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Medical Billing Services & Revenue Cycle ManagementRevenue cycle management in medical billing – Shorter cycles mean more money, faster. You can count on Ideal Billing Solutions to meet your demands. No matter if you are from New York, Florida or California, we are the right medical billing company that you have been waiting for. Many medical billing companies only do billing in their home state. At Ideal, we do billing in all 50 states. A benefit to no matter where your practice is located. Revenue cycle management (RCM) covers the life of a patient’s account, from the time the patient walks in the office door for treatment, to the physician’s receipt of payment due for services. It encompasses all administrative and clinical functions and tasks like determining a patient’s insurance eligibility and collecting co-pays. Ideally, full payments would be received in 30 days, but this does not always occur. This is the prime reason revenue cycle management has become so important to physicians. Revenue cycle management activities are best handled by someone trained to do this kind of work, usually a medical billing service company. Many group practices hire an outside company to manage their RCM. Medical billing services are the logical choice for this function, as they are mostly comprised of employees who already have a talent for numbers and for following schedules and adhering to deadlines. Your revenue cycle will shorten when you have a professional medical billing company working for your practice. They will be successful most of the time in securing collections more quickly because they are dedicated to the task, especially accelerating the difficult, aging accounts that increase your revenue cycle, by months sometimes. These are the accounts a skilled medical biller is trained to work on. The much talked about term, revenue cycle management, is simply the idea that practicing physicians want to get the most amount of money owed to their practice into their practice bank account as soon as possible after the medical service for the patient is performed. If that sounds a little “business-speak” to you, you’re right, it is.
But let’s face it. Neither you nor your medical office staff are trained to perform this kind of work. Frankly, it’s best left to people with a head for numbers. That’s where Ideal Billing can give you the expertise you need to get your revenue cycle current and the money you are owed as quickly as possible.
There is no need to give up control of your practice. Simply set your expectations and parameters with Ideal Billing in an exploratory meeting, then relax and let the experts at Ideal Billing service improve your revenue cycle while you let go of this worrisome task.
What will Ideal Billing do for your practice? The first thing, actually, we cannot do for you, and that is for you to obtain insurance or payer information at the first point of patient contact so the revenue cycle can begin. If you can verify this information, correct erroneous information and determine who is responsible for payment not covered by insurance, your practice will be ahead in revenue cycle management from the start. Ideal Billing will then have the information we need to obtain payment to your practice if it is not forthcoming in a timely manner.
Next, Ideal Billing will provide electronic charge capture. This is the most efficient and seamless way to transfer charges to a patient from his or her electronic health record and into your practice management system accurately and quickly.
Ideal Billing also performs charge entry and review. The vitally important task of using the correct billing code and related charge for the service is a key function in this step. Once that is done, iDeal Billing will recheck it for accuracy so incorrect codes or charges do not need to be corrected later, adding time to the revenue cycle.
Automated claims processes are the biggest time-saver a medical billing service can provide a practice. At Ideal Billing, electronic claims submission including secondary claims directly to the payer, electronic payments and electronic funds transfer are offered at a cost-effective price, and timed to speed up the revenue cycle, usually only possible by automating the process.
Our staff is also tenacious and determined when following up on denied or unpaid claims so they do not linger on your books. Ideal Billing will provide you with regular problem notification via a web-based dashboard that both Ideal Billing and you will have access to. We also handle patient billing and inquiries, and when necessary, collection agency reporting, credit balance and refunds management, and provide you with custom financial reports for your information.
With all this service available to you for a cost-effective price, why are you not an Ideal Billing customer yet? Give us a call today. We look forward to hearing from you and to meeting all of your practice’s financial requirements in one place – Ideal Billing Solutions.
- Did You Know that the #1 Complaint that Doctors Have is that They Spend More Time Filling Out Paperwork then They do with Their Clients?
- Doctors that outsource their medical billing to Ideal Billing Solutions say that they worry less about the bills and focus more on patient care.
- Dedicated Team of Professionals with Service Managers on Site.
- Ability to Contact Us 24 Hours Daily.
- Payer Fee Schedule Analysis.
- Contract Negotiations for optimized coverage rates.
- E&M Coding Feedback Consultations to Increase Cash Flow.
- Month End Physician Consultations so that You Can Increase Your Cash Flow.
- A Top Medical Billing Company in the United States.
- Focused Audit Requests to Increase Cash Flow.
- Ask Us Any Question About Your Account on a Daily Basis.
- Our Clients Stay with Us Because We Deliver Results Fast.
- Medical Billing Services for All Types of Medical Practices.
- An Educated Staff that Understands ICD-10 Coding.
- We Service All 50 States.
- Full Time Staff of Medical Billing Experts.