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Should You Co-source Your RCM Process?

By 247 MBS 5 months ago

Should You Co-source Your RCM Process?

By 247 MBS 5 months ago
Home  /  Co-sourcing  /  Should You Co-source Your RCM Process?

Should You Co-source Your RCM Process?

By: 247 MBS posted on April 15th, 2020 in Co-sourcing

 

Revenue cycle management is a vital aspect of healthcare facilities, one that helps to track the present financial status and enhances future financial performance. However, it becomes difficult to manage such a complicated process when many other essential activities are already going on in the facility. The process can also turn out to be inefficient due to errors in medical billing, revenue leakage, or unavailability of trained staff.

co-sourcing

co-sourcing

The world is suffering from the Corona virus Pandemic and hospitals and medical facilities are our last hope. This outbreak has pressurized the entire healthcare system and has affected its competency to manage diverse functions. These days’ hospitals and medical groups are facing a decline in revenues due to inefficient RCM, and thus co-sourcing the process is the best option.

Co-sourcing your Revenue Cycle Management will enhance the consistency and transparency of the process. You get a team of experts that will handle your entire RCM process efficiently and will work with you as an integral part of your organization. To be precise, your time and resources are used effectively and efficiently. With an RCM partner to take care of your day-to-day financial operations, you can now focus on your core medical services.

Apart from this, the professionals working with you will ensure timely reimbursements, with activities like verifying the patient enrollment, checking the insurance documents, and giving the right medical codes. The entire process is carried out without any errors and with utmost transparency. This will not only contribute to a smooth process and will also generate error-free uninterrupted cash flow.

Gone are the days when you were worried about hiring experts for the RCM process, we at 24/7 Medical Billing Services will ensure that you get the best solution available. Our team of highly experienced professionals will assist you in boosting your financial performance with round-the-clock availability. Our end-to-end service ensures that you save the maximum possible revenue and get reimbursement for all the provided services.

We know you would not like to spend your resources amidst this crisis, so we bring to you our services at an affordable price of $8 per hour.

Our Revenue Cycle Management services include-

  • Managing patient’s appointments and records
  • Checking up on patient’s insurances and eligibility for coverage
  • Providing documentation with appropriate CPT and ICD codes and modifiers
  • Keeping a track of your claims and manage them on a timely basis
  • Delivering quality reports and analytics that are prepared with multiple cross checks
  • Analyzing claim denials within 72 hours of receipt and finding out the root cause

Make us your Medical billing service partner now, experience a hassle-free, and smooth operation of your Revenue Management Cycle.

Visit our website to know more about us 

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  Co-sourcing