How to Optimize Healthcare Revenue Cycle Management?

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How to Optimize Healthcare Revenue Cycle
Management?

• www.ecareindia.com

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Revenue Cycle Management

• Revenue Cycle Management is one of the major
  processes in medical billing.
• RCM process is the primed for revenue
  improvement.
• RCM is the process of collecting and managing the
  business revenue from payers based on the
  services rendered.
• Successful revenue cycle management is required
  to keep up the financial viability.
• Lets discuss the revenue cycle management
  optimization.

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Medical Coding Billing 

• For a smooth revenue cycle, medical billing and
  coding should be done accurately and the claims
  should be submitted within the stipulated
  turnaround time as it directly impacts the
  practices revenue.
• Medical coding updates make the coding process
  more complex, For this reason, the medical coder
  should be regularly updated with coding
  procedures for each payer.
• Accurate coding reduce claim denials rate.

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Eligibility Verification

• Eligibility verification is the most significant
  way to optimize the revenue cycle.
• Verifying the patients coverage details with the
  payers is the initial step of revenue cycle
  management.  
• Any service rendered without taking an initial
  step of insurance eligibility verification, might
  leads to several complications to the billing
  company as well as their end client.

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Accounts Receivable Follow Up

• To maximize the practices revenue, you have to
  do patient follow up and denial management.
• Generate account receivable aging report. Based
  on that report, focus on the past due-
  receivables and act quickly with the help of the
  account receivable follow up team.
• Having consistent follow-up with patients
  enhances the reimbursement process.
• Denial management identifies the claim rejection
  reasons and resubmits error-free claims without
  any delays.
• The entire process is meticulously tracked by the
  AR follow up team until the claims get paid.

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Prior Authorization

• Prior authorization is one of the essential parts
  of the healthcare revenue cycle.
• Incomplete documentation and improper
  pre-authorization may lead to claim denials.
• Pre-authorization is the most important procedure
  to make sure timely reimbursement for services.

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Outsourcing Revenue Cycle Management

• Outsourcing revenue cycle management provides
  following
• benefits for medical billing companies
• Timely reimbursements, 
• Improves cash flows,
• Improves profitability and efficiency
• Streamlines operations
• Reduce billing errors
• Reduce claim denials rate etc.

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Revenue Cycle Management Optimization -Solutions

• Reduce costs
• Increase operational efficiency
• Eliminate redundancies
• Enhance the reimbursement
• Increase patient collections
• Improve patient engagement

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About e-care India

• e-care India is the top revenue cycle management
  company in India.
• We have 20 years of experience in the healthcare
  industry. Our company has twin certifications to
  ensure the highest PHI security.
• We provide medical billing and coding
  services and revenue cycle management that
  include insurance eligibility verification, denial
  management, account receivable management,
  payment posting, etc.
• We are experts in denial resolution, claim
  follow-up, claim appeal submission, etc. To know
  more about our services, visit us
  at www.ecareindia.com

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