Revenue management is extremely crucial for all types of business to make sure that the incoming cash is enough to make the payment of the expenditures. Healthcare sectors always give priority to the healthcare of the patients and also safeguard their lives. The revenue cycle management solutions take care of the processing of the claims, reimbursements from insurance providers, and several other essential factors for the smooth delivery of healthcare. The RCM process is a multipurpose method that manages the patient accounts in detail without any hassle. The goal is to develop a process that will help the organizations to get paid the full amount for services as soon as possible.

Revenue cycle steps

It is a multi-step process that results in smooth payments. Here are the steps of the method:

● Verification: The RCM gathers and syncs all the information related to the patient and the administrative staff like insurance verification forms, patient intake forms, etc. Just after a patient has made an appointment, the management makes sure that all the steps are completed accurately.

● Charge capturing: This is the second process where the health experts or care providers transcribe all their services into billable charges. In order to determine the reimbursement amounts, every service offers a universally accepted medical code.

● Claim submission: The RCM makes sure that there is no error in coding or else it can get denied. Now the claim is sent to the insurance company for approval. With the help of the revenue cycle management solutions, the submission happens quickly and the process becomes easier.

● Payment collection: After the claim of the patient has been approved, the provider is reimbursed by the insurance company depending on the eligibility of the patient. All these steps help in collecting the final payment without any delay.

● Medical service review: The provider thoroughly reviews the clinical treatment data so that there is no chance of error. At the same time, it increases the revenue of the providers, enhancing the patient experience.

What are the benefits?

1. Relying on a trusted RCM helps the administration decrease its burden. They need not spend time on investigation and they can utilize the time for patient care.
2. The chances of healthcare fraud become minimized with the help of RCMs. The upcoding process offers a higher reimbursement rate and accurate data collection.
3. The process is straightforward and secure which reduces the hassle of physicians, coding specialists, and administration.

Conclusion

Healthcare revenue cycle management solutions are becoming popular with the passing days. Health professionals need their help to be aware of their revenue cycle so that they can provide appropriate service and get proper reimbursement. Healthcare organizations can’t manage the complete bill payments without the help of this key financial process. There are too many RCMs available in the industry, but choose one who has a long experience in this field with a good reputation. This was all about the role of revenue cycle management in the healthcare sector.

Eugene Bernshtam is a true real estate market expert who has an uncanny ability to predict the housing market’s future. We asked Eugene to share some of his thoughts about the real estate market in the year 2022. His insights are very interesting and may turn out to be on point with reality.

1) First-time buyers of properties under 100K

This is the right way forward for the housing market. Many first-time buyers, millennials, and Gen Y kids will significantly impact the real estate scene in 2022. They will be ready to buy properties costing less than 100K. This is a great sign for any economy as this generation will start taking its own decisions from then onwards, including buying homes of their own. All signs point to the fact that there will be no shortage of demand for low-cost homes in 2022, which is also expected to drive up housing prices beyond $200K. So 2020 is looking very bright indeed!

2) Millennials and Gen Y kids are future real estate moguls

The Millennials and Gen Y kids are expected to contribute significantly to the real estate market by 2022. These kids are tech-savvy, and it is assumed that they will take to online platforms for investing in real estate. The rise in their disposable income in the next few years will help create a huge number of demand-side (buyers) forces, which will improve liquidity in this sector. Money invested in real estate can be minted back as rent, with an expected rental market growth by 2022.

It is also assumed that various developers will offer liberal discounts to woo these early buyers in this decade. As a result, these new homeowners will help promote social mobility and contribute positively to the economy as a whole, including creating job opportunities for others.

3) Millennials and students will be looking to buy properties

According to various surveys carried out in the past few years, it is believed that the Millennials and Gen Y kids are going to be ready and willing buyers for properties costing $300K or more by 2022. This demand-side force will also push up prices beyond $300K as there won’t be a shortage of buyers. In addition, banks and financial institutions will also approve loans for such expensive properties as the assets have a tangible value that can be used as collateral by the lenders.

