Medical revenue cycle management - RCM
Delayed and lost claim reimbursements can have a ripple effect on the quality of care provided.
Revenue cycle management ensures that healthcare providers have the necessary resources to deliver high-quality care and meet the quality care standards set by both commercial and government payers. These resources encompass staffing, financial support, policies and procedures, as well as electronic health record (EHR) systems designed to handle the complexities of the healthcare insurance cycle.
A lack of resources presents various risks for providers, including a reduced number of administrative staff available to handle both new and returning patients. As patient volumes decrease, the practice experiences a decline in revenue. Moreover, when administrative resources are stretched thin, there may be fewer individuals responsible for managing office conditions and ensuring compliance with safety measures, potentially leading to non-compliance issues.
To optimize your organization's financial performance, it is important to have an efficient and effective system in place. However, allocating resources towards medical billing and coding can detract from patient-centered care. This is where RMBS comes in. We offer comprehensive medical billing and coding services that can help alleviate the burden on your facility, allowing you to allocate resources more effectively and increase patient flow.
Our team is dedicated to supporting practices of all sizes in resolving issues with lost, delayed, or underpaid claims. Benefit from our round-the-clock medical billing and coding consulting services to receive the necessary assistance for your practice's medical billing needs.
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JeanOffice Manager of Foundational Healthcare Solutions LLCOur company has been a customer of REVLINE MEDICAL BILLING SERVICES LLC for more than a year. REVLINE MEDICAL BILLING SERVICES LLC operational team is very responsive and technically knowledgeable: shorter credentialing time for our company and providers, claims processed promptly and accurately. With REVLINE MEDICAL BILLING SERVICES LLC, our billing cycle has significantly improved, allowing us to focus on what we do better: providing the best care to our patients. To sum it up, REVLINE MEDICAL BILLING SERVICES LLC has a commitment to excellence and we look forward to more collaboration and success in the days ahead with its team.
Dr. Robyn Richardson Cerebral Counseling PLLCRevline is a great billing company. I am most impressed with their speedy response time when I have billing questions.
Enhancing Your RCM Can Also Enhance Patient Contentment
Our team of experts in Revenue Cycle Management (RCM) is here to assist you every step of the way. We offer personalized guidance, tailored recommendations, and prompt answers to any inquiries you may have. By taking the time to comprehend the unique needs, current obstacles, and future goals of your practice, we can suggest the most suitable RCM solution for your specific requirements.
Our primary objective is to support healthcare providers in the accurate and timely submission of claims. We recognize the challenges that providers face with administrative tasks, which is why our team consists of professionals with specialized experience in various healthcare fields.
Furthermore, we provide real-time performance analytics and timely notifications to ensure that no claims go unnoticed or unresolved. Utilizing advanced machine learning and artificial intelligence technologies, we assist providers in identifying the underlying causes of missing funding, as well as patterns of claim denial and insurance underpayments. By offering actionable insights, we empower providers to address and rectify these issues effectively.
To ensure timely payment, it is important to track various key performance indicators (KPIs) in addition to CCR and FPR during the RCM process. These KPIs play a crucial role in monitoring the effectiveness of your payment collection efforts.
- Total accounts receivable (A/R)
- Clean claims rate or first pass rate
- Average days in A/R
- Cash collection
- Enabling technologies for people management and performance improvement
- Bad debt rate
- Charge lag
- Denial rate
- Rejection rate
Automated Revenue Cycle Management (RCM)
Maintaining a healthy revenue cycle can be quite a challenge, especially for medical practices that have limited staff and a large number of patients.
In recent times, automation has emerged as a significant factor in the realm of revenue cycles. Automating certain aspects of the insurance billing process has proven to be crucial for practices and hospitals of all sizes.
By utilizing automated revenue cycle technology, you can achieve the following:
- Streamline insurance payments and ensure a more consistent revenue flow.
- Alleviate burnout caused by administrative tasks.
- Enhance patient satisfaction through the implementation of modern billing practices.
Automation can be applied at various stages of the revenue cycle, including:
- Prior authorizations
- Insurance eligibility verifications
- Patient estimates
- Claim processing and validation
- Patient collections
While it may not be feasible to automate the entire revenue cycle process, practices can still reap significant benefits from incorporating automated workflows into their revenue cycle management.