Innovative Methods for Increasing Urgent Care Billing Cash Flow
Several aspects of healthcare reform, such as the advent of more time-consuming value-based compensation models and ongoing changes to billing guidelines, may result in economic losses for providers. The cost of doing business for urgent care billing companies can swiftly mount.
If you want to properly maintain your:
- Positive cash flow
- Meeting your financial obligations
- Expanding your business
They all start with a focus on revenue. Here are the best ways to increase urgent care billing revenue, even when business is ebbing rather than flowing.
RCM must improve
Effective revenue cycle management is one of the most important aspects of remaining profitable because it is a constant challenge with many facets. The good news is that you can manage your revenue cycle with the right training and oversight.
You should start managing your revenue cycle at the front desk. Make sure the right person is in charge of this important and high-profile position. Then, in the following areas, provide instruction:
- How to greet visitors
- How to make sure your insurance coverage is still valid by double-checking it
You can evaluate patient responsibility from the start and request this percentage of the charge even before the patient leaves with real-time verification (RTV).
Make the most of technological advancements
Technology isn’t a fad, whether you like it or not. It’s a part of the overall healthcare system. You can either use it to your advantage or fight it to the bitter end. Offering online appointments can help your clinic reach out to savvy online healthcare consumers as well as more traditional patients who are increasingly using the internet to locate providers. It is more convenient to schedule appointments online.
It’s a great place for healthcare providers to start.
- Work hours should be extended.
Even if it appears to be a simple solution, more patients usually equals more revenue.
- Expanding your business hours by opening earlier
- Postpone the closing time
- Keeping the doors open on weekends
- Availability in Holidays
All these above-mentioned points can assist you in attracting additional patients. Patients turn to urgent care billing centers for assistance when traditional healthcare clinics are closed or overcrowded. Make sure you’re prepared and ready to see patients when they arrive.
Inadequate staffing can be a nightmare for urgent care billing centers, but over-staffing can hurt your bottom line. You’ll need to look over the data to make sure you’ve got the right people on the job. Begin by looking at your weekly visit volume.
Examining peak and slow times to see if any patterns emerge that can aid in coverage decisions. Take a step back and look at the volume year over year to see if there are any seasonal patterns. You can be confident that your scheduling is correct if you have the correct data.
Patient retention policy
Customers who require appointments on short notice will find online scheduling to be convenient and flexible. They don’t need to call you during business hours if they find you online.
You can text them ahead of time to remind them of their appointment and to let them know if there are any delays. They have the flexibility to change their schedule as needed, resulting in less time spent in the waiting room. It also demonstrates your gratitude for their time.
Sunknowledge is a better option for Urgent Care Billing because of the following reasons:
Sunknowledge, as a pioneer in urgent care billing, has the unique ability to provide unique support for all aspects of revenue cycle management. We are a champion partner for some of the most prominent names in urgent care billing industry due to our robust credentials and capacity to operate as an operational arm.
By partnering with Sunknowledge, you will receive access to an unparalleled skill set as well as a ready to deploy pool of urgent care billers. We start providing hands-on support with CPC-certified coders and an Urgent care billing team that understands what it takes to increase cash flow.
The following are Sunknowledge Services Inc’s distinguishing characteristics:
- Conformity certificates renewed yearly
- On all business days, dedicated resources with US phone numbers are available throughout
- Supervisors and Internal Auditors are responsible for providing free consultation
- IT infrastructure, account setup, and account transition are all free of charge
- All of our clients have access to dedicated Account Managers at no additional cost
- A cutting-edge infrastructure has been put in place to protect PHI from malicious threats
- USD 3 million in liability insurance, with per-incident coverage of up to USD 1 million
- No binding contract
Our AR continuous monitoring experts can help you collect up to 80% of claims that have been pending for 90 days or longer. As a result, all of our clients have good cash flow.
The team of Sunknowledge provides remote assistance for urgent care billing during pandemics, unlike any other RCM vendor in the healthcare industry. Whereas most other RCM vendors are struggling to keep up with their required standards, we continue to set the industry standard for productivity.