Revenue Cycle Management Services
The foundation of revenue cycle management for physician practices and healthcare organizations is cash flow and revenue, regardless of whether the provider is a physician or an ancillary one. By using RCM, healthcare institutions improve patient satisfaction, boost their reputation, and stop overcharging their patients. Since an effective service provider is essential to achieving the intended outcomes, both your physicians and your RCM partner have direct responsibility for the financial well-being of your medical practice. The time it takes to get claims reimbursed can be reduced with an effective RCM procedure. By integrating with medical billing systems, it serves as a link between rendering a service and obtaining insurance reimbursement. Assessing the need for reliable revenue cycle management systems is more crucial for practices.
IMedCodes Medical Revenue Cycle Management Service
Payments for services rendered to patients are generated and collected by our Medical Revenue Service. It is a comprehensive RCM solution that handles all end-to-end RCM tasks, including insurance verification, patient registration, coding, billing, and collections. For the physician's medical center to have better financial results, our RCM billing company improves the revenue cycle.
We offer services that encompass the entire revenue cycle, beginning with patient pre-authorization. These services include thorough insurer eligibility checks, simple claim submission, and precise payment posting. Our primary objective is to ensure that each step of the process is as precise and effective as possible, ultimately generating the highest amount of revenue for your clinic.
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Medical Billing
Our professional billing consultants work alongside healthcare providers to help them achieve billing success. We become fully immersed in your practice to identify opportunities for lowering denials and expediting payments.
Our medical billing consulting group offers the tactical support and strategic guidance required to optimize staff skills, technology, and billing processes. With our consulting solutions, every practice is positioned to thrive through improved medical billing. iMedCodes is a medical billing help company that offers medical billing consulting services.
Medical Coding
Since the Affordable Care Act (ACA) law requires healthcare providers to provide patients with information about the medical services they receive and the associated costs, accurate medical coding has become essential.
Our certified coders at iMedCodes assign the appropriate standardized codes after reviewing medical documents. This clinical coding knowledge guarantees prompt and complete reimbursement of your claims. Not having to submit a service and then wait months for payment due to a code error is over.
Account Receivable
In the United States, accounts receivable are seen as a significant obstacle to the financial expansion of any medical business. The burden keeps growing as a result of the alarming number of claim denials and the numerous unclaimed medical services.
As a result, the entire medical practice's financial situation deteriorates, and its general operations show stagnation. The medical billing professionals at iMedCodes are providing medical practices with robust Account Receivables Management services to address this issue and support expansion.
Credentialing & Enrollment
Credentialing, sometimes referred to as insurance credentialing or doctor credentialing, is the process of confirming a healthcare provider's credentials, abilities, and legality. This procedure guarantees that the practitioner possesses the required training, credentials, and licenses to offer patients healthcare services.
The greatest healthcare credentialing solutions are provided by the medical billing firm iMedCodes. From enrolling in premium payer networks to verifying primary sources, our experts take care of everything for you. We complete all of this with the least amount of time and money.
Denial Management
One of the most important components of revenue cycle management is thought to be denial management. Medical providers and billing businesses use it as a backup plan to appeal refused claims that resulted from mistakes made in the early stages of the revenue cycle.
The significance of A/R Management cannot be overstated, which is why iMedCodes has a dedicated team to handle any denial claims. Healthcare providers must, however, put more effort into ensuring low accounts receivable with appropriate appeals and claim reimbursements.
Practice Management
Our proactive follow-up services are intended to improve healthcare providers’ accounts receivable management. We help providers cut down on the number of days accounts are past due by putting in place customized solutions, which improves cash flow and stability.
Our strategy includes locating and resolving underlying problems, such as billing inconsistencies, coding errors, or missing paperwork, that lead to payment delays. We speed the resolution process, assuring timely payment collection and lowering the risk of revenue leakage, by diligently following up with patients and insurance entities and keeping those communications up to date.
Payment Reconciliation
When insurance claims are processed, an Electronic Explanation of Benefits (EOB) or remittance advice is automatically generated. Comprehensive details regarding benefits awarded or refused in connection with the provided medical services are included in this document.
Our team of experts carefully reviews these EOBs to ensure that they are accurate financially and follow best practices. This inspection includes a detailed examination of overpayments, recoupments, and reimbursements to ensure that all financial transactions meet the particular requirements of the profession.
Eligibility Verification
In general, eligibility verification is quite important to a medical practice. Reports indicate that errors or inaccuracies in the healthcare providers' eligibility verification of patients account for between 70 and 75 percent of claim denials.
This demonstrates that the majority of practices continue to overlook their eligibility verification procedures, which has resulted in claim denials and delays. However, iMedCodes is offering a solution to medical practitioners. Our physician and private practice eligibility verification services are designed to provide you influence in the medical billing industry.
Patients Scheduling
A key component of providing healthcare effectively is efficient scheduling. A well-run timetable guarantees prompt patient care, optimizes the use of available resources, and raises patient satisfaction levels overall. However, given the complexity of contemporary healthcare, it might be difficult for healthcare providers to keep an ideal timetable.
Our method is intended to transform patient scheduling for medical professionals by simplifying the entire procedure and ensuring a productive and seamless experience for both parties.
Payment Posting
One of the most crucial and initial steps of overall revenue cycle management is the payment posting procedure, even if it is a simple task in medical billing. A medical practice must identify and handle possible issues early on in order to save time and minimize hassles.
There are two types of payment posting, Manual & Suto posting, we at iMedCodes, dealing in both major types to cover all the needs of our clients.
Claims Scrubber/Validation
Medical claims must be kept clean for revenue cycle management to work. Since human error plays a significant role in claim denials, it is crucial to carefully verify claims before submitting them. By ensuring accuracy and completeness throughout the validation process, healthcare providers can significantly reduce the likelihood of claim denials. This will increase financial stability and optimize revenue streams.
In this situation, iMedCodes makes the revenue cycle more smooth, giving you more time to focus on delivering top-notch medical care.
HealthCare SEO
From planning to implementation to optimization, our healthcare digital marketing solution oversees all aspect of your healthcare facility's digital marketing activities. Our professionals assist you in reaching and interacting with your target audience, building a powerful online brand identity, and increasing leads and conversions.
We can assist you with reaching your target audience and expanding your business, regardless of whether you require a website, advertisement, content, or social media strategy. Get in touch with us right now, and let our innovative solutions support your success.