TAM Medical Billing and Revenue Cycle Management Services
Comprehensive Practice and Revenue Cycle Management Services
Service Excellence, Expertise, Solutions, Results!
Resources and Insights
REVENUE CYCLE BEST PRACTICES
Key Performance Measures
What is Healthcare Revenue Cycle Management?
What is Healthcare Revenue Cycle Management?
Revenue cycle management is the process used by provider practices to track revenue from patients from their initial appointment or encounter to payment of their balance.
Revenue cycle starts with the appointment or visit and ends when the provider gets paid fully for the services provided.
The seven steps of revenue cycle include preregistration, registration, charge capture, claim submission, remittance processing, insurance follow-up and patient collections. Understanding each of these steps, what’s entailed in them, what can go wrong within the revenue cycle process, and staff training are critical to prevent missteps.
Our RCM Specialist are highly experienced and experts in RCM process improvement. We can analyze your RCM processes and identify bottle necks that are causing payment delays, lower reimbursements, denials and timely filing rejections, ultimately affecting the financial health of your practice.
Guide to HIPAA
MEDICAL RESOURCES:
A GUIDE TO HIPAA
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HIPAA refers to the Health Insurance Portability and Accountability Act. The U.S. Office of Civil Rights oversees this act, which was first instituted in 1996, to closely guard and monitor access to confidential medical information that, if made public, can reveal or hint at the identity of the patient. HIPAA protects the privacy of citizens and strives to guarantee that confidentiality of medical data is maintained. Those who violate patient privacy by ignoring HIPAA guidelines can reap criminal charges.
HIPAA protects patients by focusing on three key areas: privacy guarantees, security measures, and flexible insurance. Portable insurance is one of major boons of HIPAA. It makes it possible for people who leave or lose a job to continue coverage for their families. In terms of security, HIPAA has made it illegal for even casual references to medical tests, results, doctor’s visits, and bills to be made to people who by law are not required to know the information. This means patients can worry less about having personal files left in public view or in a copy machine; they can also worry less about a doctor, nurse, or medical secretary sharing tidbits of their visit.
Companies are required to have adequate security of both electronic and hard copy files. HIPAA requires companies to employ compliance officers to regularly study whether patients or consumers are really being protected. Penalties are stiff for those who try to skirt HIPAA rules. They can face huge monetary penalties or even jail time. Follow the link for more information on HIPAA Laws
https://www.hhs.gov/hipaa/for-professionals/index.htm
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