These tips provide huge opportunity to reduce the claims denials rate and claims rejection.

1. Tips to Improve Your Revenue Cycle
Management in 2020
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2. Introduction
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• In any scope of work there is always room for improvement.
Revenue Cycle Management being the backbone of healthcare
industry has continuous room for improvement with the ever
changing revision of Medical procedures, technological
developments and Insurance policies.
• The unceasing changes and updates in the healthcare industry
and the revenue cycle management process requires Providers,
Medical staffs, medical billers and coders to be up to date to
keep the physicians practice and the billing process intact.

3. www.mgsionline.com
• Revenue cycle management is not just about entering and
submitting claims, an efficient revenue cycle management
services starts right from the time the patient seeks appointment
and goes on until the physician rendering the service is
reimbursed with the allowed amount successfully.
• The cycle includes step by step process of scheduling, Patient
registration, Insurance eligibility and benefits verification, Patient
Demographics, Coding and Billing, Charge Entry, Claims
submission, Payment Posting, AR follows up and Denial
Management.
• Let us discuss in details some key areas which can pull down
your chances of claim getting paid at the first submission and
some tips to improve them.

4. Dedicated and Skilled Team of billers and Coders
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• To run the billing process effectively and productively, a
dedicated team to handle each scope of service efficiently is
indispensable.
• Skilled and experienced team of billers and coders can ensure
reduced claims denials.
• A dedicated team of AR follow up will ensure to bring back
denied or lost revenue.
• On the whole having an efficient team to handle the entire billing
process is the key to keep the cash flow unimpaired.

5. Insurance Eligibility and Benefits verification
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• Verification of each patient’s insurance coverage and benefits is
vital as these information will help the provider communicate the
patient’s responsibility during the first visit and handle the
procedure suitably.
• Insurance policies and guidelines keep changing so it is
important to know if the service to be rendered is covered under
the patient’s current insurance policy.
• Similarly it is also essential to be aware if the patient has paid his
insurance due to avoid loss of payment.
• Research confirm that 90% of claims denials are because of
rendering patient service without proper and accurate insurance
information.

6. Denial Management
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• Neglecting denied and rejected claims can cause unpredictable
financial drain on your practice.
• Lack of proper insurance coverage, incomplete or inaccurate
claims documentation, medical billing and coding errors,
incorrect charges or demographic entry etc. are few reason for
claim denials.
• Submitting cleaner claims and getting them paid at the first
submission requires experienced team of billers and coders who
are updated with the constant changes in the billing process.
• An experienced and dedicated denial management team should
be able analyze your billing process and appeal for the missed
and lost revenue.

7. Utilizing Latest Technologies
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• To meet the demands of the changes in the Healthcare and
Medical billing industry, the technological industry has been
contributing various updated advancements to improve and ease
revenue cycle management service.
• Choosing the right platform that suits your requirement will help
smoothen your medical billing process.

8. Outsourcing Revenue Cycle Management
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• Physicians and Practices are at loss looking at their hiked
account receivables.
• While their core responsibility is patient care, many physicians
and practices fail at effective billing thereby missing on cash flow
through various loop holes.
• As mentioned above the reason for delay, denied and rejected
claims can be varied.
• Identifying the reason for lost or denied revenue can be time
consuming and painstaking.
• This is one major reason why majority of the physicians agree
outsourcing to be the best option for a productive revenue cycle
management.

9. www.mgsionline.com
• And outsourced medical billing team have the experience and
expertise handling every scope of services for you effortlessly.
• The outsourced medical billing team is well trained to keep
themselves current to efficiently handle your claims and increase
claim first pass rate.
• The outsourced medical billing company is fully equipped with
the latest technology to ease and smoothen delivery of end to
end billing cycle to its client.

10. About MGSI
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• MGSI has over 25 years of experience providing revenue cycle
management solutions to physicians, physicians group,
hospitalist etc.
• MGSI has expertise in billing 25+ specialties in multiple states
across the country.
• MGSI strictly follows the information security guidelines in order
to protect the confidentiality of patient information as mandated
by HIPAA and has been certified by LIVE Compliance as it
relates to its network security, employee training and all PHI
matters. For further details about MGIS pls. log on to
www.mgsionline.com