Healthcare revenue cycle management services
Stop leaving money on the table
Healthcare is about people. Patients, doctors, nurses, and supporting staff are the heart and soul of the industry. There is no healthcare without people.
Yet to operate at the highest level, organizations need revenue. More revenue means innovation, streamlined workflows, integration of new technologies, and improved patient outcomes. This is why efficient revenue cycle management is integral to the whole process.
Many healthcare providers get overwhelmed with the constant changes in regulation, EHR documentation requirements, insurance eligibility verification, and more, so they end up leaving chunks of revenue on the table. With our revenue cycle management services, you can cut out losses due to redundancy and inefficiency. Contact us and we can talk about it more.Contact Us
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What is revenue cycle management?
Revenue cycle management (RCM) is the process of tracking a patient’s entire move through the system. From the initial contact and registration to paying their medical bills, everything is tracked through the RCM system.
RCM bridges the gap between the medical side of healthcare (examination, tests, diagnosis, etc.) and the administrative side (patient information, insurance provider, etc.). Using a single system, especially when it’s connected to EHR, is an excellent way to move things forward.
However, since there are lots of moving parts, RCM can get messy. Insurance claims get denied, patient payments are delayed, and the time between medical services and paid medical billing increases. This revenue bottleneck affects financial performance and tends to get worse in time.
Revenue management solutions solve these problems and ensure healthcare organizations can operate smoothly and increase cash flow.
Why do you need someone to manage it?
Revenue cycle management is one of the most important aspects of a healthcare organization’s financial performance. And one of the most complicated.
Experienced consultants can give you a fresh look into your revenue cycle and find ways to optimize and improve it. Revenue cycle optimization is useful for most organizations in the healthcare industry – from small practices to academic medical centers.
Many healthcare providers use RCM systems but don’t utilize them to their full potential. There’s a ton of functionality that collects digital dust instead of streamlining the payment process and accumulating more revenue.
Better yet, consultants can help you create a seamless connection between EHR and RCM health systems. The connection will dramatically improve your organization’s workflow.
What are the benefits of revenue cycle management?
Revenue cycle management processes save a ton of time. RCM systems allow for lots of patient-facing features, such as pre-registration. This means the patient can fill out much of their information even before their appointment, saving time later on.
Connecting the RCM system to the EHR system adds clinical documentation improvement. Diagnoses and ICD-10 codes will also transfer automatically. Synchronizing both systems will save time and reduce the chance of errors somewhere along the way.
Healthcare providers often lack a dedicated billing department. Even if there is a billing department, they’re almost always overworked and understaffed. This results in low operational efficiency.
RCM solutions streamline billing processes and ease the load on billing and non-billing staff. This way, the medical staff can focus on treating patients while the billing staff has an easier time handling payments.
Revenue cycle management solutions allow you to pinpoint certain weaknesses in your medical billing and address them. Billing rarely gets the attention it needs and cash flow suffers as a result. Removing those weaknesses will help improve financial performance and optimize revenue.
Insurance claims are another field that usually needs more attention. Many claims are denied or disputed thanks to incorrect or missing information.
A well-optimized and integrated RCM system can help you avoid many of the pitfalls associated with insurance claims by ensuring everything’s been filled out properly before going to the insurance company.
Revenue cycle solutions are not only good for the organization, but they also increase patient satisfaction. Patients usually pay after the insurance claim has been submitted, processed, and paid.
This whole process can take quite a while if your revenue cycle isn’t optimized. And no one wants to be pestered about a medical bill for a procedure they had done months ago. Cycle management helps avoid such irritating situations by completing the billing process quickly and efficiently.
Not only that, but revenue cycle services can help improve healthcare practices. By increasing your revenue in an efficient manner, you’ll be able to afford to invest in technology solutions and get your healthcare organization to the next level.
Why Blue Eagle Consulting?
Blue Eagle Consulting has been on the market for nearly two decades. In that time, we’ve helped hundreds of clients, and we’ve accomplished a 96% success rate. That’s why we’re confident we can help your organization, too.
With our expertise across healthcare operations and EHR systems, we’re well-equipped to help you improve revenue cycle management. We can help you address root causes to improve efficiency, reduce variation, increase net revenue, and maximize the positive experience for your patients, your staff, and your physicians.
Our proven staffing and advisory services help you not only optimize your revenue cycle management but also improve the quality of care, revenue cycle integrity, compliance measures, and patient experience.
We take a holistic approach to healthcare revenue cycle management. This means creating revenue cycle transformation solutions and methodologies, as well as identifying and addressing the strengths and weaknesses of your organization’s administrative and clinical functions. We’ll help you improve your business operations and protect the income your healthcare providers work so hard to earn.
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Areas of Expertise
- Charge Capture
- Denial Management
- Business Intelligence (BI)
- Artificial Intelligence (AI)
- Data Analytics
- Dashboard Optimization
- Revenue Recovery
- Managed Services
- Case Management
- Utilization Management
- HIM Coding / CDI
- Registry Services