77th ASSH Annual Meeting - Back to Basics: Practice and Education-IC53: Revenue Cycle Management - What You Need to Know to Optimize Your Practice? (AM22)

IC53: Revenue Cycle Management - What You Need to Know to Optimize Your Practice? (AM22)

Video Transcription

Video Summary

This video transcript is a panel discussion on revenue cycle management in the healthcare industry. The panelists discuss various aspects of revenue cycle management, including the US healthcare system, the key phases of the revenue cycle management process, challenges in the industry, and strategies for optimizing revenue collection. The discussion highlights the importance of accurate patient information, proper coding and charge entry, timely collection of payments, and effective claim submission. The panelists also touch on regulatory and administrative challenges, such as compliance with HIPAA regulations and the Cures Act, and the impact of open notes on patient access and documentation. They recommend resources such as the ASSH Handpieces platform and coding courses for healthcare providers looking to improve their revenue cycle management practices. Additionally, the panelists discuss negotiating contracts with insurers, the potential for out-of-network billing, and the benefits of offering cash pay options to patients. Overall, the panel provides valuable insights and recommendations for healthcare providers seeking to optimize their revenue cycle management processes.

Meta Tag

Session Tracks Practice Management

Speaker David Wei, MD, MS

Speaker David F. Ratliff, MD

Speaker Julie E. Adams, MD

Speaker Lauren E. Wessel, MD

Keywords

revenue cycle management

healthcare industry

key phases

challenges

strategies

patient information

coding and charge entry

claim submission

regulatory challenges

optimization