Optimize Coding Quality to Avoid Lost Revenue
According to MGMA, the most common reasons for delayed payments are no follow-up on denied claims and coding errors and these difficulties directly effect your practice’s financial health. Our medical revenue cycle management (RCM) outsourcing services are designed to help healthcare providers optimize their revenue cycle, streamline administrative tasks, and improve patient care.
The revenue cycle is a complex process that includes everything from patient registration and insurance verification to coding and billing. VSynergize leverages industry insights and best practices to help you manage the financial aspects of your practice, allowing you to focus on delivering quality patient care.
Optimize Coding Quality to Avoid Lost Revenue
According to MGMA, the most common reasons for delayed payments are no follow-up on denied claims and coding errors and these difficulties directly effect your practice’s financial health. Our medical revenue cycle management (RCM) outsourcing services are designed to help healthcare providers optimize their revenue cycle, streamline administrative tasks, and improve patient care.
The revenue cycle is a complex process that includes everything from patient registration and insurance verification to coding and billing. VSynergize leverages industry insights and best practices to help you manage the financial aspects of your practice, allowing you to focus on delivering quality patient care.
Why Outsource RCM services in Modern Healthcare?
Boosts Revenue
By outsourcing RCM services, healthcare providers can often see an increase in revenue as a result of improved billing and coding practices.
Enhanced Workflow
VSynergize’s RCM services can streamline the revenue cycle, leading to faster payment processing, reduced denials, and improved cash flow.
Ensures Compliance
Medical RCM outsourcing services are compliance experts and can help healthcare providers stay up-to-date with changing regulations.
Customized Expertise
Healthcare providers get access to a team of experts who provide guidance and support to improve revenue cycle management.
Boost Your Revenue Stream with Expert Medical RCM Outsourcing Services
Medical Billing and Coding
Our team of certified medical billing and coding holds years of experience with ICD-10-CM, ICD-10-PCS, CPT, HCC, and HCPCS coding. We can help you improve your billing and coding accuracy, and increase reimbursement rates under the latest medical billing and coding guidelines.
Denial Management
VSynergize provides a dedicated team of experts who can help you identify the root causes of claim denials. Our Medical Record Indexing helps you with managing Patient Demographics Sheets with Medical Insurance ID Cards and resolves any denied claims quickly and efficiently.
Accounts Receivable Management
Our accounts receivable management services help you manage and monitor your accounts receivable, ensuring that you are paid promptly. Our Medical RCM outsourcing services track outstanding claims and follow up with insurance companies to resolve any issues that may arise.
Financial Reporting and Analytics
From patient account creation to submission of a medical claim to an Insurance payer, you gain access to comprehensive financial reporting and analytics that enable you to monitor and optimize your revenue cycle. Our reporting solutions offer real-time visibility into your practice’s financial performance.
Why Work With Us?
The 2014 Black Book Rankings Survey revealed that medical practices that opted for outsourcing their medical billing reported a 6% boost in revenue. Additionally, the survey found that 90% of solo and small practices are considering outsourcing their RCM before the ICD-10 deadline.
Our medical RCM outsourcing services offer an efficient billing system that is designed to meet the unique needs of healthcare providers for successful financial health. At VSynergize, we utilize the most up-to-date technology and industry best practices to ensure that our clients receive exceptional service and support.
FAQ – Medical RCM Outsourcing
FAQ – Medical RCM Outsourcing
The costs associated with Medical RCM outsourcing vary depending on the scope of services, the size of the healthcare organization, and other factors. Providers can typically expect to pay a percentage of their revenue, which ranges from 3% to 7% on average.
Outsourcing medical RCM services can provide several benefits, including improved efficiency, accuracy, and profitability. Outsourcing can also help healthcare organizations stay up-to-date with the latest regulatory changes and reduce the risk of compliance violations.
When choosing a Medical RCM outsourcing provider, it’s important to consider factors such as experience, expertise, technology, compliance, cost-effectiveness, and personalized support. It’s also important to look for a provider that offers customized solutions tailored to your specific needs.
Medical RCM outsourcing providers like VSynergize typically use advanced medical billing software and technology, such as electronic health record (EHR) systems, automated claim submissions, electronic remittance advice, and patient eligibility verification tools.
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