Secure Long-Term Financial Health by Outsourcing RCM Services
Efficient revenue cycle optimization and A/R management reduce the time it takes to collect payments, leading to quicker revenue realization, improved cash flow, and financial stability. Additionally, outsourcing RCM reduces administrative workload and the costs associated with in-house billing staff, training, technology investments, and overhead.
Our revenue cycle management services streamline the complex processes involved in patient care, billing, and revenue collection. We help large practices, independent physician offices, billing services, pharmacies, and hospitals achieve -
- Higher claim approval rates
- Faster claims processing
- Faster payment cycles
- Effective denial management, with reduced claim denials and rejections
Key Components of Our Revenue Cycle Management Services
Patient Registration and Data Entry Service
Proper registration is crucial for verifying patient identity and eligibility, reducing billing errors, and improving overall operational efficiency. Our patient registration and demographic entry service ensures accurate documentation of patient information. It includes essential details, like personal information, insurance data, and consent forms.
Insurance Verification Service
To validate patient insurance coverage while reducing claim denials and billing discrepancies, we verify policy details, including coverage limits, eligibility, benefits, co-payments, and deductibles. We also assess treatment eligibility to ensure that it aligns with the patient's insurance plan and medical necessity criteria.
Medical Records Indexing Service
Each medical document is indexed by relevant criteria such as date of service, patient demographics, medical history, treatments, and diagnoses. This indexing process enables quick and accurate retrieval of patient information, helping healthcare providers and RCM specialists make informed decisions.
Medical Coding Service
Accurate and compliant medical coding improves revenue cycle efficiency by ensuring claims are correctly billed and reimbursed. With certified coders specializing in ICD-10, CPT, and HCPCS coding systems, we reduce the likelihood of claim denials and rejections and minimize compliance risks, avoiding potential fines and penalties.
Medical Charge Entry Service
Accurate charge entry ensures that all medical procedures, treatments, and services provided to patients are billed correctly, reducing the risk of errors and claim denials. By streamlining charge entry and adhering to coding standards and payer requirements, we improve revenue cycle efficiency, minimize billing errors, and expedite claim submission.
Healthcare Claim Submission Service
Our team compiles and submits claims to insurance providers in accordance with payer-specific requirements, medical coding guidelines, and regulatory standards, thus minimizing the risk of denials and delays. This way, we help ensure timely payments and improve the overall healthcare billing and revenue cycle management process.
A/R Follow-up & Payment Posting Service
Payment posting is a crucial activity within the A/R process. We document all payments received from insurance provider companies, adjust account balances to reflect the same, and identify discrepancies. This ensures accurate financial records, helps track revenue, and enables you to identify payment issues for resolution.
Claims Denial Management Service
Our team identifies the root causes of denials, whether due to coding errors, eligibility issues, or documentation deficiencies. We then implement targeted solutions to address these issues, including appeals, re-submissions, and process improvements. By minimizing denials and maximizing reimbursements, we help improve cash flow.
Other Back-End RCM Activities
Get assistance for every task related to the revenue cycle management process and reduce your administrative burden. From electronic health records (EHR) integration for accurate charge documentation to providing detailed financial reports and healthcare analytics to track revenue cycle performance, we can offer help wherever needed.
Related Insights: Healthcare Revenue Cycle Management Outsourcing Services
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Why Choose SunTec India as your Revenue Cycle Management Company
- HIPAA-compliant healthcare revenue cycle optimization company
- Proficient in medical coding systems like ICD-10, CPT, and HCPCS
- Demonstrated experience in handling RCM for large healthcare organizations
- ISO 27001 and ISO 9001 certified, ensuring sensitive patient information protection
- Recognized by GoodFirms as Best Company to Work With
- Dedicated project manager and real-time resource/task updated through a proprietary employee tracking system
Healthcare Revenue Cycle Management (RCM) Services: FAQs
1. How much do RCM Services cost?
The cost of RCM services varies depending on the scope of services and the size of the healthcare organization. Contact us at info@suntecindia.com for a customized quote based on your specific needs.
2. Do you also offer A/R management services?
Yes, we provide comprehensive healthcare A/R management services, including tracking outstanding balances or delayed payments, following up on overdue accounts, and implementing strategies to reduce A/R days and improve cash flow.
3. How often should we conduct internal coding audits?
We suggest that internal coding audits be conducted quarterly to ensure accuracy, compliance with regulations, and to identify and rectify any coding errors promptly.
4. How will you measure my revenue cycle performance?
We measure revenue cycle performance through detailed financial reports, key performance indicators (KPIs) such as claim denial rates, days in A/R, and reimbursement rates. This data is also presented to you through custom visualization dashboards.
5. What are the terms of your SLAs regarding response times and issue resolution commitments?
Our SLAs include guaranteed response times. The window for responding to low, medium, or critical issues is determined after discussion with each client. Depending on client preferences, this window can vary from thirty minutes to hours/days.
6. How do you handle confidential patient information?
We are an ISO-certified revenue cycle management service provider. We also sign non-disclosure agreements (NDAs) and conduct periodic security reviews to protect sensitive/confidential data.
