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Key Advantages of Partnering with a Revenue Cycle Management Company

The revenue cycle management process for healthcare has many different moving parts. It begins when a patient first books an appointment for medical services and ends when all payments related to the services have been received by the provider.

However, the process in-between can be confusing for employees who don’t understand medical billing services. For example, proper medical coding must be used during the patient consultation. The patient’s medical chart must be accurate, and any notes properly accounted for.

How Can Medical Billing Companies in California Help My Practice?

A revenue cycle management company can help your medical practice ensure you collect payments from your patients and their insurance providers. Here are a few ways that they may assist:

1. Work with Patients to Gather Insurance Information Ahead of Time

Clients who schedule their visits ahead of time can provide their health insurance information upfront. A medical billing company can ensure that their insurance details are valid and that their coverage does extend to the patient’s upcoming visit.

This screening saves time for the physician’s office, which won’t need to gather the details when the patient arrives. It also provides the doctor with greater certainty that their claim will be accepted.

2. Ensure Accurate Claims Are Submitted

Claims that are missing information will likely be denied by health insurance companies. This denial can result in slower collections that affect the revenue cycle. Medical billing companies in California can assist your practice in ensuring that all claims are submitted according to the procedures set forth by the insurance provider.

3. Provide Software that Automates Coding and Insurance Verification

A medical billing company can provide your office with access to software that automatically ensures that each claim submitted to a health insurance provider has all of the information required.

This software can go a long way to improving the revenue process at your practice. What’s more, you won’t need to teach your staff how to use it — the medical billing company will be able to handle it for you.

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