Revenue Cycle Management (RCM) is a critical aspect of a healthcare organization’s financial success, ensuring seamless and efficient coding, billing, and claim tracking. Traditional RCM practices have often been marred by complexities, leading to revenue leakage, claim denials, and administrative inefficiencies. However, the integration of Artificial Intelligence (AI) and Machine Read more…
The new AI powered chatbot – ChatGPT has taken the world by storm with its text generating abilities. It can assist in a range of tasks such as writing reports, drafting letters and essays, and aiding in other processes. Utilizing ChatGPT can benefit multiple industries including organizations in the healthcare Read more…
We are happy to be a part of the Solutions Summit 2023, an initiative of Emergency Department Practice Management Association (EDPMA) Leave Nothing to Chance – Engage, Execute, Excel. In frame: Dhruba Chakravarty (our General Manager), Rathi Dasgupta (our Sales Consultant), and a few Data-Core employees at the Bellagio Hotel Read more…
Practices in the healthcare industry operate using Revenue Cycle Management in order to remain viable. The billing process includes verifying insurance, entering patient demographics into records, specifying charge entries, submitting claims, awaiting payment posting, conducting follow-ups to secure payments, managing denials, and completing reports. These tasks are time-consuming and tedious. Read more…
Covid-19 has had severe economic impacts on the healthcare industry and has affected the financial stability of patients. Ultimately, revenue cycle management has also been impacted by the pandemic. However, medical practices are implementing Artificial Intelligence and Machine Learning tools to improve RCM operations Predictive Analytics Developing new software has Read more…
Over the past decade, health care systems and hospitals have adopted digital technologies in different business and functional areas. Digital transformation can be viewed as a modern approach to delivering care to meet the well-being requirements of the consumers while also refining the existing processes. The US Healthcare market is Read more…
Paper forms are becoming less useful as the world becomes more digitized. But some organizations, especially in the healthcare industry, continue to deal with paper documents. The process to digitize these forms can be tedious and time-consuming. However, streamlining processes through automation saves both time and money. Client’s Need A Read more…
Many hospitals will see negative operating margins despite the best-case scenario of smooth vaccine rollouts and reduced COVID-19 hospitalizations according to a Kaufman, Hall & Associates, LLC report released by the American Hospital Association (AHA). 39% of hospitals will operate “in the red in 2021,” the report claims. This year, Read more…
Providers have reported a surge in claim denials and reimbursement delays. According to a study by the American Hospital Association (AHA), 91% of interviewed providers indicate experiencing an increase in denials. Over half (51%) of those providers deemed the increase as “significant”. While claim denials are not a new stressor, Read more…
Payment for healthcare services can be the responsibility of providers, insurance payors, the government, or the patient. Increased patient responsibility has caused a rise in financial stress for healthcare organizations. Some aspects of patient responsibility that affect the reimbursement for providers include what the patients do not know about receiving Read more…