Revenue cycle management is not a linear process – so we have brought all the moving pieces together!
Here at MedConverge, we understand that revenue cycle management (RCM) is a complex process with multiple intricacies involved. That’s why we’ve taken it upon ourselves to help bring together each piece of the puzzle to create user-friendly and easy-to-use software.
A revenue cycle management service should simplify the entire RCM process – from identifying, collecting payments, to managing your practice’s revenue. And that’s exactly what we do!
What is Revenue Cycle Management?
Revenue cycle management is a combination of various administration tasks that revolve around a patient’s care. For example, from the moment a new patient schedules an appointment to the collection of fees – the RCM process includes:
- Collecting patient’s personal and insurance information
- Verifying insurance coverage
- Determining patient copays
- Sending claims with particular treatment codes to insurers
- Billing patients for any remaining balances owed
To ensure that your practice runs smoothly and that your patients receive quick and efficient care, you need to invest in the right healthcare revenue cycle management services.
Transform Your Revenue Cycle to Meet Industry Demands
Getting all your ducks lined up in a row doesn’t have to be a challenge.
Trying to manually handle all the paperwork necessary to enter patient’s information into your system and then manually process insurance claims and billing information can become quite messy. Instead of overloading your staff, you want to consider ways to help you streamline the entire process – the right revenue cycle management software can help.
Reduce Denials and Underpayments
With the right RCM service, you will have the ability to streamline your billing and insurance claim processing. This means that you will be able to identify and fix any issues that might be causing denials and underpayments before they occur.
Manage Claims and Remittances
With a revenue cycle management service, you can make sure that you’re getting paid for every claim sent to your patients’ insurance companies.
Improve Patient Access and Eligibility Verification
A revenue cycle management service should also provide you with the ability to verify if your patients have the necessary insurance coverage for treatment. This ability to verify a patient’s eligibility will ensure that you do not lose money on any claim that is sent in.
Improve Patient Payment Collections
By using an RCM service, you will also be able to track your patient payments better. This will allow you to identify any financial issues early on and help you take action to ensure that your patients make their payments on time.
Improve Medical Coding Accuracy
With proper coding, you will be able to ensure that there are fewer denials and underpayments regarding billing and insurance claim processing.
Reduce Compliance Issues and Risk
When it comes to your practice, you want to make sure that you can reduce the risk of any compliance issues. This will help you ensure that your practice can continue to run smoothly.
Manage Daily Revenue Cycle and Business Operations More Effectively
By using a revenue cycle management service, you can better manage your daily business operations. This will help you to streamline your RCM process and make sure that your practice is running smoothly.
Holistic Medical Practice Management Service
MedConverge can give you the holistic medical practice management service you are searching for. With MedConverge, you have access to:
Revenue Cycle Management
We provide our clients with a revenue cycle management service to streamline their billing and insurance claim processing.
With our automated AR follow-up software, your patients will get reminders for their payments. This will allow you to improve your collection selections and reduce the number of unpaid balances.
We have clinical documentation software that allows you to easily update your patient’s medical history and keep track of your office visits.
We offer credentialing and contracting software that allows you to easily manage all of your patient’s paperwork and make sure that you are compliant with all of your requirements.
We have MIPS and MACRA reporting software that allows you to easily report on the quality of care that your patients are receiving.
With over 20 years of experience in healthcare revenue cycle management, we understand just how stressful it can be to keep your practice running smoothly. We aim to help you streamline your RCM process and ensure that your practice is running as efficiently as possible.
With the right revenue cycle management service at your side, you can rest assured knowing that you are taking care of business in the most effective way possible.
Curious how we can help you streamline your day-to-day business? Contact us for more information.