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5 Culture Mistakes to Avoid in Hospitals
https://www.keybridgemed.com/2022/02/22/5-culture-mistakes-to-avoid-in-hospitals/
From reducing medical errors, staff turnover, or increasing patient collections, there are common areas that hospitals tend to focus on when wanting to reduce errors and improve their bottom line. But one area that is often overlooked is hospital culture. Culture is hard to define but is essentially the collective behavior of your workforce. It is the behavior your hospital…
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How to Tell If You Need a New Revenue Cycle Vendor?
https://www.keybridgemed.com/2022/01/24/how-to-tell-if-you-need-a-new-revenue-cycle-vendor/
Healthcare revenue cycle management is a complex process that involves the management and improvement of all parts of the revenue cycle. Many healthcare providers struggle to find the time to efficiently and accurately manage their own revenue cycle because healthcare revenue cycle management requires a fair amount of training and expertise in the areas of billing and coding. For this…
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Quick Guide- The Guide to Medicaid/Medicare/VA Denials
https://www.keybridgemed.com/2021/12/21/quick-guide-the-guide-to-medicaid-medicare-va-denials/
Claim denials are a common issue that not only complicates your revenue cycle but also negatively impacts the patient experience, which can have lasting repercussions on your medical practice. If your practice serves Medicaid, Medicare, and VA patients, you may need to be prepared for strict rules and regulations. Every year, Medicaid/Medicare denies, loses, or ignores approximately 30% of claims.…
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Is Your Patient Financial Experience Losing You Customers?
https://www.keybridgemed.com/2021/11/22/is-your-patient-financial-experience-losing-you-customers/
Patient financing is a critical part of delivering a positive healthcare experience for customers and is directly linked to retaining their loyalty. Yet, many healthcare organizations don’t measure the impact the financial experience has on customers. The financial experience is the final perception that customers are left with after seeking medical care. This means that even if the patient has…
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5 Questions To Ask Before Outsourcing Your Revenue Cycle Management
https://www.keybridgemed.com/2021/10/25/5-questions-to-ask-before-outsourcing-your-revenue-cycle-management/
As healthcare costs rise, and administrative burdens grow, healthcare providers are increasingly looking to outsource parts of their services to alleviate some of the strain. If your organization is considering outsourcing your revenue cycle management, you’re not alone. By 2023 the outsourced revenue cycle management market is expected to be worth $23 billion. Outsourcing is not just a great solution…
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How Consumers Think About Hospital Debt Collection
https://www.keybridgemed.com/2021/09/20/how-consumers-think-about-hospital-debt-collection/
In 2020, consumer finance company Credit Karma conducted an analysis of 20 million members in the United States. The results showed that Americans owed a total of $45 billion in medical debt — around $2,200 per member surveyed. Hospitalizations were responsible for one-quarter of all the medical debt. Medical debt has been growing since the coronavirus pandemic, during which millions…
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The ROI of Healthcare Culture
https://www.keybridgemed.com/2021/08/20/the-roi-of-healthcare-culture/
Healthcare may be an essential need with a potentially unlimited supply of patients, but the costs of running a medical practice are high and increase rapidly. Whether you operate a private practice or lead a larger group, you need to balance the cost of doing business with delivering high-quality patient care. Making intelligent business decisions to increase your return on…