6 Benefits of using Optimal Revenue Cycle Management Solutions for Your Medical Billing
Should your office invest in an outside insurance billing service? We think these benefits might have you answering, “Yes!”
Handling your own billing process within your business doesn’t seem so bad, right? After all, how complicated can it really be?
Optimal RCMS can relieve the burden of in-house billing, so your office staff can spend their energy and time on what matters: patient care. In addition, billing experts – coupled with effective software – can help improve your cash flow, practice productivity and patient experience.
Take a look at these six top benefits of insurance billing services that can literally change the way you do business.
Benefit #1 Increased Reimbursements
We are experts in the chiropractic software and billing field. Our team has specialized training and a deep understanding of how the healthcare insurance system works – even in an environment in which the rules change on a regular basis.
What is the value of that to you? Your office will see a significant increase in reimbursements on average. These are significant numbers.
We also do the uncomfortable work of pursuing collections. Better yet, we succeed in doing so. Why leave uncollected money out there when we can help you?
Benefit #2 Quicker Claim Payments
When partnering with Optimal RCMS, claims are paid significantly faster. We know the ins and outs of dealing with a bureaucratic system including who to talk to, what questions to ask and how to get things done in a timely and effective manner. Optimal RCMS customers see claims paid in half the time with minimal denials (we take care of these too).
Benefit #3 Reduced Billing Headaches
It’s no secret that commercial and government rules are constantly changing. The truth is that it’s next to impossible for any single biller to have access to all the information necessary to stay abreast of every single change. Optimal RCMS will eliminate the hassles and headaches that come with those never-ending changes to insurance payers and Medicare. We stay updated on the constant changes and trends in the industry.
Benefit #4 Eliminate Billing Errors
Research shows that most practices flounder with insurance billing and collections, which can translate into hundreds of thousands of missed revenue. We reduce billing errors and your practice will maximize collections and increase your cash flow.
RevIntelligence.com reports, “About 90 percent of claim denials are preventable and can be corrected for payment, the Advisory Board reported. However, over one-half of claim denials are never resubmitted to payers.” Optimal RCMS will work hard to make you an exception to those stats.
Benefit #5 Steadier Cash Flow
Cash flow is KING! Is your cash flow inconsistent? Does it vary greatly from month to month? Have you come to accept that as the norm? With Optimal RCMS we include regular follow-ups on unpaid claim. In fact, upon deciding to do business with us, we will begin by reviewing up to 12 months of prior claims to maximize any revenues that you may have missed out on. We guarantee that your billing operations will become more efficient and revenue streams will be maximized and consistent.
Benefit #6 Payor Enrollment
- We own the Enrollment Company and employ only seasoned provider enrollment representatives. We can enroll your providers with any health plan you request (such as Aetna, Medicare, MediCal, Tricare, UHC and many more.)
- We track your enrollment progress through contracting with each payor you designate.
- The majority of billing services rely on the provider to orchestrate their own contracts which can lead to pure frustration on a provider’s behalf.
- Your cash flow can come to a grinding halt if claims are submitted and denied due to a provider who does not have a contract with a payor.
- We ensure our clients are contracted, recredentialed and stay current with all payors to allow for maximized reimbursements.
To start a conversation, please contact Rick Knutzen at (888) 745-1926 or by email to firstname.lastname@example.org.
**Read the full RevCycleIntelligence article here: https://revcycleintelligence.com/news/exploring-key-components-of-the-healthcare-revenue-cycle