Don't forget this important step in your practice's medical billing cycle

More than half of U.S. medical practices saw a decrease in revenues of 25% or more in 2020, as patient volume for basic medical care dwindled and costs rose because of COVID-19. In fact, one in five practices experienced drops of 50% or more, severely impacting their long-term viability, unless dramatic action was taken.

As pandemic-related restrictions have eased and more individuals are now seeking care that was once put off, practices are seeing patient volumes rebound -- whether via in-person appointments or through virtual care offerings. Even still, it’s critical for practices to look at how to further stabilize their cash flow and grow revenue beyond pre-pandemic levels. Rapidly growing the patient base or placing freezes on hiring aren’t the only methods of saving cash flow that should be leveraged. Rather, practices must put greater focus on RCM.

Read on physicianspractice.com