Revenue Cycle Management

As a healthcare provider, you want to focus on patient care and outcomes, not worrying about revenue cycle management. That’s where 20/20 MD Billing comes in. We offer comprehensive revenue cycle management services that can help your practice operate more efficiently and effectively.

What is Revenue Cycle Management?

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.

Our RCM Services

At 20/20 MD Billing, we offer a full suite of revenue cycle management services to help your practice succeed. Our services include:

  • Patient registration and insurance verification: Our team will ensure that all patient information is accurate and up-to-date and that insurance eligibility is verified prior to the appointment.
  • Claims submission: We’ll submit claims promptly and accurately to avoid payment delays or denials.
  • Payment posting and follow-up: We’ll post payments and follow up on any unpaid or denied claims, working to resolve any issues quickly and efficiently.
  • Denial management: We’ll analyze payment denials and work to identify and resolve underlying issues to improve payment accuracy.
  • Reporting and analytics: Our team will provide regular reports and analytics to help you understand your practice’s financial performance and identify areas for improvement.

Why Choose 20/20 MD Billing for RCM Services?

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.