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Interested In Reliable Medical Billing Service Provider For Proper Revenue Cycle Management

Added: (Fri Jan 18 2019)

Pressbox (Press Release) - Providing quality care to the patients and getting paid for rendered services are top two priorities for healthcare providers. It is also important for them to use a well-designed RCM or revenue cycle management system for maintaining a steady and consistent stream of revenue.
If the life of a patient’s account, from the time the case opens to the time of final payment isn’t managed effectively, your practice will keep struggling in terms of revenue. There is a strong need to incorporate RCM processes as part of the overall business strategy if you wish to improve reimbursement rates. If you are getting paid on time, your clinic will function in an effective manner which in turn will help you provide better medical care to the patients.
RCM, the process of managing a practice’s claims processing, compensation and profit generation activity is very important for healthcare providers. The fact that insurance companies reject 26% of submitted claims, causing approximately 10% loss per physician, the need for a proper revenue cycle management increases. Only when practices have a proper RCM system in place, it will become easier to reduce bad debts write-offs.

Is your RCM streamlined?
If not, then you need to make necessary changes and ensure that your billing and accounting department are on the same page. This will help you avoid discrepancies every time a bill is sent to the patient. Having a streamlined RCM will reduce denial rates, increase average % of claims that are paid after 1st submission, boost the percentage of clean claims, improve net revenue of your practice, bring down outstanding A/R and ensure faster claims payment.
A well-designed RCM system will simplify the process of billing and help your practice get paid on time. Since the responsibilities of RCM can be complex and overwhelming, many practices prefer to outsource this task to a billing company. From handling A/R follow-ups to ensuring accuracy in billing, a reliable billing partner manages every aspect of the practice’s revenue cycle.
So if you also wish to improve quality of care without having to worry about handling your revenue cycle challenges, and then make sure you are hiring a reliable billing company. A company specialized in revenue cycle management will surely help you enhance your cash flow as well as workflow.

About 247 Medical Billing Services:
We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow physicians to attract additional revenue and reduce administrative burden or losses.

Contact:
247 Medical Billing Services
Tel: +1 888-502-0537
Email: info@247medicalbillingservices.com

Submitted by:247 Medical Billing Services
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