Revenue Cycle Management Solutions
All small practices, hospitals, and bigger healthcare systems are known for treating patients and saving lives. Also, every healthcare practice or organization needs to create successful procedures and policies for staying financially healthy. Here, the healthcare revenue cycle management plays an important role to simplify administration for medical institutions, especially for hospitals. It helps to manage clinical and administrative functions related to payment, claims processing, and revenue generation. Practically, a healthcare revenue cycle management flow chart is the strategy that healthcare organizations generally adapt to pay the bills.
What is HealthCare Revenue Cycle Management (RCM) Outsourcing?
Outsourcing Healthcare RCM to Bikham covers all-inclusive healthcare and medical services; starting from pre-registration to scheduling of appointments, including medical billing and coding. We have acquired years of expertise in the domain of revenue cycle management to deliver high quality and cost-effective services to our clients.
Our specialized team at Bikham strives to achieve other benchmarks such as enforce accurate policies; streamline revenue flow; go after underpayments; facilitate compliance with regulations; deploy time-sensitive bandwidth; and improved acceptance/denial ratios. We have maintained our turnaround times between 24-48 hours so that our clients are assured of timely, accurate, and balanced results.
Revenue Cycle Management Solutions
- Whether you are an independent physician or a healthcare service provider, at Bikham we’ll provide you needful support and services to meet your precise healthcare requirements.
- Outsourcing your Revenue Cycle Management flow chart to our professional team can result in to a more advanced and cost-effective medical billing procedure which will help to minimize the current write-offs along with speed-up revenue generation cycle as well as building an enhanced patient-provider relationship.
- Our advanced and affordable RCM services and solutions comprise of medical billing and medical coding, medical insurance claims processing, which primarily focus on the needful data quality and accuracy in the healthcare industry.
- Our specialized team assists in collecting payments on submitted claims; boost the revenue from low paid claims, and consistently follows-up with insurance companies for faster settlements. Additionally, we provide support for the medical billing and coding. Overall, we offer entire patient registration along with the eligibility verification which streamlines the processes right from the beginning.
Our Keys Steps during the Process of Revenue Cycle Management Includes;
Registration of Patients
- As a reliable service provider, we assist you in the registration of your patients’ information and demographic data.
- We deal with all data entry work related to the patients’ personal and needful insurance details. Finally, we verify and validate the essential information related to patient’s treatment.
- After completion of all above procedures, the patient’s registration process is over.
Generation & Submission of Claims
- We manage and handle submissions of essentially both electronic and paper claims. Our experts not only organize Explanation of Benefits (EOBs) but also submit the essential claims to the concerned medical insurance company.
- We work in accordance with the timely restructured healthcare standards along with the methodologies produced by CMS, Medicare contractors, AMA, medical societies, and federal organizations.
Capturing of Charge
- We depute a separate specialized team to manage and process charges for various medical specialties. Our team has a good far-reaching experience in Capturing Charge to get better results, including:
- Third-party liability
- Medicare and Medicaid services
- Effectively managed medical care
- Reliable and trusted provider for Healthcare organizations
- Assured insurers
- Workers Compensation
Posting of Payment
- Our dedicated team of experts ensures prompt and accurate posting of all the essential payments into the billing system. Moreover, we undergo frequent auditing of all posted payments; provide assistance to minimize errors that occur in different medical processes while capturing the essential information.
Denial Management Services
- We have special expertise to manage and assist denied claims that involve proper analysis of data, correction, and re-submissions.
- Our denial management process involves proper identification of denials by utilizing revenue coding as well as essential CPT/HCPCS codes.
- Once all above needful tasks are over, finally, various reasons for the denials are investigated and analyzed to produce a comprehensive denial management report.
Accounts Receivables Services
- We assist physicians in identifying the needful patient accounts that require regular follow-ups and essential actions to recover unpaid or underpaid claims.
Our Additional Solutions for Big Medical Organizations/ Hospitals involve:
- Analyzing the reasons for denials of claims
- Utilization of ICD-9 and CPT codes
- Examining Claims Authentication
- Collections of Accounts Receivables
- Entry of Charges as well as Payment Posting
- Capturing and Coding of Actual Charges
- Regular Follow-Up of Insurance Co. and Patient
- Management of Claims Denial
- Follow-up of Pending Claims
- Analyzing Accounts Receivables and Payments
- Accurate and Regular Reporting
- All types of needful data adjustments and modifications
- Quick Payment Process from Diverse Payers
- Maintenance of Credit Balances and Payer mix
- Enrolment of Provider and Attestation
As a reliable Revenue cycle management flow chart outsourcing partner, we also assist and support healthcare providers with the preparation of monthly reports that help in managing the needful cash flow for enhanced profitability.
Streamline Cash Flow
With many years of experience and talent, we have the whole capability to be the perfect outsourcing business partner for the overall growth of your health care practices.
We provide top-notch Medical Revenue cycle management flow chart services with following key benefits:
- Complete access to a team of specialized professionals.
- Better savings on overall medical operating costs.
- Get improved revenue collection according to the HIPAA compliant procedures.
- Round the clock access to our services to ensure more rapid turnaround times
- Regular follow-ups of Insurance Cos. and patients to boost payment collections
- Implementation of advanced technologies for improving business process
- We follow stringent protocols in place to preserve Protected Health Information (PHI) and other required business related data.
Conclusively, as a reliable and committed Revenue Cycle Management outsourcing partner, we dedicatedly work on the larger fronts for steady and predictable outcomes from all the corners. At Bikham, we believe in building a long-lasting relationship with your company by providing needful and effective Revenue cycle management flow chart support services to further enhance the much-needed profitability of your business.
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