Revenue Cycle Management 101

This training provides a comprehensive overview of the healthcare revenue cycle, equipping participants with the knowledge and tools needed to ensure timely and accurate reimbursement. Participants will gain an in-depth understanding of each phase of the revenue cycle – from patient registration to final payment.

Key focus areas include:

• Denials and Rejections: Learn how to identify, analyze, and resolve common billing errors and insurance denials to reduce revenue loss.
• Account Reconciliation: Understand the importance of balancing accounts, verifying payments, and ensuring proper posting to maintain financial accuracy.
• Follow-Up Procedures: Develop effective follow-up strategies for outstanding claims and patient balances to improve cash flow.
• Insurance Relationships: Explore how building strong relationships with payers and understanding payer guidelines can streamline the claims process and reduce delays.
• Best Practices: Learn industry-standard practices to minimize errors, improve efficiency, and support compliance.

Learning Outcomes:

• Define the key components of the healthcare revenue cycle and explain how each phase contributes to the financial health of a medical practice or facility.
• Identify common causes of claim denials and rejections and apply effective strategies to resolve and prevent them.
• Explain the importance of account reconciliation and demonstrate how to accurately match payments with billed services.
• Develop effective follow-up techniques to manage unpaid claims, reduce accounts receivable days, and increase collections.
• Understand the role of payer relationships in the reimbursement process and how to work collaboratively with insurance companies to ensure timely payments.
• Apply best practices in documentation, coding, and billing to enhance compliance, minimize errors, and improve overall revenue cycle performance.
• Utilize tools and reports to monitor, analyze, and optimize revenue cycle efficiency and effectiveness.

Areas Covered in the Session:

• Overview of the complete healthcare revenue cycle, from patient registration to final payment
• Identification and resolution of common claim denials and insurance rejections
• Best practices in account reconciliation, payment verification, and accurate posting
• Step-by-step strategies to improve follow-up procedures on outstanding claims and patient balances
• Understanding the impact of payer guidelines and insurance policies on reimbursement
• Methods to reduce revenue loss through better denial management
• Importance of documentation accuracy and proper coding in maintaining compliance
• Practical tools and reports used to track, analyze, and optimize revenue cycle performance
• Techniques to improve operational efficiency and minimize billing errors
• Live Q&A Session

Recommended participants:

• Revenue Cycle Professionals
• Medical Billing and Coding Specialists
• New and Aspiring Healthcare Professionals
• Healthcare Administrative Staff
• Practice Managers and Office Managers
• Claims Follow-Up and Accounts Receivable Teams
• Patient Access and Front Desk Coordinators
• Compliance and Internal Audit Professionals
• Health Information Management (HIM) Professionals
• Medical Office Assistants and Coordinators
• Healthcare Finance and Reimbursement Analysts
• Physicians and Practice Owners
• New and Aspiring Healthcare Professionals
• Healthcare Educators and Trainers
• Students pursuing careers in Medical Billing, Coding, or Health Administration

Presenter Biography: