Healthcare providers remain occupied with their immense job responsibilities and ignore the most crucial aspect of their medical practice: quick account receivables. Revenue cycle management improves your healthcare financial system by adding stability and increasing workflow efficiency. Spontaneous cash flow is the first thing overlooked with the voluminous increase in disease occurrences. Instead of wasting time to find someone who can upheave your revenue cycle, we quickly resolve your issues through the expertise of our specialized cash flow managers and medical billers.
Revenue cycle management (RCM) covers everything starting from provider credentialing to monthly reporting. It is important for all medical providers because it optimizes the workflow for increased reimbursements. Outsourcing RCM helps with streamlining claim submissions, continuous A/R follow-ups, and quality assurance that makes your practice productive and efficient. With the help of our trained specialists, you can minimize claim errors, and denials through our standard revenue collection process.
A doctor may need to see thousands of patients every day. Outsourcing your revenue management services is easy with Physicians Revenue Group, Inc., as we give preference to your existing financial status and ensure a smooth workflow. It includes verification and maintenance of patients’ information before they arrive for their appointment. Also, it notifies patients about their available balance after performing a pre-authorization run of their insurance plan and checking their eligibility to acquire a special level of healthcare.
Revenue cycle management helps the provider staff to stay informed about every patient’s insurance history. It also allows providers to keep abreast of the total number of visits, total revenue received, and the pending amount. We provide a team of qualified revenue managers who never let your revenue lag due to patient discrepancies.
No provider dreams of the forcible capture of their account receivables. Revenue cycle management aims to schedule and audit patient fees. It also helps providers manage a better cash flow by incorporating an e-charge capture process that involves a thorough assessment of patient documents and the leftover amount clearance.
In claim submission, the thing that matters the most is to perform a close analysis of every claim based on the insurance carrier’s claim format requirements. Revenue cycle management brings ease for providers by running multi-tier claim checks and traceable claim submissions. By acquiring the RCM services, you can incorporate easy rebilling, claims for processing, and quickly locate the delays of the billing process.
Everything that comes in direct contact with the insurance carriers is part of payor management. RCM helps providers pay close attention to details like contact details of carriers, providers, fee schedules, contract dates, and the documents provided in support of claims as part of deep carrier analysis.
When looking out for someone who can proficiently fulfill all the responsibilities related to RCM, Physicians Revenue Group, Inc. provides what others don’t. From provider credentialing to claim submission, and denial management, we serve what you want. We boost your medical practice with increased revenue growth through RCM by following these best practices:
To assess the success of your revenue collection process, healthcare institutions must keep track of the amount they owe. The full revenue cycle can be frequently monitored and compared to the previous results to see how well it operates.
As medical billing regulations are continually changing, updating software and providing personnel with ongoing training and education is necessary. RCM helps you to remain abreast of adjustments that might impact the billing procedures and seek training if necessary. This will be less expensive in the long run than continuously resubmitting claims.
Data will become available to help identify possible difficulties once clear procedures are established for handling patient accounts. To more effectively target patients for extra reminders and get the billing staff ready to outsource collections, implement methods of tracking problematic behaviors like late payments, persistently denied payments, or frequent changes in contact information.
