Managing revenue in an eye care practice isn’t just about sending bills and collecting payments. It’s about making sure every step—from verifying insurance to following up on denials—is smooth, efficient, and error-free. When that happens, your practice doesn’t just get paid faster—it runs better, delivers better care, and grows stronger.

So, what are some ways to improve financial performance and revenue cycle management? Let’s walk through the essentials—no jargon, no fluff, just smart strategies you can start applying today.

1. Start with Credentialing

Think of provider credentialing as the first domino in your payment process. If it falls smoothly, everything else follows. But a small error—like a missed document or outdated info—can lead to costly delays. Since credentialing typically requires 60 to 120 days, make a strategy, go over the criteria for each insurance carrier, and maintain professionalism. Better yet, consider outsourcing this task to experts who know how to get it right the first time.

2. Don’t Skip Insurance Eligibility Checks

Too many practices jump straight into care delivery, assuming coverage is in place. But guess what? Even one unsuccessful eligibility assessment might lead to unpaid bills, denied claims, and dissatisfied clients. A quick verification before the appointment helps you confirm the plan, co-pay, and coverage limits. It serves as one of the simplest methods to maintain both your outstanding authorization rate and your income stream.

3. Get Charge Entry Right the First Time

Charge entry is where revenue either starts to flow—or starts to falter. Rejections may result from insufficient changes, inconsistent methods, or technical flaws. Make sure diagnosis and procedure codes are accurately entered before a claim ever leaves your system. The more precise you are at this stage, the fewer headaches you’ll face later.

4. Stay Ahead of Billing and Coding Changes

Billing codes and healthcare regulations change constantly. Keeping up feels like a full-time job—and for certified coders, it is. When you’re focused on patient care, you don’t have the time to chase every update. That’s why partnering with a billing team that tracks these changes and codes claims within 1–2 days can be a game-changer for your practice.

5. Send Clean Claims

The key to faster payments? Clean claims. That means no typos, no missing information, no invalid codes. The Clean Claim Rate of companies that regularly file proper claims is usually higher than 95%. That’s where you want to be. Review claims before submitting them, or work with a team that ensures they’re clean and compliant before they go out the door.

6. Use Clearinghouses Effectively

Clearinghouses streamline electronic submissions and reduce errors, but they don’t replace full RCM services. Think of them as highways for your claims—not the drivers. For best results, choose one that integrates with your practice management software and allows for easy claim tracking and real-time edits.

7. Post Payments Promptly

Posting insurance payments daily is a small action with a big impact. It helps you reconcile accounts faster, catch underpayments, and push through secondary claims without delay. If you fall behind here, it affects everything from collections to patient statements. Aim to post within 24–48 hours of receiving the remit, and analyze EOBs for accuracy before closing out.

8. File Secondary Claims Without Delay

Secondary claims can easily slip through the cracks—especially if your billing cycle is already stretched. But insurers often have strict timeframes for filing. Miss the window, and you’re stuck. Automating this process or assigning it to an experienced billing partner helps ensure these claims are filed quickly and accurately.

9. Rework Denials

Around 85% of claim denials are preventable. Even more frustrating? Over half of them are never reworked. That’s lost revenue sitting on the table. Make it a habit to track every rejection, investigate the reason, and correct and resubmit within the insurer’s timeline. This one step alone can significantly boost your collections.

10. Tidy Up Your Accounts Receivable

Got a growing stack of aging claims? It’s time to clean house. Daily AR reviews help you spot trends, follow up on outstanding balances, and prevent claims from going stale. Use metrics like “Days in AR” and “Net Collection Rate” to evaluate performance. If your collections seem off despite timely claims, dig deeper—it could signal a systemic issue.

Conclusion

Improving revenue cycle management is more than simply increasing revenues; it is also about achieving peace of mind and stable operation. When your billing processes run smoothly, you have more time for patients, less stress for staff, and better financial health for your practice. Whether you’re looking to outsource or just improve your internal workflow, start by fixing the weakest link in your RCM chain—and the rest will follow.

Better cash flow isn’t a mystery. It’s a matter of tightening your process, removing roadblocks, and being proactive at every step.