Revenue Cycle Management

Posted February 7, 2023 by medicd

Medical billing, coding & credentialing services Revenue Cycle Management by MedICD are not just another billing solution to outsource medical billing and transcribe patient data into billing codes.

US healthcare is operating on an excellent performance by rendering services of their practicing providers in an extensive healthcare system. Therefore, CMS has devised several modules to not only maintain their tradition of trust in healthcare services but also introduced several laws and systems to support their providers in every possible way.

wRVU calc is such an initiative by CMS to give the providers their RVU compensation based on the service they cater to their patients. wRVUs basically measures the work volume and time investment in facilitating patients. Medical Billing, health insurers, or patients file claims to aid in the reimbursement process in the healthcare industry.

RVUs, an acronym for relative value units, is a requirement for this reimbursement. The payments from Medicaid, Medicare, and private health insurance depend on it as well.

Billing departments in every hospital or healthcare organization make the bill and coders then generate the claim by coding the fee for service rendered using HCPCS / CPT codes.

Once the hospital receives the reimbursement successfully either from a patient out from their medical insurance provider, then they have to pay their providers. They do so by calculating RVUs.

You might be thinking how wRVU calc is benefiting in provider reimbursements. And what is the procedure for calculating RVUs and wRVU compensation of any provider? Let’s see it in depth for more understanding.

What the Heck wRVU calc is?
An easy and simple way of finding out the cost of care and services rendered by providers is by using these precise sorts of units that are used by Medicare to calculate the cost of care. The abbreviation RVU stands for Relative Value Units in the context of medical billing. wRVUs are in fact, standardized units which make it simple for hospitals to pay physicians based on the services they offer and their productivity.

What was the Ground for wRVU inclusion?
Thanks to these standard units, called RVUs allowing remuneration to be determined based on the services rendered. Mainly, the competence and performance of a doctor are assessed by calculating RVUs. It also aids in understanding the scope of the effort a doctor has performed for their patients in the name of medical treatment.
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Last Updated February 7, 2023