Higher Medical Claims Accuracy Saves Money
Over the past five to ten years, a number of developments and changes in the healthcare business have had an influence on reimbursement for medical practises. Third-party payers (UnitedHealth, BCBS, Humana, Anthem, Aetna, Cigna, etc.) have negotiated fee-for-service contracts with healthcare providers, frequently resulting in payments at less than 100% of charges as a result of Medicare and Medicaid's ongoing reductions in physician reimbursement. Additionally, the Health Insurance Portability and Accountability Act's (HIPPA) Administrative Simplification standards have tightened the guidelines for submitting claims data. The government's focus on combating healthcare fraud and abuse, as well as compliance, have significantly heightened the importance of proper billing. Medical practises are being compelled to modernise their revenue cycle management procedures as a result of these worries. What does Revenue Cycle Management entail? The revenue cycle is described by the Hea