The healthcare revenue cycle sometimes feel like it is a puzzle you have to unlock. You have to figure out what all the moving pieces are, what terminology you have to use, and what will be the best thing for you to do. Gone are the days when billing and dealing with insurance companies is cut and dry and play by numbers. There is so much paperwork and even more phone calls that you have to make, sometimes at the expense of your patients, the happiness of your team, and your job satisfaction. That’s where healthcare revenue cycle management companies fit into your plan.
Healthcare revenue cycle management companies work to take some of your tasks away from you — filing insurance claims to collecting payments to reducing your days in AR. Whether you have a large or a small office, you will benefit from working with healthcare revenue cycle management companies.
Healthcare Revenue Cycle Management Companies and Improvement
As you work on keeping the front end of your office operating smoothly, you start to see patterns about the times you spend on specific tasks. Things like filing claims, talking about billing with your patients, and filling out forms take up a lot of time! While it might seem like a small task, when you add up how many times you have done it, these things take up huge parts of your day. Tendering payments, following up on claims, and asking why something has been denied by an insurance company are some of the most common activities and some of the ones that will take up your time. With healthcare revenue cycle management companies, we take over these roles.
One of the most common situations in the healthcare industry is that you have a claim rejection or a problem that you need to pay close attention to so that you can get paid. You have to keep the details fresh in your mind and keep track of what is going on – which is nearly impossible when you have other things going on. However, when it is the only job you have, it becomes easier. That’s why so many offices are turning to companies that offer healthcare revenue cycle management services.
Entrusting revenue cycle companies can be difficult because so much of your business relies on financial success, but over time you will see the difference.
Healthcare Revenue Cycle Management Companies
In today’s healthcare market, you need to work as quickly as possible to get what you deserve and to get what your patients deserve. The longer you wait, the harder everything becomes. Add to that the consistent need to update software licensing, hardware, continual training in technology, and maintenance costs and you start to feel like this is the biggest part of your job. Healthcare revenue cycle management companies give you a cost-sharing way to keep up your service and still keep your finances in line.
Think of working with a healthcare revenue cycle management company as a way to invest in the financial health of your company.
Healthcare Revenue Cycle Management Companies
Healthcare revenue cycle management is a sensitive subject because of the information that you receive and the situations you have to handle. That is why we hire only the best of the best to work on your management needs including experience certified coders.
Furthermore, we know that putting trust into an outside healthcare management company can be scary. That’s why we provide you with timely reports of how you are doing and reports that detail where you can perform better. This can aid in setting goals and tracking progress.
At the end of the day, you have to think about what is holding you back from providing the best possible service to your patients. Odds are, it is the “little stuff” that you have to do on a daily basis. Handing some of that over to healthcare revenue cycle management companies can really help to push you forward.
Revenue Cycle Management Help Physician Practices Make More Money
Simply put, Pulse Revenue Cycle Management helps physician practices by collecting more money! Pulse Revenue Cycle Management customers experience first time claim acceptance rates that average over 98%. And Pulse RCM customers realize an increase in their charges, a significant increase in receipts and fewer days in A/R — shorter payment cycles mean more money, faster!
