Managing a growing healthcare practice can feel exciting and a little nerve-racking at the same time. You may juggle multiple balls simultaneously. The last thing you want is to get caught off-guard by something that reduces the quality of care you provide patients, damages your reputation, or results in fines and fees.
The healthcare industry is under heavy pressure to reduce service costs while increasing the quality of care. You will need knowledge and experience to implement smart business solutions in the face of an ever-changing industry.
Revenue cycle management is at the heart of maintaining a viable healthcare practice. This includes:
- Detailed monthly financial reporting
- Payment processing
- Aged accounts receivable collections
- Accounts receivable management
- Ancillary income development
We have worked with several practices to improve their current processes or implement new processes to achieve increased profits and growth. We want to do the same for you.
Our KPI tracking system can give you measurable data to track all efforts within your company. See where your team can improve on a weekly basis, rather than waiting for reports when it’s already too late to get back on track.
We can do an expert revenue analysis to identify revenue leaks. This is challenging because leaks may result from undetected areas. Your EMR may not be charging appropriately, or insurance companies may underpay your claims. Your automated system may adjust something that you should charge for.
Furthermore, correct billing requires clean claims if your revenue cycle is to be successful. Payer edits and CCI edits will increase your claim’s chances of getting denied if it is not properly billed. We have experience with medical billing and coding and can put that experience to work for you.