Why Net Collections Matter More Than Gross Collections in Medical Billing?
In 2024, on average, medical groups see gross collection rates in the 40–50% range in the USA. While net collection rates typically average around 88% nationally. Numbers like this remind us that revenue isn’t just about how much you bill, it’s about how much you actually collect. As providers, you already know how frustrating it […]
Experts’ Tested RCM Checklist for Small Practices
Small practice owners face a critical dilemma of maintaining quality patient care while managing complex revenue operations. Unlike hospital systems with dedicated billing departments and specialized staff, small practices operate with limited teams. These teams learn revenue cycle management through costly trial and error. A single coding error that represents merely 0.1% of a hospital’s […]
Virginia Medicaid Fee Schedule: Complete Guide to Rates and Billing (2025)
If you’re a healthcare provider serving Virginia Medicaid patients, knowing the current fee schedules can mean the difference between getting paid and getting billed incorrectly. The Virginia Medicaid fee schedule is the foundation for all billing activities and sets the maximum payment rates for services across the state. Whether you’re a physician with a private […]
What is Clean Claim Submission & 10 Reasons Why It Is Important for Your Practice?
In the U.S., the medical insurance claim process is notoriously complex and prone to errors that cost healthcare providers billions each year. Consider that nearly 15% of all claims submitted to private payers are initially denied. Hospitals spent roughly $19.7 billion in 2022 just to appeal and correct denied claims, which is an immense financial […]
What Is The Role of AI in Healthcare Revenue Cycle Management?
Did you know U.S. healthcare providers are projected to lose $16.3 billion in 2025 due to issues like delayed claims, especially medical billing errors, and compliance gaps? These revenue leaks don’t just affect balance sheets. They also impact staffing, patient services, and the overall financial health of organizations. The problem is that most of the […]
Top 12 KPIs in Revenue Cycle Management and How to Track Them
How well is your healthcare practice’s revenue cycle doing? No matter where you stand now, there’s always room to improve and iron out inefficiencies. To get a complete view of your facility’s cash flow, you need to keep track of a revenue cycle KPI dashboard and its metrics. But which KPIs should you pay attention […]
How Robotic Process Automation Improves Efficiency and Reduces Costs in Healthcare
Picture your healthcare facility buried under paperwork, dealing with constant errors and inefficiencies. This not only disrupts your patient care journey but also leads to delayed payments. So, what’s the best possible solution for this? Let’s discuss this in the following article. RPA is an emerging technology in healthcare. It uses software to automate repetitive […]
Is Physician Billing Different Than Hospital Billing? Here’s the Answer
Physician and hospital billing are often confused as the same thing, but there are a few significant differences. Both have their own sets of challenges and require special expertise to handle their complexities. A clear understanding of these billing processes is important for financial management, enhanced patient care delivery, and streamlined revenue cycle operations. Physician […]
In-House vs. Outsourced Revenue Cycle Management
As your medical practice grows, you may find yourself at a crossroads—continuing with in-house medical billing or outsourcing it to professionals. Revenue cycle management plays a vital role in maintaining cash flow, making it crucial to weigh your options carefully. There isn’t a universal solution, as both approaches have worked for different healthcare providers. The […]
Top 7 Reasons for Delayed Payments in Revenue Cycle Management and How to Fix Them
Your medical practice is dedicated to patient care, but maintaining a steady revenue cycle and cash flow is just as important in today’s healthcare reimbursement landscape. Long accounts receivable cycles and claim denials can be frustrating, directly affecting your financial health. However, slow revenue cycles follow recognizable patterns. Identifying these patterns allows you to address […]