4) Real Estate prices going up to $300K?

The government is promoting the real estate sector under the ‘Housing For All initiative. It is expected that the prices of properties will go up to $300K due to such efforts. Continued progress across various cities under this initiative and support from other financial institutions and banks is expected to push real estate prices up by 2022.

5) Non-residential real estate is also on track for growth

The commercial and non-residential real estate market is also expected to grow in the next five years. There will be a huge demand side (buyers) force for such properties as there will be an increase in business activities and employment opportunities at that time, which will boost their prices into the stratosphere.

 

 

No matter the industry, when you have a business you want to keep it competitive. Your competition can’t get all the business, so it’s important not to lose your edge in the industry.

There are things you can do within your operation to maintain a strong competition with your rivals. Take a few moments now to explore your options. Here is a brief breakdown of a few ways to keep your business competitive.

Always have the best tools for the job

You can’t compete with other businesses in your industry if you don’t have the best tools to use. Find the best industry-specific gear, and give your operation top notch materials with which to work.

If you operate in shoe sales, make sure your store has the most popular shoes on the shelf. If you operate in the oil and gas industry, make sure the materials your employees work with are top of the line in safety and quality. Working with good materials gives your business a leg up against the competition.

Know what the competition is doing

You can gain more of a competitive edge when you know what your competition is doing. Work to keep tabs on how the competition is drawing in consumers. Use their successful tactics to build your own unique methods of drawing business.

Dig into the specific strengths and weaknesses of your direct competition, and use that knowledge to your advantage. Learn from the mistakes of your competition, and avoid running into the same snags along the way.

Get to know your customers better

Never lose your connection with your customer base. It’s up to you to understand what customers really want and need from your business, and that takes a little research.

Always stay in tune with what customers think matters most about their experience. It will change frequently, so it’s wise to nurture an ongoing connection with consumers.

Step up your marketing efforts

Marketing is a tool that you can make the most of or let it fall to the wayside. Your business will likely make money either way, but you’ll be far more successful when you keep your marketing efforts fresh and engaging.

Focus most of your marketing efforts on digital platforms. Social media marketing, website marketing, and email marketing are all very powerful tools if you work to make the most of them.

Make sure to keep your website updated

Your business website is ground zero for online interests, so you have to keep your pages up to date with all the newest information regarding your operation and your products or services. People will check your website for key information before moving any further with a purchase, so don’t let them down.

 

You could be carrying out work in your facility when all of a sudden there is a leakage that needs immediate attention and you could be bothered about how to get in touch with a company that can fix it quickly. And if there is one thing common with industrial facilities is the fact that problems can spring up at any minute. While you could be prepared for the worst-case scenario, in the event of a leak, you want to act quickly.

Not sure how to locate the nearest pipeline leak repair company that can come to your rescue immediately? You will find suggestions of the best guys to call when you need urgent repairs on your pipeline installations as you read on.

How to Fix Pipeline Leaks?

Even with a standby maintenance crew on your payroll, there is not much that can be done when your pipes begin to leak and you run out of options on how to remedy the situation. The best option, in this case, will be to get in touch with experts. And you could run out of ideas who to call when things get out of hand. When it comes to fixing issues that turn up in an industrial plant, urgency is paramount and you will be doing yourself and installations a whole lot of good if you can get it handled immediately.

It could be a lot worse if you are working on the high sea, miles away from land, and emergency response and having to wait hours for a positive solution could cost you millions. But the best pipeline intervention services know how badly you will be affected if they don’t get there in time. And the best you can do is to find a professional service that can meet up with the demands of arriving promptly. While it is your responsibility to find the best hands that can help with repairs and maintenance at your pipeline installation, it could be an easy task if you know where to find help.

Identifying the Leak Point

The first thing your maintenance crew should do will be to identify the point of leakage. To do this, you will need to close the channel to stop the further spill on your floor. Once you can prevent further spillage, it can be easy to detect where the leak is coming from which will enable you to act on it.

