K-38 Consulting provides outsourced CFO services designed for medical practices aiming for stable and strategic growth. We support practice owners in managing their finances, optimizing cash flow, improving profitability, and gaining clear visibility into the numbers that drive performance.
Our services include financial analysis, strategic planning, cost control, and growth support, equipping practices with the tools they need to make informed decisions. Whether you're looking to expand locations, invest in new technology, or streamline operations, we ensure every move is financially sound.
By bringing clarity to your financial operations and delivering forward-looking insights, we help medical practices scale with control, minimize risk, and build a financially healthy business ready to meet the demands of a changing healthcare landscape.
Strategy for info cleanup in the course of migration. This is the excellent time for you to deal with copy affected person records, update previous addresses, and standardize process codes. Cleanse facts can make The brand new system do the job much better from working day one particular.
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Besides automation, proactive communication with insurance coverage corporations can Enjoy a pivotal position in improving insurance coverage verification.
One of the foundational techniques in bettering revenue cycle administration is optimizing patient ingestion and scheduling processes. Making certain that client information is accurately gathered and confirmed on the outset can avert a lot of downstream billing challenges.
She focuses on coding compliance, statements processing, and revenue optimization. As a outstanding author inside the RCM Room, Susan delivers concise and sensible tips, empowering Increase Medical Practice Revenue healthcare companies to confidently navigate the fiscal aspects of affected individual treatment.
The engineering will only get better. AI devices carry on learning and improving upon, generating billing much more exact and efficient. Early adopters get competitive strengths that compound after a while. Patients more and more hope the ease and transparency that modern day billing devices give.
You may steer clear of the poor revenue cycle management that comes with ready to gather by establishing an easy payment coverage and informing individuals of its terms.
Affected person payment outsourcing enables your inside team to take care of the well timed, elaborate aspects of affected person billing for example appeals and refiling statements even though a vendor’s assets can handle affected individual billing responsibilities such as having affected individual phone calls.
In right now’s promptly switching healthcare landscape, managing your practice’s revenue cycle efficiently is more vital than in the past. With raising reimbursement worries and evolving patient anticipations, adopting strategic solutions to improve collections can noticeably impact your practice’s financial well being.
QR-enabled statements: Mail a personalized Digital or print assertion using a affected individual-certain QR code People can quickly scan the code and produce a payment in seconds.
Except for digital payment choices, you will find numerous other means You may use technological innovation to improve self-pay out and write-up-insurance plan individual payments.
Sixty-7 per cent of billing pros nevertheless invest more than 1 / 4 of their time on repetitive administrative responsibilities. This inefficiency is not only expensive — It is blocking billing corporations from scaling and maximizing revenue prospective.
Build user manuals and rapid reference guides distinct on your practice. Generic seller documentation often isn't going to match your actual workflows. Customise guides to point out your specific processes and treatments.
Healthcare financial pressures have intensified in recent times, with U.S. hospitals going through sizeable margin erosion. As of 2024, initial claim denial costs rose to just about fourteen%, costing hospitals roughly $20 billion per year. With approximately half of these denials preventable, companies Have a very tangible opportunity to improve their fiscal results by refining their revenue cycle procedures.