Our mission is to provide professional, comprehensive, and expert service to our medical providers by maximizing their insurance payments, streamlining the intraoffice process, and overall business presentation. BENEFITS OF OUTSOURCED MEDICAL BILLING
AND REVENUE CYCLE MANAGEMENT
IF YOU FIND IT MORE DIFFICULT TO MANAGE THE ENTIRETY OF YOUR MEDICAL PRACTICE WHILE MAINTAINING THE COMPLEXITY AND EFFIC
IENCY OF YOUR REVENUE CYCLE MANAGEMENT, YOU SHOULD CONSIDER OUTSOURCING. With the ever-changing regulations and protocols in the healthcare industry, outsourcing relieves your business of these burdens and allows you to focus on the core of your medical practice. Enhances Revenue Generation
An RCM service will generate a higher practice income through efficiencies of scale, broader experience with payors, resources dedicated to denial management, and self-pay follow-up, even after calculating the fees. Decrease Days in A/R
Lack of follow-up is a significant contributor to lost revenue. Contributing factors such as timely filing issues, contractual allowances, and write-offs increase days in A/R. Monthly Reporting
A contemporary RCM service will provide customized monthly reports and analytics that offer a deeper look at key metrics, allowing the organization to make better strategic decisions. This should include provider productivity, coding methods, resource management, enhanced patient care, and myriad other practice-specific ones. Detailed Information (Cost/Utilization Patterns to Assist in Contract Negotiations)
Negotiating with payors in today’s environment is not only a tedious process but puts a tremendous strain on providers and their management team. Having detailed, empirical historical information on an ongoing basis is a competitively enabling foundation when negotiating contracts. Designated Team
An RCM should be your “Business Partner,” not your “Billing Company.” Clients should have dedicated personnel to handle your account as if they were your employees.
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Single Point of Accountability
When outsourcing, you have an accredited organization focused on the highest level of performance while providing checks and balances, ensuring there are no inconsistencies. This allows for a more efficient billing process that offers a one-stop solution. Cost of Building an Internal Billing Operation
The costs and personnel complexities associated with implementing and running an internal billing operation are very high. A billing administrator must hire, train, certify and carry out a compliance plan. The average cost of recruiting, hiring, and training a new employee is $3,500 (not including the decreased production caused by turnover). Technology (hardware/software) resources, salary, benefits, and office space are just a few contributing factors to the overwhelming expense of in-house billing. Government Protocols
With the complex regulatory environment in the healthcare industry, the demands for billing knowledge and experience have become overwhelming for healthcare providers. Full-service billing services are in need partly because of their efficient administrative processes, HIPAA compliance, and ability to stay contemporary with regulations and requirements. Technology
End to End Management of IT includes the ability to meet the demand for skilled IT personnel, continuous assessment of your application (Industry Standards, HIPAA), hardware, network, heating, ventilation, HVAC, power, security, staffing, policies, procedures, upgrades, backups, monthly maintenance fees and the ability to integrate various systems and deploy new technologies. And, an internal data backup plan is also required. You must establish and implement procedures to create and
maintain retrievable exact copies of electronically protected health information. Billing Business is Different From Your Core Business
Medical Billing is complex and requires 100% of your staff members time. Practices are looking to full-service billing partners to allow the practice to focus on quality patient care.