In the case of a free line that comes directly from the source, you will need to either close the valve or construct a stopper around the neck of the pipe. You can also make use of wrapping to limit the spill on the floor if there is nothing that can be done to stop the flow from the source.

But you should know that any method you chose to put a temporary stop to the leakage will possibly affect your plant operation. And rather than hoping on your team to work out a miracle, you want to get on the line with a pipeline repair expert so they can get started on arriving quickly.

Diagnosing the Cause of the Leakage

This will be the first thing that will be done when the experts arrive. And you may be lucky to have a quick remedy that can enable you to continue work while the affected parts are replaced. Many of the best pipeline repair services are skilled with installing a new section that can allow you to continue your operation while they carry out repairs.

If you can provide enough information on the nature of the problem, there is a good chance they can arrive with parts that can be replaced without wasting any more time. As already mentioned, you will be better off getting the right repair company to come work on your pipes rather than leaving them for your maintenance crew to handle. But there is a good chance that they can provide temporary assistance before the experts arrive. So anything that can be done in the meantime is entirely welcomed.

How to Locate the Nearest Pipeline Repair Company?

As soon as you encounter a problem on-site, you don’t want to waste time pondering over what needs to be done. As the manager of the plant, you will be under a lot of pressure to make amends and will surely be looking for ideas from anyone that can offer suggestions. Someone on your maintenance crew may just have contacts with someone that you can get in touch with, you want to consider the best options available to you.

One way to avoid any more time-wasting could be to get in touch with companies that operate in the same industry as you. While you obviously will not be looking to share your plant secrets with the competition, you can find them useful when it comes to referring you to reliable help. So it could be a good idea to give them a call if you have direct contact with other companies in your industry. This website shares tips on how to work with the competition when the need arises.

You can also locate a pipeline repair company not too far from your plant if you search the web. The internet is flooded with the profile of companies that offers services to major industries and you can find one willing to assist you with your pipeline needs. While it is understandable that you may be in dire need to help, you don’t want to rush at just any company you find online. Do well to read their profile to be sure of the services they render and check out what their review section has to say about the nature of work they provide.

Final Note

Running a pipeline installation isn’t a walk in the park as there are challenges you will have to deal with each passing day. Keeping the plant running will need you to be on constant alert and in the case, there is a problem at the site, you don’t want to hesitate to make repairs.

Get online and search for pipeline repair companies that can come to your aid and you want to ask for input from your team members if you run out of ideas. Remember it is a collective effort to keep the business running and you don’t want to carry the burden alone even though it is your responsibility to make decisions.

Northwestern Polytechnic University President Peter Hsieh discusses the unique needs of a Silicon Valley workforce and how his school is helping to fill those gaps in an evolving education landscape.

“We serve students who are looking to take their career or transfer into four-year universities, and we focus on business, engineering, and computer science,” said Hsieh. “A lot of students come from different backgrounds, so we focus on science, technology, engineering, and math courses to enhance their transferability to universities.”

Northwestern Polytechnic University is a STEM-focused university in Fremont, California, with an enrollment of more than 1,700. The school offers bachelor’s degree programs in computer science and software engineering and associate-level degrees in engineering, business, and information technology.

“What is different about us is that we have a Silicon Valley focus,” said Hsieh. “The university works with companies in the area, so students are learning the skills they need to excel at these companies.”

Hsieh says Northwestern Polytechnic University has developed close ties with Silicon Valley tech giants such as Facebook, Nvidia, and many of the engineering departments of more than half of Fortune 100 companies.

As a result, Northwestern Polytechnic University can help students prepare for careers in some of today’s most dynamic industries. Those industries include big data, cloud computing, healthcare IT, and cyber security.

“We are constantly expanding our curriculum to build bridges with Silicon Valley companies,” said Hsieh. “This way, we can help students prepare for jobs in the industry.”

He went on to say that Northwestern Polytechnic University always has a steady supply of jobs on-campus and graduates who are ready to work in an evolving job market.

