3 BENEFITS OF REVENUE CYCLE MANAGEMENT FOR HEALTHCARE PROVIDERS

Practitioners can focus more on the betterment and smooth running of their practice, offering premium care experience and regulatory compliance. All of this and more is possible with skillful revenue cycle management services. RCM manages everything related to revenue whether it is providers’ credentialing, claim submission, payment posting, denial follow-ups, and A/R management.
Specialized experts in billing and denial management have insightful knowledge and skilled expertise according to the HIPAA and HITECH. Revenue cycle management offers conclusive benefits for the provider’s practice by managing burden, time, and resources. It helps to keep the practice on track with constant revenue growth. We understand the importance of your efforts to retain maximum patient service revenue and lock billable items for clean claim submissions.
At Physicians Revenue Group, Inc. our expert denial managers access the EOB reports and work through an organized denial management process to record changes in trends.

What benefits can a provider get from revenue cycle management?

Getting timely reimbursements has paramount importance for providers otherwise it becomes difficult for the practice to maintain its financial flow. With revenue cycle management it becomes easy for the medical staff to thoroughly locate error-prone substances like wrong bills and inappropriate claims.

It lets providers Mitigate Errors before sending claims to insurance providers. Consequently, the possibility of clean claim submission becomes high which will lead to more revenue streams. RCM has a lot to offer like providers credentialing, billing, claim submission, and denial management for greater workflow and financial stability. Physicians Revenue Group, Inc. uses centralized revenue management platforms and resolves maximum denials in less than 24 to 28 days.

Automated real-time validation and pre-authorization

Insurance verification and pre-authorization have substantial importance for patients and providers. Both give similar benefits but pre-authorization initially checks patients’ ability to acquire the treatment prescribed by the physician according to the patient’s active insurance plans. All providers need a reliable third-party RCM company who can bring transparency between the patients’ coverage and payment liability.

The specialized revenue managers at Physicians Revenue Group, Inc. communicate with the insurance company on behalf of providers and virtually complete a prior authorization procedure with complete documentation. All efforts are made to lighten up the financial burden from t providers and increase clean claim submissions for higher revenue gains.

Customized interface for a specific payer

To reduce the chances of errors in payment claims, providers need to perform charge capturing. This offers the right way to transcribe the rendered medical services into billable charges and transfer them as payment claims or bills to the insurance providers.

We are good at achieving what we promise with our providers and maximizing their revenue by ten percent by providing a custom interface for your selective payor groups. We make the tedious task of billing and claim processing easy for your practice by using our multi-specialty billing software. Our performance is purposeful and it is to culminate maximum reimbursements and improve secondary claim sanctions with our EHR support suite.

Reduce Denials Occurrence

Accurate claim submissions at the start provides perfect payment reimbursements in the end. To achieve maximum payment approvals, it is important to look out for potential errors in the revenue cycle process. Physicians Revenue Group, Inc. ensures that maximum claims get approval at the first attempt by tracking them from start until accepted. We help you streamline your revenue cycle with HIPAA-compliant tools and technologies to spot the sources of revenue leakage and improve the revenue with respect to the turnover rate.

Why Is Physicians Revenue Group, Inc. Best To Track Productivity In Your Revenue Cycle Management?

We touch on the advanced aspects of Revenue Cycle Management by automating redundant processes with our proficient practice management software, real-time insights, and follow-up groupings. Our promised results are guaranteed to meet every provider’s requirements because we follow a validated process of tracking denials during the normal process of claim submission. With our established workflow system, we follow the progress of every claim from start to end. Our revenue managers and denial analysts remain active to immediately start working on every denial and successfully resubmit it within 24 to 48 hours.