5 MORE Tips for a Robust Revenue Cycle Management System

In my last video, I went over 5 tips for a robust revenue cycle management system in behavioral health. If you’d like to take a look at that video before watching this one, I’ll link it below. But for now, let’s get into 5 more tips you should know for identifying, collecting, and managing your revenue in the behavioral health space.
1. Internal Claim Review
Before submitting your claims, make sure to engage in a thorough internal review. This way, you are less likely to deal with any long denial processing in the future. Not to mention, costly consequences.
Remember that there is a technology that is specifically meant to help with this process, such as Electronic Health Records. This way, you can scrub claims for any mistakes before sending them to the payer, reducing the likelihood of a claim denial.
2. Collection
Have a game plan when it comes to gathering patient collections. Sure, much of your reimbursement comes from your payers, but don’t neglect the percentage that comes from patients.
Sending out bills through the mail is a good method of asking for payments. However, many patients use technology such as computers and phones. According to a 2024 healthcare payment trends report, 75% of patients want to pay their bills online.
3. Reporting
Although it might seem unimportant, keep an eye on how you report the results of your claims. Just because you have successfully decreased the amount of claim denials, doesn't mean you don’t need to pay attention to the accepted ones! Make sure to utilize an EHR system to streamline this task.
If the payers approve your claim, you want to make sure you receive all of your payments’ full detailed reports. And of course, denied claims must be quickly looked over and fixed for resubmission. Don’t lose track of what claims need attention during busy times of the month.
4. Appealing Claim Denials
Appealing claim denials can be difficult, but not impossible. To complete your reimbursement, you’re going to need to write a strong appeal letter. Sending one of these to the insurance company that denied your claim is the first step. Include all updated correct information as well as any additional details that might be helpful.
You may also want to include a section indicating why you think they are wrong if the situation calls for it. Finally, include any details of the treatment and diagnosis to explain why the charges are necessary.
5. Patient-Centric Communication
Making sure you’re clear about your billing process with your patients will make things easier for everyone. Trust me, no one likes miscommunication, especially when you involve other people’s money.
Include information about your financial obligations and any assistance programs you work with. Doing all of these things is an easy way to boost patient satisfaction and retention.
A good relationship with your clients may mean fewer payment delays and less of a burden on your team to follow up on overdue payments.
These tailored strategies can be personalized to your business, depending on what you are looking for. Just be sure to invest in staff training to build that strong foundation of support, and from there adjust and add tools as you wish!
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