“All you need is to be open-minded and willing to learn,” said Hsieh. “Our unique focus prepares students for these types of opportunities, and we feel that the demand will continue to increase in the years to come.”

“In addition, we have a robust alumni network across the entire country, so if students want to take their career to another state or even another country, they will have an extra support system in place.”

He added that Northwestern Polytechnic University had expanded its reach into international markets by working with other educational institutions and universities.

“We also have students study abroad in countries such as Italy, China, and France,” said Hsieh. “This offers students a global perspective that we feel is necessary to be competitive in today’s workforce.”

Hsieh concluded by saying that Northwestern Polytechnic University has made strides to keep pace with the demands of hiring companies in the area by revamping its course curricula and partnering with industry leaders.

“We’ve always had a strong focus on technology,” said Hsieh. “Some of our new courses include digital animation, cyber security, and mobile application development.”

He went on to say that Northwestern Polytechnic University is especially excited about its growing co-op program with companies in the Bay Area.

“The whole basis of our school is to provide students with an education that is relevant to future career opportunities,” said Hsieh. “We offer small class sizes and instructors who are professionals working in the industry.”

 

Josh Melick is a serial entrepreneur, having helped launch multiple successful companies. His last startup was Broadly, a local small business marketing platform that lets customers communicate with their customers through automated messaging, uncovering new ways to manage customer marketing and effectively measure ROI.

We asked Josh about the key people and positions every new business must have to get off the ground and succeed.

What should a new company do before hiring?

Josh says, “Hire an employment attorney to draft your offer letter and ensure that you protect yourself against future litigation. A typical contract for someone with duties like marketing or sales will be longer than this person’s (and their own attorney’s) attention span. That spell check button is your friend.”

Do you need a CTO? Is it someone in the company, or should this person be brought in from the outside?

Josh says, “Ideally, an early hire would have both skillsets – development and product management. However, you don’t want to burn through three engineers before landing one who can effectively manage the product and business objectives. Early on, I found senior engineers who were still green but had strong work ethics and self-management skills to be more valuable than experienced duds.”

The first hire I made at my first company was an intern from Stanford University. He was an intelligent guy, came very cheap (read: free), and had a strong work ethic. In his first few weeks, he taught himself the product inside out. He recommended small changes that would have been easy for an engineer to implement but also ended up being critical features of our future product lines. I made him a full-time offer after the internship was over.”

What should be a company’s top priority?

“Proactively vet potential hires. Talk with their previous managers and, if possible, find a reference that is not related to them directly. Make this person’s phone number available, and you’ll often get very detailed feedback.”

What should go into creating an effective job description?

Josh says, “I think it depends on who you want to hire. For an early-stage startup, you’re not going to attract candidates with years of experience in your space. So be honest about the challenges and opportunities that come with being part of a new company, but emphasize the opportunity for growth.”

What are some common pitfalls companies often face when hiring?

Josh says, “The worst thing a company can do is to hire someone and then never check upon them. If you’re not going to talk to your hires regularly, your company’s culture will die a slow death.”

What should companies work on when hiring salespeople?

Josh says, “In the B2B world, sales teams are typically broken into three buckets: inside sales, mid-funnel salespeople, and account executives.

Inside sales are focused on closing small deals (i.e., less than $10k) with scalable assets like email lists or access to CRMs. The advantage of inside sales is they can close more deals over time (making the economics work), but the disadvantage is that it’s tough to track success. The best inside sales reps can close $100k+ in ARR for a SaaS company, but they’re also the hardest to find.”

The mid-funnel salesperson is focused on closing larger deals that are not self-serve, using phone calls and email. The report into mid-funnel sales management. Their goal is to get prospects to the next step, whether that is a trial or a meeting with an account executive.”

“Account executives are focused on closing deals that require more human touchpoints, usually over phone calls and in person. The report into account executive management and their job is to deploy mid-funnel salespeople and close the deal. Most account executives manage $1m+ in ARR.”