Picture courtesy:  patient.info For a health organization to enjoy a good financial position, its revenue cycle management should be efficient enough to bring in timely payments for the claims submitted and collect the amount due from patients. When either the claims submitted are denied or patients are not paying their dues, it results in unpaid collections and bad debts for the healthcare provider.  One of the ways to reduce revenue losses is having smart patient access. By providing smart patient access, healthcare facilities can see reduced claim denials and improve their revenue cycle management performance. To be able to do this, the RCM services professionals have to collect all the necessary information at the registration process itself. Usually, patients feel that all the work related to registration process is time-consuming and unnecessarily delays the diagnosis and treatment procedure. However, hospital registration process is very critical to colle...

Picture courtesy: Google Images T here are many reasons for the failure of a healthcare facility and claims denial is a major concern for the facilities as it results in missing out on huge revenues that are due. Thus, it becomes vital for healthcare facilities to monitor the claims on a daily basis as a part of revenue cycle management. Usually, it is a practice to review the claims on a periodical basis such as weekly, monthly or quarterly which is very beneficial to analyze the effect of claims on the revenue cycle management and the financial prospects of the facility. But, reviewing the claims on a daily basis has its own plus points and helps in improving the revenues of the facility. By reviewing the claims as and when they are processed and examining all the claims submitted on a particular day at the end of the day ensures that the claims process is being followed appropriately and analyzed for a better revenue cycle management. Incorporating a daily review of t...