Maximize Revenue with Efficient RCM Solutions
< 30
Days in AR
10-15%
Revenue Increase
97%
First Pass Ratio
96%
Collection Ratios
98%
Clean Claims Rate
Customized Healthcare RCM Services for Your Practice
Finding the right revenue cycle management solution in a sea of RCM services is challenging and time-consuming. What if you can get a customizable solution designed specifically to optimize your practice’s financial health? Intriguing, right?
Our team of RCM specialists is here to assist you in obtaining the best-suited services to improve your financial health. All you need to do is schedule a call with our representative to discuss your needs, and we will share a tailored solution within your budget!
Revenue Integrity
We ensure revenue integrity with our healthcare RCM services by enhancing the clinical documentation process, improving coding accuracy and charge capture, and managing compliance-related risks for higher reimbursements.
Reimbursement Management
Effective reimbursement management is another feature that makes our RCM services worthwhile. We have seamlessly integrated claim management workflow to accelerate cash flow, prevent denials, and automate the claim submission process.
Revenue Cycle Analytics
We have also incorporated comprehensive data analytics and reporting into our customized revenue cycle management solution to help you gain insight into your financial performance and make data-driven decisions.
RCM for Hospitals
Hospitals struggle due to declining reimbursements, compliance risk, and margin pressure. We have designed healthcare RCM services specifically for large healthcare facilities to ensure overall revenue cycle efficiency.
RCM for Physicians
Realize higher reimbursements and a steady cash flow with our physician RCM services encompassing denial management, A/R follow-up, revenue integrity, and payment reconciliation for optimal financial results.
RCM for Laboratories
Get our tailored revenue cycle management solution to optimize your financial health and operational efficiency by navigating the challenges associated with laboratory RCM through accurate coding and payment reconciliation.
Outsourcing Revenue Cycle Management Services to MediBillMD
You can optimize and automate administrative duties, including patient registration, eligibility verification, and claim processing, by outsourcing RCM services. Besides, outsourcing these activities frees your staff to focus on keeping patients satisfied.
Partnering with us enables you to implement effective RCM workflow. We optimize your reimbursement cycles and accelerate payment collections with accurate and timely claim submissions so you can maintain a stable cash flow.
Employing our revenue cycle management solution helps you identify and rectify errors in claims before submission through the scrubbing process. The claim denial rate is reduced, saving time and resources on reworking and appealing denials.
Ensuring compliance with payer requirements, coding systems, and regulatory authorities is essential to prevent financial penalties and legal issues. At MediBillMD, we train our staff on regulatory standards and payer requirements to avoid non-compliance.
At MediBillMD, our team of RCM specialists utilize complete documentation and accurate coding practices to ensure all rendered services and procedures are properly billed and documented, capturing the maximum allowable reimbursements.
Another reason to outsource RCM services to MediBillMD is that we provide transparency into your practice's financial performance with detailed reporting so you can track trends and make informed decisions for your revenue cycle.
Are you looking for healthcare RCM services that can offload your shoulders from the intricacies of handling the financial aspects of your practice? Do you wish to focus on other core activities instead? Then MediBillMD has got you covered! Our services are available across all 50 states of the US, and our staff is trained in every state and federal regulation.
Our RCM specialists have notable industry experience in various specialties. From rheumatology to pulmonology and physical therapy to gastroenterology, we know that each specialty has unique requirements to stay profitable in the face of evolving healthcare regulations and pricing cuts. Thus, we have tailored our revenue cycle management services and trained our staff to support your facilities at all times.
Our Revenue Cycle Management Process & Workflow
Not sure how you will achieve financial success by partnering with us for healthcare revenue cycle management services? Well, here’s a quick look into our RCM workflow to understand what you sign up for when you get our services.
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1. Patient Registration
Our process is initiated by collecting the relevant patient demographic information along with their insurance coverage details for proper registration.
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2. Medical Coding
Our certified professional coders (CPCs) assign appropriate and accurate codes based on the rendered services and procedures.
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3. Medical Billing
Based on the assigned codes in step 2, our billing specialists enter the service charges for rightful reimbursements.
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4. Quality Review
Once the claim is ready, we perform a quality review in which our team checks the claims for coding inaccuracies and documentation inconsistencies.
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5. Claim Submission
After ensuring the claim is error-free, we submit it electronically to receive the payment from the payer.
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6. Payment Posting
Then comes the part where we record the payment collected from the relevant insurance company into the system.
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7. Denial Management
In case a denial code is triggered, we thoroughly investigate it and file an appeal or rework the claim.
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8. A/R Follow Up
A steady cash flow is a lifeline for any practice. We follow up with payers on unpaid and underpaid claims to ensure timely reimbursements.
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9. Reporting
Finally, we generate detailed reports on your practice's financial performance to help you make data-driven decisions.
Want a reliable partner to manage your healthcare practice’s revenue cycle but don’t want to break the bank? At MediBillMD, we offer affordable revenue cycle management solutions, keeping your specific challenges and operations in mind.
Price Comparison Calculator
Based on your annual collections, we will calculate the in-house medical billing cost and compare it with the MediBillMD service charges.
Our results speak for ourselves! MediBillMD is a well-trusted name in the industry. Our healthcare billing specialists optimize the revenue cycle of over 300 verified practices.
Significance of RCM Services for Healthcare Providers
Well-designed revenue cycle management services optimize your billing and collection cycles by accurately coding procedures, processing claims, following up on account receivables, appealing denials, and posting payments. Automating administrative activities helps practices save the time, effort, and resources needed to rework claims or file appeals.
Moreover, an effective RCM process bridges the gap between healthcare providers, insurance companies, and patients. It significantly reduces the information gap between all stakeholders, improves the overall documentation process, and ensures that coders and billing specialists understand and adhere to the varying payer guidelines related to different procedures.
Get In Touch with a Healthcare RCM Specialist
Get a dedicated RCM specialist to handle your healthcare organization's revenue cycle operations, leading to higher reimbursements, reduced denials, enhanced claim-first pass rate, and effective A/R management.
FAQs
Healthcare RCM is the process that enables practices and hospitals to get reimbursements for the rendered care services. It initiates with patient scheduling and concludes with payment reconciliation.
Yes, regardless of your specialties, we offer tailored RCM services to fulfill your practice’s unique revenue cycle requirements.
Yes, MediBillMD can help small practices, solo practitioners, group practices, hospitals, and healthcare systems with its comprehensive RCM solutions.
When you outsource healthcare RCM to MediBillMD, you don't have to establish costly infrastructure and hire an in-house team. You are only required to pay a percentage on your monthly collections. You can connect with our representative for all queries related to the charges.
Downcoding is the complete opposite of upcoding. It occurs when doctors mistakenly use incorrect codes to refer to less severe procedures or services than provided. As a result, healthcare providers receive lower reimbursements.
MediBillMD has a team of RCM specialists trained in leading RCM, medical billing, and practice management software. As a result, you can acquire our RCM services with peace of mind that our solution will seamlessly integrate into your existing system.
