Revenue cycle management (RCM) by definition is the financial process that
healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance. An effective RCM system can reduce the amount of time between providing a service and receiving payment for it by interacting with other health IT systems, such as electronic health record systems and billing systems, as patients move through the care process. RCM systems can also save providers money by lessening the amount of denied claims and allowing patients to pay their bills online. Specifically, an RCM system can cut down on denials by directing healthcare employees to enter all the information required for claims processing, preventing them from having to revise or resubmit the claim.
At 20/20 MD Billing we help alleviate your office’s labor intensive tasks previously handled by employees such as filing claims, working unpaid claims, exclusions, denials, filing appeals, secondary insurance claim filing, payment posting, patient billing, & other revenue cycle tasks. We use exceptional and innovative billing and practice management software including Lytec, Greenway, and Medisoft that allow you to efficiently keep track of your claims. Our healthcare Revenue Cycle Management includes everything from determining patient qualification, coding claims accordingly, and obtaining payments.
By allowing 20/20 MD Billing to manage your accounts you are not only saving your business time and labor, but also increasing revenue and productivity.