How to optimize revenue in wound care?
A Chinese philosopher, Lao-Tzu, is given credit for the quote ‘A journey of 1000 miles begins with a single step’, or simply put, a change in revenue optimization begins with you—the single step—accepting that the status quo must go. Before learning more about ways to increase wound care revenue let us first take a brief look at insurance systems and payments in America. Basic overview of insurance systems and payments in America In general, medical/health insurance coverage is provided by insurance providers such as Humana, United Healthcare and Aetna. Individuals aged 65 years and older have their health insurance covered by the Centers for Medicare and Medicaid Services (CMS) through Medicare. Medicaid helps with medical costs for some people with limited income. There are Medicare Administrative Contractors (MACs) that process claims for Medicare Part A, Part B, Home Health and Hospice and Durable Medical Equipment, Prosthetics, Orthotics and Supplies (DMEPOS) claims. Most CM