Physician practice and hospital revenue cycle drivers: what's the difference?
There are two key differences between hospitals and physician practices in revenue cycle management: unit of work and its value, and per unit cost to collect. Reducing a physician practice's cost to collect requires, first and foremost, the right technology and functionality and the right staff. Three advanced collections techniques-denials management, contract compliance, and fee schedule management and maintenance-should be examined for their potential value in ensuring that an owned practice is paid correctly for every service.
Boggs
Shelby L
SL
NextGen Practice Solutions, Hunt Valley, MD, USA. sboggs@nextgen.com
D000067:Accounts Payable and Receivable; D003284:Contract Services / Q000191:economics; D004469:Economics, Hospital; D005245:Fee Schedules; D005377:Financial Management, Hospital; D006801:Humans; D011331:Private Practice / Q000191:economics*; D012456:Salaries and Fringe Benefits / Q000191:economics