We don't often brag about our products and services on this blog, but I think it's appropriate every once in awhile. In the past few months, we've been stepping up our response to Revenue Cycle Management customers' needs for comprehensive and effective billing. In addition to filing customers' claims, our team has undergone training and is on their way to accreditation for medical billing and further reduced denial rates.
Billing in general can be overwhelming to learn about when your professional training is in patient care, so medical billing would be a big addition to your to-do list. Hear how we've improved our RCM services and maybe you'll be intrigued to see how we could help your practice.
How Our RCM Team Will Support Your Practice in 2021
Prioritizing the Practice's Success
We can get your practice down to a 5.8% Denial Rate by Service Line for medical claims. That's 50% lower than the national average denial rate you might achieve with even an experienced in-house biller. This is largely due to our account representatives providing training and information to our offices to get clean claims out of the door the first time.
Our average reimbursement time (the time from the DOS of the claim to the date it was paid) is 7 days, whereas the national average is 18 days. This is due to excellent claims scrubbing and working with our providers.
Another reason our billing team works with your practice to make sure you can more effectively do your own billing is because our team only gets paid if you do. That's why we also provide learning resources to our customers so they can spot areas where they can increase revenue, especially if there are exams that practices are underbilling.
Medical Billing
After hearing about how various practices want to expand their medical scope, we knew we needed to effectively support their medical billing. Not to mention, medical claims typically lead to larger reimbursements. First, we implemented a new training plan for our billing team to become top notch subject matter experts on filing clean medical claims to prevent denials. Additionally, we've improved our process for filing claims for medically necessary contact lenses, which is a frequently underutilized piece of vision billing. Overall, we take a geographical look at your medical billing to see where exactly you're losing revenue.
Certifications
Getting your staff AOA certified involves expenses and time, two things many practices can't spare. That’s why we have mandated all RCM Account Representatives obtain their CPOC certification in 2021. This verifies the superior knowledge of our expert billers and provides our offices with the confidence that certified subject matter experts are overseeing their insurance revenue. This is just another way we insure your practice can focus on patients and feel confident that your insurance claims are in the best hands possible.
If you're interested in learning more about how RCM fits into your practice, schedule a consultation with our team.
