Looking at GI Practice Management Differently: Fortify the Business of Healthcare in the GI Practice (On-Demand)

Video Transcription

Video Summary

In this video, the speaker discusses revenue cycle management in the healthcare industry. They explain that revenue cycle management includes all administrative and clinical functions involved in capturing, managing, and collecting patient service revenue. The speaker emphasizes the importance of checking insurance eligibility and cost estimation prior to providing services, as this is a significant factor in claims denial. They recommend checking insurance eligibility every time a patient comes in for an appointment and training front office staff to handle this responsibility. The video also covers financial key performance indicators (KPIs) that can help improve the revenue cycle, such as accounts receivable over 120 days, reimbursement rates, and first pass denial rates. The speaker highlights the impact of COVID-19 on revenue cycle management, including challenges and opportunities for improvement. They mention the use of automation and technology in streamlining processes and improving patient satisfaction. The video concludes with future trends in revenue cycle management, such as online appointment scheduling, price transparency, and automation in claim submission and denial management. No credits are mentioned.

Asset Subtitle

Sufiyan H. Chaudhry, MD, MBA

Keywords

revenue cycle management

healthcare industry

claims denial

automation

patient satisfaction

financial KPIs