Back to Basics: The Front End of Revenue Cycle

It’s hard to believe but 2017 is very nearly here.  At this busy time of year, many of us make some time for reflection on the past year.  What were your successes?  Where did you identify some learning opportunities and things upon which you can improve?  When it comes to reflecting on your practice experience over the past year, what stands out as things you wish to improve upon in the coming year?

Your revenue cycle has some of the greatest impact on the successes and challenges your practice may face.  We wanted to take this opportunity to go “back to basics” with revenue cycle.  Here are some things to consider as you plan for next year.  Next week we’ll focus on the back end of the revenue cycle.  This week, we’re focusing on the front end.  Are you doing these things in your practice when it comes to the front end of revenue cycle?

Revenue Cycle Front End Basics:

•  Comprehensive registration forms including all elements necessary for submitting claims

• Verification of insurance benefits for every patient prior to their visit (ideally 48 hours prior)

• Appropriate, timely, and proactive follow-up for scheduling subsequent patient visits

• Detailed communication to registration and front desk staff of insurances, including specific plan detail, with which your practice is contracted

• Consistent collection of balances owed at time of service – copays as well as any outstanding balance