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Manage Your Revenue Cycle With 24/7 Medical Billing Services

Mar 17th 2020 at 5:16 AM

Revenue cycle management (RCM) is the financial process, utilizing medical billing software, that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance.

24/7 Medical Billing Services is here to help you save maximum possible revenue and get reimbursements for all the rendered services.

Our end to end RCM services consists of the following:

· Patient Appointments

We help in maintaining a smooth patient influx and operate clinic in an efficient manner. We fix appointments timely in an organized manner and reduce patient waiting time.

· Medical Eligibility Verification

We assist you to know the exact amount a patient owes in the form of Copays / Coinsurance / Deductibles. This also helps to reveal the patient’s payment history.

o Patient eligibility of coverage

o Amount insured for particular diseases & medical services

· Traditional & Latest Coding

Our certified coders (CPC, COC, CIC, CPC-P, CPM, CPMA, CPCO, CPC-H, etc.) take care of specific Specialties and ICD-10 coding. They assist in documenting with appropriate CPT and ICD codes and Modifiers.

We also educate the practice about procedures that can be billed together along with a particular treatment or accompanying medical services. At the same time, we ensure sticking to the coding guidelines.

· Demographics / Entry

The specialist billing experts take care of the demographics & charge entry. They help the medical practice to track the claims to understand when and where the claims go and keep them informed about the filing of claims within 24 – 48 hours.

· Quality Review

The Quality team monitors every process of the RCM cycle. Quality reports and analytics are shared internally with the team on a daily basis and with the client during the review meeting.

o Well trained staff for providing updates to clients

o Multiple layers of cross checking process

· Electronic Claims Submission / Rejections Resolutions

We maintain a 99% clean claim standard. The trends and analysis are shared with the Coding and Claims entry teams along with the client as per the client’s convenience / during the Review meeting.

· Payment Posting

The Payments received through ERA / EOB are posted on the system within 24 – 48 hours and the reports are reconciled on a daily basis. Denials are captured & moved to the Denial Analysis team.

Two levels of quality audit to make sure the process is at par with international standards

Trained staff who understands the patient responsibility too, like the Secondary balance, etc.

· Denial Analysis & Resolutions

Claim Denials are analyzed carefully and the root cause is defined for each problem. It is then escalated to the concerned teams to make sure the Denials are fixed & also ensure they don’t recur in future. Denial analysis is shared with the client once a week.

o Deal with Denials within 72 hours of receipt

o Detect the trend and track the percentage of Denials daily

o Meticulous system to avoid disruption in revenue inflow

· Accounts Receivable follow-up

24/7 MBS runs behind every dollar on the table. We have collected millions of untapped dollars when we took over new projects. We check with the insurance companies for outstanding claims over 30 days through AR calling. The trend and details of the Report are shared with the practice once in a week or a month.

· Monthly Reporting

24/7 MBS sends a monthly report with Financial summary, Procedure productivity, Collections reports (with the Adjustments). We provide details of Insurance-wise financials, Rejections, Denials and AR reports along with the practice Performance report.

To Know More About@

About 24/7 Medical Billing Services:
We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow physicians to attract additional revenue and reduce administrative burden or losses.

247 Medical Billing Services
Tel: +1 888-502-0537

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