25 Must-Ask Questions for Radiology Revenue Cycle Optimization
Radiology practices face unique RCM challenges, including declining reimbursements, increasing workload demands, and compliance risks.
Patrick Free, Senior Vice President of Physician Operations at Coronis Health, shares insights on optimizing revenue cycles by identifying inefficiencies, mitigating financial leakage, and ensuring compliance.
The article highlights key operational risks such as improper coding, poor denial management, and misconfigured RCM systems that lead to lost revenue. Patrick Free provides real-world examples of financial mismanagement and a structured approach to evaluating RCM performance.
At the core of the article is a list of 25 essential questions radiology leaders should ask to assess revenue cycle performance. These cover:
- Performance Benchmarks – Evaluating denial rates, collections, and financial oversight.
- In-House vs. Outsourced Billing – Measuring RCM team and vendor effectiveness.
- Financial Leakage – Identifying revenue loss through poor demographic verification and coding errors.
- Contract Compliance – Ensuring payers adhere to reimbursement agreements.
- Risk Management – Addressing compliance risks and claim accuracy.
The article emphasizes the need for proactive oversight. With the right questions and processes, radiology groups can improve financial performance, reduce risks, and secure long-term revenue stability.
Key Takeaways:
- Proactive RCM Oversight is Critical: Even with outsourced billing, regular audits ensure accuracy, compliance, and financial success.
- Financial Leakage Can Be Avoided: Revenue losses from incomplete reconciliation and denials are preventable with proper tracking.
- The Right Questions Drive Better Outcomes: Assessing benchmarks, contract compliance, and financial risks can significantly impact profitability.
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