Revenue Cycle Management Services. “Turn, Turn, Turn” as the old folk song goes, “A time to gain, a time to lose.” And of course, old Pete Seeger had it right. The world and business goes through cycles. But in the Healthcare field, no one wants to lose. That’s why there’s Revenue Cycle Management. As the name implies, RCM is the method of identifying, collecting, and managing a medical practice, a hospital, or clinic’s payments from patients or insurance companies.
In other words, it’s where the money comes from! And without an efficient way to collect All the money you’re owed, you’re going to find yourself in trouble very fast. In the Healthcare Industry, with high costs, an aging population with limited income, and the employment chaos caused by the COVID 19 pandemic, not to mention uninsured patients suffering from it, Healthcare Revenue Cycle Management is more important than ever.
That’s the reason so many Healthcare Providers of all types and sizes have turned to Revenue Cycle Management Outsourcing, they understand the advantages of letting someone they trust to handle their money.
But RCM Outsourcing does even more. It can slash your overhead by 40% or more!
The cycle of Revenue consists of a number of stages. Each as important as the other.
Another vital set of information. Here we’re talking about the services provided by the physician and recording the entire spectrum of services provided. If this is done in a timely manner, then reimbursement will be faster. The likely payers can include:
Following up on patient accounts that are unpaid or underpaid is crucial to staying ahead of the revenue cycle. Identifying the reasons and source of this problem is a step on the way to getting paid the right amount at the right time
Believe it or not, errors in coding and billing cause the most problems in receiving payment. If the medical coding is incorrect, the insurance provider will kick it back to you. If the billing for the patient is not correct, this will cause an even bigger delay since may patients wait for your office to contact them.
What happens when the patient’s claim is denied by their insurance provider? This means that the claim needs to be re-examined for errors. Are all of the forms filled out correctly? Are the codes correct? Policy information? Dates? What about treatment delivered, proper codes there? All of the information needs to be verified.
Paper or electronic, the claims need to be complete and correct down to the last detail. Revenue Cycle Management Services is the answer. Before submission, so there will be no delay in reimbursement
This sounds elemental, but not staying up to date on a patient’s coverage will cause all sorts of hard to fix problems.
While expanding your business and cutting costs is your strategic goal, you need a plan to get there. Look at our credentials, talk to our current clients, and examine our work and professional staff. We’re in this for the long run, just like you. For over 20 years, Rely Services has built a reputation for attention to detail in the Revenue Cycle Management Services Sector.
All our team members are certified, and HIPPA compliant. Our methods meet or exceed the stringent industry standards and we are constantly updating our training
Our global reach can result in head-snapping speed for your project’s coding. Give us the work at the end of your day, and you’ll have it back in the morning. We really are open 24/7
We’ve never lost any data to a power, system, server, or network failure. We’ve never had a random or targeted data breach. All of our data has multiple redundancies, so even catastrophic events will not result in a loss.
Our global reach can result in head-snapping speed for your project’s data. Input, compilation, storage, and retrieval, our speed will astound you. Give us the work at the end of your day, and you’ll have it back in the morning
Our teams can save you capital, so you can invest it in expanding your enterprise. We routinely save our clients 40% or more and our services include one of the most highly trained teams of professionals in the business.
Using Rely Services as your Revenue Cycles Management Services partner will save you more than time and money. Since we are relentlessly refining our business methods, our constant pursuit of perfection will benefit all your operational practices. Contact us today for a detailed evaluation of the many ways we can make you more successful.
"We can securely concentrate all patient information into a data base that is quickly retrievable and searchable. Contact us and see what a difference we can make for you!"
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