Managing revenue is critical to the financial health of the medical practice, and is a job which has become enormously complicated. Engagements typically begin with a diagnosis of the problem areas. Potential solutions include policy and procedure development of items in the revenue cycle which includes accurate patient registration, proper coding and documentation, using electronic billing whenever possible, and implementing effective reporting and follow-up.

Practices consistently request assistance in the area of Billing and coding. While billing and coding are common problem areas, the best financial results are only possible with attention to the entire revenue cycle. Very often it is the initial steps taken with the first patient encounter which prove to be important to avoid later problems. An effective financial policy, agreed in writing by the patient, is the foundation. Securing accurate information at the beginning of the patient relationship and having reinforced the financial policy with conversation by the staff will allow for accurate billing to the proper 3rd party payer.

Other problem areas arise from the mechanics of billing, with attention to the different requirements of every 3rd party payer. Effective use of computer systems plays a vital role in this process. COEMR can help with your staff training and in developing a a continuing education program to keep your staff up-to-speed on the constantly changing billing procedures.