Revenue Cycle Management Services
“Simple, Reliable Revenue Cycle Management Solution for your practice.”
claims4medical helps you in reducing denials, speeding up payments, and with growth of your practicer.
Why Revenue Cycle Management Service is important?
Managing the revenue cycle is the main pillar of any growing practice. Without an efficient system there will be issues like billing errors, claim denials and delayed payments which could end up hurting your finances.
Our Revenue Cycle Management services will handle this process making sure you get paid accurately on time.
It takes your valuable time and resources to handle denials and unpaid claims. That is where our RCM services will help you in reducing errors and increasing practice reimbursement. We identify and fix the root causes of denials and help increase your revenue.
Features of Our RCM Service
Complete Revenue Cycle Management
We handle everything from patients registrations to verifying their insurance details to claim submission, and final payment. We take care of every step of the process involved in your revenue cycle.
Experienced and Certified Team
We have more than one thousand certified and experienced billing and coding experts, they make sure that everything is to the point so there are no denials.
Denial Management
We identify the root cause of denial and fix those errors and we resubmit the claims. We also optimize your billing process according to the patterns occurring in denials and fixing them so future denials are prevented.
Detailed Reporting
We provide simple and easy to understand reports to keep you updated on your practice's financial health and how we are improving it.
Customized Services for Your Speciality
We customize our RCM services according to your speciality needs. Whether you are a small practice or large healthcare we have the experience you need.
Compliance and Security
We keep the data safe by meeting all the compliance regulations needed according to updated policies.
Integration with Your Current System
We provide you the system which is easy to use and integrates with your existing practice’s system where it is EHR or EMR. This makes the process simple and smooth for your team.
Dedicated Account Manager
You will be given a dedicated manager who will be checking your RCM process from a to z. In this way, you’ll get live support, fast communication and solution to any billing issues that arise.
Benefits
30%
Increased Revenue
99%
Accurate Claim Submission
85%
Reduction in Denial Rates
91%
Collection Ratio
Revenue Potential
Achieve Up to 30% Revenue Growth with Medixflow’s RCM Services
Metric | In-House Billing | Medixflow RCM Services | Results |
Charges (on average) | $150,000 | $150,000 | |
Gross Collection Rate (GCR) | $62,000 (41%) | $80,000 (53%) | 12% increase in GCR |
Billing Costs | $7,500 | $5,000 | $2,500 decrease in costs |
Yearly Net Benefit (Monthly Gross Collection * 12 months) | $200,000 | $240,000 | $40,000 Increase |
Overall Collection Increase | N/A | 30% | 30% Revenue Increased |
Challenges that our RCM Service will Solve
Fixing Cash Flow Issues
We solve your cash flow problem by accurate and on time claim submission along with follow ups. This helps keep your finances steady and predictable by reducing underpayments and bad debts.
Simplify Your Account Receivable (A/R)
We manage your A/R and provide you clear insights into outstanding balances and how your collection is doing. We reduce the time it takes to get paid so your bottom line is improved.
Handle Payers with Ease
We manage all types of payers and claims and make sure your practice is fully compliant with all requirements, so you can make your payments without any confusion or delays.
Reducing Denials and Improving Recovery
We handle high denial rates by finding the root cause, fixing it. Our team makes sure to prevent the denials for future and if there still comes any denial we quickly handle the appeal process so lost revenue is received.
Reduce Your Admin Workload
We automate your process of claims and denials where the minimum time of your team is required on paper work. This reduced the admin time which they could spend on your practice care.
Increasing Patient Satisfaction
We make sure the patients know what to expect and clear estimated costs up front, so there are no surprises for them later. This increases their satisfaction level working with your practice.
Easier Patient Management
We provide patients estimated costs which they need to pay from their pocket directly from our automated software. This reduces confusion between practice and patient and makes it easy for them to manage their responsibility.
Our Process
Patient’s Registration
We collect accurate patient details.
Insurance Verification
We verify patient eligibility for required treatment from their insurance provider.
Medical Treatment
You provide medical treatment to patients and provide us documentation of diagnosis, procedure and treatment.
Medical Coding
We convert those documents into medical codes which are accurate and compliant.
Charge Entry
We prepare claims with charges according to medical codes assigned for diagnosis, procedure and treatment.
Claim Submission
We submit claims to the patient’s insurance provider without any delays.
Claim Processing
The Insurance company checks submitted claims and makes decisions for approval or denial and we track the claims so there are no delays.
Denial Management
If the claim is denied by the insurance provider, we find the root cause, fix them and then we resubmit the claim.
Payment Posting
Once the payment is received, we add it accurately in the software integrated with your system.
Patient Billing
We handle the patient billing by sending them bills for outstanding balance.
Account Receivable Follow ups
We follow up the patients on outstanding balances until they are cleared, so there are no delays in payments.
Reporting
We provide detailed performance reports to you regularly, which contain all the insights you need about your revenue cycle management.
Why Choose Claims4medical for Your Medical Coding Needs?
At Claims4medical, We serve medical practices nationwide (across all 50 US states), providing Revenue Cycle Management services according to your needs. No matter where you are located or which specialty you serve, we have a trained team who will simplify your billing and increase your revenue.
We have successfully served 68 medical practices till now, from cardiology and dermatology to orthopedics. No matter if you are a small clinic or practice with a large facility, we have got the talent to help you.
When you work with us, you get our nationwide network of support, qualified to handle your issues.
Contact Us Today!
Success Stories
Frequently Asked Questions (FAQs)
What is Revenue Cycle Management (RCM)?
RCM Is the process of managing finances of healthcare practice, which includes billing, coding, collections, and insurance claims. It makes sure denials are reduced, and your practice gets payment on time so there is stability in cash flow.
How Long Does It Take to See the Results?
Most practices see results within the first two to three months, and huge results come in six to twelve months because of optimized processes and reduced denials.
Is My Patient's Data Safe with Your RCM Service?
Yes, your data is completely safe with us because we follow all the regulations including HIPAA.
Can You Help with Both Insurance Claims and Patient Billing?
Yes, our services cover both insurance claims and patient billing.
How Much Does Your Revenue Cycle Management Service Cost?
Our pricing depends on the size and needs of your practice. Contact us for a personalized quote.
How Do I Get Started with Your RCM Service?
That is easy, just reach out for a free consultation.
