Medical Revenue Cycle Services
You Are The Healthcare Legends,
We Are The Champions Of RCM!
Med Revolve Billing’s Medical Revenue Cycle service generates and collects payments for the services a provider provides to their patients. This is a complete Medical Revenue Management System managing end-to-end RCM operations like patient registration, insurance verification, coding, billing, and collections. Moreover, it optimizes the revenue cycle for better financial outcomes of the physician’s medical center. The Medical Revenue Management System is designed to streamline and improve the financial aspects of a medical practice, ensuring maximum revenue capture and efficiency.
Automated Billing
We offer hospital RCM service to utilize artificial intelligence and machine learning to handle coding, billing, collections, denials management, and revenue forecasting with accuracy and compliance.
Blockchain Technology
Our RCM service reduces administrative overheads with its immutable and self-executing ledger. Blockchain and smart contracts facilitate secure payment collection and distribution among multiple parties.
Patient Empowerment
Our user-friendly RCM improves the quality of patient care, outcomes, and retention rates with its interactive and personalized tools. When patients are satisfied, your revenue is amplified.
BEST HEALTHCARE RCM COMPANY
We Are The RCM Supporters For The Life Healers
Medical RCM is the process of managing the financial aspects of healthcare delivery. It requires constant adaptation to changing regulations, payer policies, and patient expectations. Otherwise, revenue leakage, cash flow problems, and operational inefficiencies would compromise the financial viability and sustainability of the practice.
You need medical RCM service by Med Revolve Billing – a best medical billing agency – . Our RCM experts optimize your clinic’s revenue cycle.
In addition, We also help providers comply with the latest regulations, such as the Medicare Access and CHIP Reauthorization Act (MACRA) and the Quality Payment Program (QPP).
So don’t let your medical finances be a pain in the neck. Let Med Revolve Billing revenue cycle management services be the cure!
REPORTING & ANALYTICS FEATURES
RCM Reporting On Your Fingertips
Proper Claim Scrubbing
See the key metrics and trends of the revenue billing process in a comprehensive and interactive analytics dashboard. Everyone can compare your performance with industry benchmarks and identify areas for improvement.
Quick Feedback
Communicate with our RCM experts, your patients, and the insurance payers instantly through the integrated chat system. You can ask questions, share feedback, and resolve issues in real time.
Detailed Reports
Drill down into the details of your revenue cycle with our customizable and granular reports. Each can filter, sort, and export your medical billing data according to your needs and preferences.
Multi-Specialty Support
Manage multiple facilities and locations with our RCM reporting dashboard. Everyone can view and compare the data of different sites and groups in one place. Dedicated dashboard for each specialty.
Data Security
You can rest assured that your data is safe and secure with our RCM reporting dashboard. We use the latest encryption and authentication technologies to protect your data from unauthorized access and breaches.
Data Integration
You can integrate your data with other systems and platforms with our RCM reporting dashboard. We support various formats and standards to ensure seamless data exchange and interoperability.
RCM Service Features
We Have The Features To Solve Them!
You have nothing to lose and everything to gain with Med Revolve Billing – a best medical billing agency – Medical Revenue Cycle Management features. This means our healthcare RCM service is the partner you can trust for your revenue cycle success.
Charge Entry Feature
- Claim creation, validation, and transmission
- Entering valid super-bill information
- Claim approval confirmation
- Claim status tracking
Remittance Processing Feature
- Processing of payments from the payers
- Processing of adjustments and denials
- Reconciling payments to the provider’s claims
Insurance Follow-Up Feature
- Following up with payers for unpaid claims
- Following up with payers for underpaid claims
- Contact payers on a provider’s behalf
- Negotiating and resolving claim disputes
KPI Reporting & Analytics
- Monitors your key performance indicators
- Analyzes days in accounts receivable
- Analyzes claim denial rate and collection rate
- Comprehensive and customizable reports
- Advanced data visualization tools
Patient Collections Feature
- Collecting patient payments
- Managing initial statement + final notice
- Sending clean bills and reminders to patients
- Convenient payment options for patients
A/R Management Feature
- Reduces the aging of outstanding A/R
- Entering valid super-bill information
- Claim approval confirmation
- Collecting A/R collections from the payers
Coding and Documentation
- Coding provider’s services compliantly
- Using the latest coding standards and guidelines
- Capturing relevant details that support a provider’s
- Justifying a provider’s reimbursement for services
- Performing medical bill audits
Charge Capture Feature
- Capturing and validating the service charges
- Leveraging charge sheets and EHRs
- Ensuring charges are consistent with coding
- Reconciling your charges with your claims
- Reconciling charges with your contractual agreements with the payers
Contract Management
- Managing contractual agreements with the payers
- Determining how much you get paid
- Reviewing and negotiating your contracts
- Monitoring the contracts’ compliance
- Analyzing the contract performance
- Using metrics like contract yield and case mix index
WHY CHOOSE US?
