Comprehensive Practice Analysis for Optimal Revenue Cycle Management
Discover Hidden Revenue Opportunities
Is your medical practice operating at maximum efficiency? With our Free Billing Health Analysis, you can uncover vital insights into your billing and coding processes, revealing areas where revenue might be slipping through the cracks. Many practices are unaware that they could significantly boost their revenue with just a few strategic adjustments.
Our comprehensive analysis focuses on four critical elements of your RCM
2. Fee Schedule Maintenance
An updated fee schedule is crucial for maximizing revenue in your billing services. If not regularly maintained, your charges may fall short of the allowable amounts set by insurers, adversely affecting your revenue cycle. We review all insurance contracts and fee schedules, implementing necessary changes to secure the highest possible reimbursements. Leveraging quality measures can also enhance your negotiating power with payers, positioning your practice for greater financial success.
1. Practice Performance Analysis
In today’s dynamic healthcare environment, it is essential to regularly assess your practice’s performance from both clinical and financial perspectives. Keeping up with new regulations, coding changes, and fluctuating reimbursement rates is vital for making informed decisions. Our analysis provides a thorough evaluation of your current operations, ensuring alignment with quality-based and value-based care models that payers prioritize.
4. Provider Productivity & Reimbursement Analysis
Individual provider productivity is crucial for maximizing efficiency. By benchmarking each provider’s performance against peers and national standards, we ensure quality measures are met and enhance reimbursement potential through informed negotiations. This analysis also reveals opportunities for patient care improvement, benefiting both patients and the practice. Additionally, we routinely evaluate reimbursements to identify financial losses due to low reimbursement rates, enabling informed budgeting and effective negotiations with insurers.
3. Procedure and Modifier Analysis
The accuracy of procedure codes and their modifiers is essential for reimbursement success. Our certified coding specialists conduct a thorough analysis to ensure the appropriate use of codes and combinations, which not only boosts revenue but also mitigates audit risks. By comparing your coding practices to national data, we can identify services that may be underbilled or overlooked, leading to significant revenue increases. Additionally, we provide ongoing education regarding the correct use of modifiers, which directly impacts reimbursement in the billing process.
Contact Us to discuss your concerns
The Process of Practice Analysis
Initial Consultation: Fill out our no-cost, no-obligation form to initiate your analysis.
Data Collection: We gather essential data related to your billing, coding, collections, and accounts receivable.
Comprehensive Audit: Our CPC Certified Coding Specialists conduct a thorough review of your processes, focusing on practice performance, fee schedules, procedure codes, provider productivity, and reimbursements.
Feedback and Reporting: We provide a detailed report highlighting our findings and actionable insights. You’ll receive guidance on optimizing your current systems or confirmation that your existing processes are effective.
Implementation Support: If improvements are suggested, our team will assist you in implementing these changes to enhance your revenue cycle management.
Ongoing Relationship: We strive to build a long-term partnership, offering continuous support and analysis as your practice grows.