Revenue management is a never-ending cycle in your day-to-day practice. It cannot be ignored or not prioritized. Scheduling patient appointments, applying for claims, tracking payments, and the huge paperwork associated with all these are to be dealt with daily. But is that making you lose your valuable time that could be spent on taking care of your patients instead? Then, let an intelligent healthcare revenue cycle solution do all the work for you.
How does it make things relaxed for you?
The healthcare revenue cycle is something that is constantly changing. From coding to billing policies, payer contracts and state regulations, things get altered and updated frequently. Keeping track of these changes and moving forward is very hard for the clinical staff. Many times, patients suffer in this scenario and it subsequently weakens the doctor-patient relationship.
Right from making the initial patient contact, preauthorizing for claims, health records data management, coding, billing, applying for claims and receiving the payment, healthcare revenue solutions has it all covered for you. Everything is quicker, efficient, error-free and stress-free with the right solution installed.
What are the services offered?
- Accurately capturing the patient demographics, insurance details and all the necessary information at the time of registration.
- Make enquiries about the insurance package of the patient and get him/her preauthorized for claims. Make the patient aware of their payment privileges.
- Provide the patient with payment options—commercial payers, government packages or by the individual himself.
- Documentation of the healthcare data without any gaps or missing information in the cloud-based data management system, ensuring HIPPA compliance.
- Payer and provider enrolment and credentialing.
- Error-free coding and billing services sticking to the latest coding practices and regulations.
- Contacting the payers with claim application, eliminating all possible factors leading to rejection, ensuring approval in the first round itself.
- Tracking delays in payment and collection of money.
- Prompt response and management of payment denials with appeal process and resubmission of claims.
- Periodic analysis of the revenue inflow vs. expenditure to assess the profit.
- Spotting errors in practice management to set the trend right to improve productivity through policy revisions.
The add-on benefits
A trusted healthcare revenue solution takes up a result-oriented approach in their service. A significant benefit you can enjoy is the implication of state-of-the-art technology software solutions that enhance performance and makes data accessible in the easiest way. It can provide you with indicators regarding overall performance and predict the outcomes from patterns in practice. It also improves your relationship with the insurance providers, placing you upfront in their network. Patient satisfaction and reputation is another added advantage worked up through proper communication and no delays.
Staying financially viable is the key to survival in any industry. Each kind of healthcare facility has a different need when it comes to practice management and revenue cycle. An intelligent healthcare revenue cycle solution delivers service customized to fit your requirement. So, what are you waiting for? Grab your fast route to long-term success now.