END-TO-END RCM SOLUTIONS
Poor Cash Flow
Providers struggle with maintaining a steady and predictable cash flow due to various factors such as bad debt and underpayments.
Better Cash Flow
Our med RCM service reduces the bad debt and underpayments by ensuring accurate and timely claim submission and follow-up
Mishandled A/R
Providers face challenges in managing their accounts receivable (A/R) due to the complexity and variability of the process.
Managed A/R
Our healthcare RCM solution provides visibility into A/R performance, such as days in A/R, A/R aging, and A/R turnover.
Misaligned Payer Compatibility
Providers struggle complying with multiple payers, as well as different claim types, like fee-for-service, value-based, and capitated.
Aligned Payer Compatibility
Our flexible and scalable RCM platform adapts to the changing payer requirements and maximizes provider’s reimbursements
High Denial Rates
Providers experience is a high rate of denials from payers, that give negative impact to their revenue and also to their cash flow.
High Recovery Rates
Our proactive and preventive approach resolves the root causes of denials to boost denial recovery rates and revenue integrity.
More Admin Workload
Denials reduce the provider’s revenue collection and increase their workload as they have to appeal and resubmit the claims.
Automated Process
Our RCM experts and EHR platform automate the manual work and perform claim submission with utmost accuracy.
Unsatisfied Patients
Patients are becoming more empowered consumers of healthcare services, so providers find it hard to ensure patient satisfaction.
Satisfied Patients
Our RCM service offers a patient-centric platform to improve the patient-payer relationship via telehealth features.
Complicated Patient Management
Providers struggle with the increasing patient financial responsibility due to high deductible health plans (HDHPs) and self-pay patients.
Automated Patient Management
Our medical billing platform automatically estimates and communicates the patient’s out-of-pocket costs before the service.
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FAQs
Frequently Asked Questions
Revenue cycle management is the process of managing the financial aspects of a healthcare provider’s or facility’s operations. It involves billing, coding, collecting, and reconciling payments from patients and insurance companies.
RCM services can help you improve your cash flow, reduce administrative costs, increase patient satisfaction, and comply with regulatory requirements.
Med Revolve Billing has a robust and proactive system to handle claim denials and appeals. Our expert team monitor and analyze the reasons for claim rejections and denials. Then, correct and resubmit the claims as soon as possible. We also follow up with the payers and negotiate on your behalf to get the maximum reimbursement. We keep the provider informed of the status and outcome of the claim denials and appeals.
We charge for our RCM services based on a percentage of your collections. This means that you only pay us when you get paid by the payers and patients. Our skilled team do not charge any upfront fees, hidden fees, or long-term contracts. We believe that this pricing model is fair and transparent, and it aligns our interests with yours.
We take the security and privacy of your data very seriously. Our expert team comply with all the relevant laws and regulations, such as the Health Insurance Portability and Accountability Act (HIPAA) and the General Data Protection Regulation (GDPR).We use encryption, firewalls, backups, and other measures to protect your data from unauthorized access, loss, or damage.
We measure and improve our RCM performance using various metrics and indicators, such as:
Days in accounts receivable (DAR): Average number of days it takes to collect the payments from the payers and patients
Claim acceptance rate: Percentage of claims that are accepted by the payers without any errors or rejections
Denial rate: percentage of claims that are denied by the payers for various reasons
Collection rate: percentage of the total amount billed that is collected from the payers and patients
Net collection ratio (NCR):Percentage of the total amount allowed by the payers that is collected from the payers and patients
Our medical billing company has the expertise, technology, and resources to handle all aspects of your RCM process. We can help you with:
- Coding and submitting accurate claims to payers
- Tracking and following up on claim status and denials
- Posting and reconciling payments from payers and patients
- Managing patient accounts and statements
- Providing reports and analytics on your financial performance