operate …

A denial-free revenue cycle is something every provider strives for but seems nearly impossible. The industry average denial rate is above 10% and going up. Revenue cycle specialists see a multitude of reasons for claim denials. Here are a few …

Providers have reported a surge in claim denials and reimbursement delays. According to a study by the American Hospital Association (AHA), 91% of interviewed providers indicate experiencing an increase in denials. Over half (51%) of those providers deemed the increase …

Payment for healthcare services can be the responsibility of providers, insurance payors, the government, or the patient. Increased patient responsibility has caused a rise in financial stress for healthcare organizations. Some aspects of patient responsibility that affect the reimbursement for …

A recent evaluation of 500 hospitals in the United States shows the volume of hospital visits leveling out below pre-COVID-19 amounts in the latter half of 2020. Experts expect these levels to serve as a new baseline for 2021 hospital …

Revenue Cycle Management is the driving force in ensuring hospitals and healthcare facilities maintain a healthy balance sheet. Unfortunately, COVID has caused 86% of healthcare providers to see a decrease in revenue, according to a survey by HFMA. President of …

Healthcare institutions’ revenues have fallen short of expectations due to the COVID-19 pandemic. Healthcare executives have been altering processes and taking decisions on an as-needed basis during these unprecedented times. In the report “Top Health Industry Issues of 2021,” PwC’s …

For the past nine months, researchers have been racing to create a vaccine to effectively prevent COVID-19. Various government health agencies have come together to work towards a goal of safely distributing 300 million doses of a COVID-19 vaccine by …

The healthcare industry must emphasize the importance of minimizing the often unnecessary cost burden associated with reworking of claims due to denials. This can be accomplished by identifying possible claim denials and correcting them before submission. The key to improving …

OCR has enhanced the way people read and do business for years. The use of OCR in the healthcare industry now enhances the divide between digital and manual processes. The addition of deep learning techniques to OCR solutions further develops robust solutions for the healthcare industry. …

Payers denying healthcare insurance claims is something we all are very familiar with. Whether the claims are denied for missing information, incorrect medical coding, or anything in between, 9% of claims are initially denied, on average. The national pandemic has …

A report by Corvus indicated a 350% increase in ransomware attacks on health care companies in Q4 of 2019 compared to Q4 of 2018. The later part of 2019 was filled with reports of ransomware attacks on a variety of …

COVID-19 has prompted health care executives to analyze their spending more carefully to ensure a healthy profitability. 78% of executives plan to transform current manual processes to more digital and automated processes, allowing for the strategic use of human capital …

MIT Principal Research Scientist, George Westerman, states “digital transformation marks a radical rethinking of how an organization uses technology, people, and processes to fundamentally change business performance.” During a presentation for HIMSS20 Digital, Cheryl Rodenfels, CTO of Americas Healthcare at …

Medical group and health system executives believe it will take at least a full year to recover from the revenue losses due to COVID-19, according to a survey conducted by the American Medical Group Association (AMGA). The survey of 95 …

Key Performance Indicators (KPIs) are used to measure how an organization or department is performing. Companies often evaluate and analyze their business processes against industry standards to see if there is room for improvement. With the help of industry leaders, …

The financial impact of COVID-19 on hospitals and health systems has caused healthcare executives to rethink the way they handle their hospital’s financials. A recent survey conducted by Black Book found that although all of the healthcare CFOs surveyed acknowledge …

Improved medical claim management has been a necessity in the healthcare industry for some time. According to an article in Becker’s Hospital Review, a study showed that 62% of the healthcare executives interviewed noted declining reimbursements to be the most …

There is no doubt COVID-19 has brought uncertainty across all areas of life. From a rising unemployment rate to extended stay-at-home orders, American citizens are wondering how to prepare for the “new normal.” Hospitals and health systems are at the …

What is Artificial Intelligence? Artificial Intelligence (AI) is defined as computers imitating “intellectual processes characteristic of humans, such as the ability to reason, discover meaning, generalize, or learn from past experience” with the ability to achieve goals. AI in healthcare …