Revenue Cycle Management – prescription for optimum medical claim realization
“Despite such volatile environment, physicians have to find means to realize their each and every dollar owed them as their very sustenance and growth hinges on efficient reimbursement of medical bills”
Unlike other professional services that realize their professional fees instantly, without having to rely on a third party (insurance carriers), physicians have to go through an intricate process to realize their fees for medical services rendered. And, with every citizen resorting to healthcare insurance, the physicians will have no recourse but to realize their claims through insurance carriers alone. But, the prevalence of complex regulations, multiple payers, and stringent reimbursement environment have altogether made their task even harder. Despite such volatile environment, physicians have to find means to realize their each and every dollar owed them as their very sustenance and growth hinges on efficient reimbursement of medical bills.
As physicians find the intricate process involved in revenue reimbursement too hot to handle, there is growing inclination to outsource solutions under the umbrella name, ‘Revenue Cycle Management’, a comprehensive procedure – Patient Enrollment, Insurance Enrollment, Scheduling, Insurance Verification, Insurance Authorizations, Charge Entry, Coding, Billing and Reconciling of Accounts, Denial Management, Appeals, and Physician Credentialing – for optimum realization medical claims from insurance carriers. While market is replete with numerous Revenue Cycle Management providers, physician practices would do well to source those that devise integrated approach: advising on internal adequacies (both human and technology), seamlessly integrating RCM process with compliant norms (coding and reporting) and technology interface (billing and coding software), and recommending innovative business models that are more efficient, scalable and flexible.
Having been a niche Revenue Cycle Management service provider for small and large practices alike, Medicalbillersandcoders.com has a unique Revenue Cycle Management capable of custom-delivering optimum reimbursement of their clients’ medical claims at incredibly less turnaround time (TAT).
Features of Medicalbillersandcoders.Com’s Revenue Cycle Management (RCM)
- Improving Patient Experience: Our transformational solutions that improve efficiency of patient-facing functions help in enhancing the ease with which patients can be enrolled and treated at your facilities.
- Technology Interface: Infusing technology, both at clients’ facilities as well as centralized control, ensures fast, reliable and efficient functioning of RCM for our clients.
- Regulatory Compliance for Reimbursement: Our proactive outlook to updating competence in congruence with evolving Regulatory Compliance (ICD-10 and HIPAA 5010) mitigates the probability of undesirable delay, denial, resubmission, or audit issues on clients claim sheets.
Therefore, our unique Revenue Cycle Management – enriched with end-to-end revenue cycle transformation, improved patient experience, integrity in charge capture, billing and coding, proven operating models, enabling self-pay collection through better analysis and management practices, and inspiring your staff with innovative training models – should greatly appreciate your bottom-line through:
- Realization of additional recovery of 5-10% claims, which would have gone unrealized without a proper Revenue Cycle Management Cycle (RCM) in place.
- Expedite Account Receivables through timely follow up and persistence with insurance carriers.
- Substantial reduction in operating costs through innovative business models, and appreciable increase in revenues through seamless reimbursements.
- Expanding practice without additional outlay on human resources; our recommended technology interface can withstand your growing business/practice needs.
- Last but not the least, enhanced patient satisfaction through unprecedented patient experience