Revenue Cycle Management (RCM) is a financial process utilizing medical billing software that medical healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance.
PATIENT BENEFITS & ELIGIBILITY
The first step to any successful practice is to verify copay, deductible and effective dates of plan coverage. With us, eligibility is verified 2 days before a patient's scheduled visit and walk-ins are verified on the spot by our team.
Accurate record keeping for projections and reporting starts with posting of all charges for services rendered. We have an entire team dedicated to posting all reimbursements received at any and all facilities where services are rendered, including patient payments.
Our services include verification by experienced and certified coders of all entered and received coding information. The coding team will ensure all codes coincide with current regulation and within levels covered in patient visits.
With a continuous record of 99% accuracy, we are no strangers to accurate claim submission. Whether paper or electronic claims are needed, our team is ready to submit without delay, decreasing turnaround time for submission.
Billed Right is proud to say we are able to collect up to 94% of all claim charges we submit on your behalf. In addition, an entire team is dedicated to posting all reimbursements received at any facilities where services have been rendered, including patient payments. All payments received through EOB, ERA or checks are posted in your system for easy access.
ACCOUNT RECEIVABLES & DENIAL MANAGEMENT
Constant supervision of daily, weekly and monthly follow ups are conducted on all claims sitting for longer than 60 days. The denial team will appeal up to the 3rd level on all disputed claims and they will schedule follow-ups to work out any rejections or denials.
After all efforts for reimbursement have been exhausted, patient responsibility balances are mailed once a month, up to 3 times. If you are amongst the majority of the nation’s doctors, you may be missing out on about 1/3 of your revenue due to patient responsibility and you might not even know it. To combat this, each month we will send out 1 patient statement per patient to collect what is owed to your practice. We will do this up to 3 times.
Patient Representative to address inbound patient calls related to billing queries. If patients want to make payments, calls will be routed to your office. No payments will be received by our Patient Representatives.
Analyzing charges entered, payments received, return on investment, insurance refunds and providing the executive summary to help you scale for the future.