NexTrust, Inc.’s Post

"Among the key trends is the rising rate of claims denials across the healthcare sector. Denial rates have steadily increased, with providers seeing rejection rates as high as 10 to 15%. This not only complicates revenue collection, authors said, but also leads to administrative overhead as healthcare organizations spend more resources on appealing and resubmitting claims." #medicalnews https://lnkd.in/gj6qVWEi

♻️ The Future of Revenue-Cycle Management New developments in legislative policies and regulations are shaping the future of revenue-cycle management. With all of these new challenges to look out for, it's important to anticipate future concerns by keeping your healthcare practice adaptable. According to the Healthcare Financial Management Association, here are some notable trends shaping revenue-cycle management in 2025: 🔹 New CPT Codes: Advancements in telehealth demand secure online payment systems and registration. 🔹 Price Transparency: Patients expect clear, up-front cost estimates to build trust. 🔹 Interoperability Standards: Accurate, real-time patient record management is becoming essential. 🔹 No Surprises Act: Protecting patients from unexpected bills and streamlining the billing process. 💡 Need assistance in managing the business side of your private practice? Priority Practice Management is here to rid you of the administrative burden. Learn more ➡️ https://lnkd.in/gpYmTyzz #PrivatePractice #RevenueCycle #HealthcareManagement 📚 Full article: https://lnkd.in/gaYdXFJf

Discover the pivotal role of #medicalclaim clearinghouses in streamlining #healthcarebilling processes. They act as intermediaries, ensuring accurate and efficient transmission of #claims between providers and payers. Learn more from RevCycleIntelligence here: https://lnkd.in/ekbBxdhE #claimsreimbursement #claimsmanagement

📈 Empowering Healthcare Providers: Our Range of Specialized Services! 💼 At FortifyRCM, we're dedicated to supporting healthcare providers in navigating the complexities of medical billing and revenue cycle management. Our comprehensive suite of services is designed to streamline operations and maximize revenue, allowing providers to focus on delivering exceptional patient care. 🔍 Here's a glimpse of what we offer: 1️⃣ Credentialing Assistance: Smoothly navigate the credentialing process and ensure your providers are recognized and accepted by insurance networks. 2️⃣ Claims Submission and Management: From claim submission to follow-up, we handle the entire claims process, maximizing reimbursements and reducing denials. 3️⃣ Revenue Cycle Management: Optimize your revenue cycle with our proactive approach, from patient eligibility verification to payment posting. 4️⃣ Denial Management and Appeals: Expertly manage denials and appeals to recover maximum reimbursements and minimize revenue leakage. 5️⃣ Coding and Compliance: Ensure accurate coding and compliance with industry regulations, reducing the risk of audits and penalties. 6️⃣ Reporting and Analytics: Access comprehensive reporting and analytics to track key performance metrics and make data-driven decisions. Our goal is simple: to empower healthcare providers with the tools and support they need to thrive in today's evolving healthcare landscape. Ready to experience the difference? Partner with FortifyRCM and take your practice to new heights! 💼 #MedicalBillingServices #RevenueCycleManagement #HealthcareEmpowerment #YourMedicalBillingCompany

Revenue leakage in healthcare refers to the loss of revenue due to various inefficiencies, errors, or missed opportunities. Common causes include: 1. *Inaccurate coding and billing* 2. *Unclaimed or denied insurance reimbursements* 3. *Missed charges or undercharging* 4. *Inefficient claims processing* 5. *Lack of price transparency* 6. *Insufficient patient engagement and follow-up* 7. *Inadequate contract management with payers* 8. *Failure to capture ancillary revenues* To address revenue leakage, healthcare organizations can implement: 1. *Regular audits and revenue cycle assessments* 2. *Improved coding and billing practices* 3. *Automated claims processing and tracking* 4. *Enhanced patient engagement and communication* 5. *Contract management and negotiation* 6. *Price transparency and clear billing practices* 7. *Staff training and education on revenue cycle management* #healthcare#business#loss#management

While NPI numbers may seem like a small piece of the complex healthcare puzzle, handling them successfully within claims processing and other cases where identification is needed can empower you to navigate potential obstacles like an expert. Misusing them, however, can create challenges that are easily avoidable. Check out our latest blog to expand your knowledge and boost your confidence when working with NPI’s.   #HealthcareCompliance #HealthcareManagement #HealthcareTechnology #HealthTech

How do #healthcare leaders feel about the state of claims management today? Our latest blog breaks down the findings of the State of Claims 2024 report, including insights into how automated claims #technology is being used (or not!) to optimize the claims process and bring in more revenue: https://lnkd.in/gfPr5WQx #claimsmanagement

Our latest blog explores the top 5 benefits of electronic claims submission, helping you streamline operations, reduce errors, and get paid faster! Check it out and discover how expEDIum is improving healthcare management. 📈✨ 🔗 Read more here - https://lnkd.in/gKkFDMfp #HealthcareIT #ElectronicClaims #HealthcareInnovation #MedicalBilling #Efficiency

The Revenue Impact of Credentialing: Why It Matters More Than You Think Credentialing isn’t just about making sure providers are qualified—it’s also about ensuring your practice gets paid for the services you provide. Credentialing directly impacts your revenue cycle, and any delays or errors can lead to denied claims, delayed payments, and financial headaches for your practice. Here’s how credentialing plays into your revenue: 1. Claims Processing: Insurance payers require that providers are credentialed before they process claims. If a provider isn’t properly credentialed, claims will be denied, resulting in lost revenue. 2. Patient Satisfaction: Delays in credentialing can mean delays in patient care, which can affect patient satisfaction and trust. Patients want to know that they’re being treated by qualified, credentialed providers. 3. Operational Efficiency: Proper credentialing ensures that everything runs smoothly from an operational standpoint. When providers are credentialed correctly, it reduces the administrative burden on your staff and helps keep your revenue cycle on track. Next Up: We’ll discuss common pitfalls in the credentialing process and how to avoid them. #Healthcare #Credentialing #RevenueCycle #PracticeManagement