Is your practice struggling to collect payments? Are your accounts receivable growing rapidly? Is there a drain on your bottom line? The culprit could lie in your revenue cycle management.
From the moment your patient walks out the door, the likelihood of collecting the full balance due drops 20 percent; after 90 days, that decreases to 11 percent. Regularly reviewing your accounts receivable reports in detail is a good way to take stock of your practice’s collections efforts. Proper billing processes can help you improve staff efficiency and collections rates, and can put cash back in your practice’s pocket.
The Texas Medical Association’s practice management consultants can perform an in-depth review of your billing processes through a Revenue Cycle Assessment, and pinpoint any areas where you may be leaking revenue.
Additionally, up to 20 AMA PRA Category, 1 Credits™ per physician can be earned when TMA performs an Operations or Revenue Cycle Assessment for your practice. Contact TMA Practice Consulting at (800) 523-8776, or email to schedule your own assessment today.
Want to learn even more? Thanks to a generous sponsorship from TMA Insurance Trust, TMA members can access Revenue Cycle Management: Keys to Success (3.25 AMA PRA Category 1 Credits™) for free. Learn how to apply and train staff on the best practices for billing and collections to maximize operational efficiency and profitability.
Last Updated On
September 12, 2018