Our Services
Revenue Cycle Management
Simplify Billing, Maximize Profits—Choose Practice Claim RCM, Revenue Cycle Management or RCM is critical to any healthcare practice if payments are to be effected appropriately and on time. At Practice Claim, your business’s specific needs in terms of RCM service are met, your financial work is made easier, your claims denied as little as possible, and your revenue optimized. We provide solutions for practices of all levels so that receivers of payments can completely concentrate on providing healthcare services, leaving the financial aspects to us.
Services We Provide
Accurate Data Collection: We handle the personal data of patients and their insurance, phone numbers, and other demographic data for billing.
Appointment Scheduling: Scheduling is done well in our systems and the problem of no-show and less practice time is well handled.
Eligibility Verification: We ensure that the patient meets the requirements to receive medical services and check for primary as well as secondary insurance coverage.
Prior Authorization: We monitor and review pre-approvals, and authorization to check for approvals on coverage.
Accurate Medical Coding: Most of our team members make sure that all the medical services provided are correctly coded to avoid denied claims.
Charge Capture: We properly document charges for services offered to make sure that you are taken care of as per the reimbursement terms.
Electronic Claim Submission: Choose to file your claims through electronic means to save time.
Claim Scrubbing: We detected errors before submission in order to minimize the number of denials.
Follow-up on Claims: We maintain records of the claims filed and regularly check on the insurance companies for processing updates.
Payment Posting: We process records based on payments, adjustments, and denials within the shortest time possible and efficiently.
Reconciliation: We confirm that the payments made are relative to the billed services and address the differences.
Denial Analysis: We determine the reason for denials and address them appropriately.
Appeals Handling: We prepare appeals for rejected claims to increase the amount of money received.
Patient Statements: We create concise and authentic patient accounts to facilitate early payments.
Collections Management: We eliminate accounts receivable outstanding balances and improve the flow when it comes to collections.
Comprehensive Reporting: We obtain special performance reports of finances and claims, as well as other payments.
Business Intelligence: Our team uses analytical tools to come up with decisions for practice enhancement.
Request a Call Back
Procedure: How Our RCM Service Work
Initial Setup & Data Collection
- We Gather patient data, insurance numbers, as well as other necessary information.
- Ensures that information is synchronized with practice management software for proper management.
Insurance Confirmation & Approval
- Check patient insurance ahead of the service so that the patient is not billed a surprise amount.
- Request necessary pre-certification for certain treatments.
Medical Coding & Charge Entry
- We assign correct codes depending on the services delivered.
- To make sure that all charges that are to be billed are paid, capture all relevant charges.
Claim Submission
- Make insurance claims online so that they receive a quick response from the insurance company or the insurance carrier.
- Correct claims for possible errors to minimize rejections before submitting them.
Payment Posting
- Keep a record of all the payments collected from insurance companies and clients.
- Compare the payments made to the billed amounts in order to find any differences.
Claim Rejection & Withdrawal
- We evaluate the possible causes of the denial of claims.
- And reprocess claims by accurately correcting wrong information and returning them as soon as possible.
Patient Billing
- We promote patient billing along with a clear explanation of all the charges.
- Our team monitors balances that are still due for payment and offers the customer an opportunity to agree on the terms of installment payment if the balance is too large.
Reporting & Analysis
- We prepare monthly, quarterly, and annual reports to detect the financial conditions of the business.
- Then we analyze the data collected to find out trends, areas of strength, and areas lacking in revenue generation.
What Makes Practice Claim So Successful as an ASC Billing Company?
We reduce repetitive tasks in your employees to make them dedicate their time and attention to patients. We reduce repetitive tasks in your employees to make them dedicate their time and attention to patients.
Benefits of Practice Claim’s RCM Services
Enhanced Revenue Collection
Maximize Reimbursements Improve customer satisfaction by decreasing claim errors; process and get paid quicker, and deny fewer claims.
Improve Cash Flow We consistently manage claims to ensure smooth cash flow.
Operational Efficiency
Streamlined Processes We reduce repetitive tasks in your employees to make them dedicate their time and attention to patients.
Reduced Overhead Costs There is no need for an extensive billing department within the company hence offering time and cost savings.
Compliance and Accuracy
Following Regulations In accordance with all the healthcare laws including HIPAA, our RCM processes are all legal.
Accurate Medical Coding Our certified coders also ensure that coding is accurate and no claim is rejected or subjected to an audit.
Data Security
HIPAA Compliance We follow the HIPAA standards ensuring patient information and privacy are protected.
Secure Systems It is easier to protect your financial data from breaches and fraud with our technology.
Increased Transparency
Regular Reports Obtain regular updates on your practice’s financial results.
Complete Visibility Learn more about each phase of your revenue cycle by using our adaptable dashboards.
Time Savings
Focus on Patient Care By eliminating administrative tasks you can focus on providing the best patient care.
Automated Tasks Use automation in daily tasks such as payment posting, denial management, and reporting.
Why Choose Practice Claim for RCM Services
1. Expert Team
We collaborate closely with our experienced team of Physicians, RCM focuses on bringing the best revenue for your practice. Our company has experience in dealing with numerous healthcare niches, and we respond to any billing requirements for your practice.
2. Cutting-Edge Technology
We are currently utilizing new technologies and exploring AI solutions that help to automate work such as adjusting and denying claims, as well as posting payments and reducing paperwork.
3. Custom Solutions
Every practice is unique. Our solutions are customized depending on your practice size, whether you are a small practice or a large healthcare setting.
4. Proven Results
We are proud that our previous experiences and performances also reflect our organizational capabilities. It’s evident that we have systematically been assisting practices to improve their revenue, decrease A/R days, and attain higher clean claim rates.
5. Dedicated Support
In addition, we are always available to attend to your questions and make sure the site runs efficiently at all times. You can always feel free to contact our team in case of difficulties with the work.
Frequently Asked Questions
RCM contains the process of monitoring a patient’s bill and the payment cycle of a medical care provider starting from registration to payment of the balance. It is designed specifically to help healthcare practices get the most from their revenue-generating activities.
Outsourcing RCM benefits from a cut down in workload, decreased costs, and fast and accurate processing of payment. Besides, it enables healthcare providers to pay more attention to their patients.
We strictly follow HIPAA laws to ensure that their information is safeguarded all the time. All our activities such as patient registration, appointment, treatment, and billing are well monitored to avoid leakage of information.
Yes, we have scalable RCM services that suit your practice’s exact needs, no matter how big or in what branch you work.
Our total financial solutions offer daily or weekly financial reports, claims status reports, and monthly analysis reports on revenue cycle efficiency.
