What is Revenue Cycle Management?
Revenue Cycle Management, begins with the preliminary determination of a patient’s eligibility for a claim, proceeding to medical coding and collecting co-pays, efficiently managing the complete billing and payment collection cycle. At Global Healthcare Billing Partner, the entire process of claims management is accomplished in the shortest possible time and referred to as Revenue Cycle Management.
Improving cash flows for providers and quality of patient care, the Revenue Cycle Management at Global Healthcare Billing Partner is extremely efficient and involves remaining abreast of the ever-changing regulatory requirements; enhancing reimbursements; improving profitability and gaining the upper hand in a world of constantly changing payer rules.
A one stop solution for streamlined and integrated Revenue Cycle Management (RCM) services, Global Healthcare Billing Partner’ experienced team employs state-of-the-art, cutting-edge technology coupled with various work-groups to ensure seamless and accurate processing. Every aspect of the process, patient registration; data entry; EMR management; verification of patient eligibility; submission of a claim and; co-ordination with the AR-caller team is streamlined to ensure smooth revenue generation and improved cash flows.
More than 16 years in the field has rendered Global Healthcare Billing Partner well-equipped with necessary infrastructure and world-class resources for efficient service delivery.
RCM consists of:
- Patient registration
- Checking patient eligibility for an insurance claim
- Crucial data collection and data entry
- Coding as per revised guidelines like ICD-10 guidelines, automated billing and charge posting
- Electronic claim submission ensuring a high rate of first pass clearance
- Clearance of claim denials and effective denial management
- Automated e-payment posting
- Secondary filing and management of accounts receivable
- Avoiding Problems with RCM like miscoded claims
- Enhanced provider business viability with significant cost reduction
- Ensuring a zero-accounts receivable balance with completely paperless processing
- Advanced principles applied by credentialed professionals make a big difference to cash flows
Packaged as a complete solution for providers, Global Healthcare Billing Partner’ RCM services allow healthcare providers to focus solely on patient care, whilst it manages the entire billing and payment collection process for them. The revenue collection cycle is shortened effectively allowing health care providers to provide better services.