Revenue Cycle
Management Services
Healthcare Revenue Cycle Management (RCM) with Medico Tech can save you time and keep you consistent in delivering end-to-end patient care.
What is Revenue Cycle Management (RCM) in Healthcare?
Revenue Cycle Management is simply more revenue coming in with reduced claim denials. It’s a process which starts when a patient visits the healthcare provider for treatment. If the patient has an active insurance plan, the facility will require Medical Billing, Medical Coding, and Credentialing Services, especially if they are not enrolled with the insurance provider which the patient has signed up for. All these processes collectively form healthcare revenue cycle management.
RCM Importance To A Healthcare Provider
Revenue Cycle Management (RCM) services ensure that healthcare providers receive full and timely payments for patients’ medical bills. RCM helps increase revenue, reduce errors and payment delays, and maintain consistency, allowing providers to focus on their patients, which is their specialty. So, what is holding you back? Let’s connect and grow together.
Outsourcing Revenue Cycle management Services To Us
Every provider in the USA is looking for an easy way to manage their administrative burdens and focus on their part, which is treating patients, something they studied and specialized in. So, who is going to manage their billing, coding, and other administrative tasks with efficiency, proficiency, and minimal claim denials? That’s where you can count on Medico Tech. We have professional, certified, and well experienced staff to streamline processes like credentialing, medical billing, medical coding, and more. Outsourcing to us can save you time and money.Talk with An
Expert
Our RCM Services
We Deliver What Others Promise.
Accuracy
No one can guarantee perfection, but we promise to give our best to make your work smooth and hassle free for you with our accuracy. To us accuracy means increased revenue, zero errors, fewer claim denials and being consistent.
Error Elimination
Working in this industry for 10+ years, with qualified and experienced staff, has helped us provide error free services for our clients, and we intend to continue doing so in the future.
Rules & Regulations
You can trust us as a business and as a patient. We handle your data and financial records in accordance with HIPAA regulations. We operate with consistency and transparency, maintaining a clean record for both you and us because when you grow, we grow.
Steady & Consistent Cash Flow
The more efficient the system is, the steadier and consistent the cash flow will be. With us you will be receiving on time payments. Our streamlined revenue cycle management services minimizes claim denials and ensures timely reimbursements. Which will eventually improve your bottom line.
Payment Processing
Outsourcing revenue cycle management in medical billing can sometimes be complex, directly affecting payment processing time. However, at Medico Tech, we have a solution with pre-registered payment methods for insurance companies, ensuring fast and seamless payment processing, saving you both time and money.
13 Steps Of Revenue Cycle Management
Patient Registration
Initial step of the healthcare RCM is to collect and verify a patient’s demographic, insurance details, and personal information before the provider’s appointment.
Insurance Verification & Eligibility Check
For the patient to be treated by the practitioner under insurance, the provider must first verify whether the patient is receiving benefits from the company. Otherwise, the provider may face claim denials, and the patient will be billed directly.
Appointment Scheduling & Pre-Authorization
There is appointment scheduling for patients’ preference, providers’ availability, and to ensure that pre-authorizations are obtained for specific treatments or procedures, as some insurance providers require approval before covering certain services. Failing to secure authorization can lead to claim denials and payment delays.
Patient Check-In & Co-Payment Collection
During patient check-in, other than verifying the patient’s identity and insurance details, the facility staff also checks for any co-pays, deductibles, or outstanding balances. This is an important step in the RCM process to ensure accurate, transparent billing and reduce payment delays.
Medical Coding
Medical coding the process of converting treatments into alphanumeric codes for billing and documentation. Once the patient has received proper care and treatment, the providers assign accurate CPT, ICD-10, and HCPCS codes to the patient’s diagnosis and procedures for proper billing.
Charge Capture
Our RCM services before submitting claim submissions, we check and verify if all billable procedures are correctly recorded for claim submission to reduce denials and maximise the revenue.
Claim Submission
After completing all checks on our end, we submit clean claims electronically to insurance providers with accurate patient information and details of the services they received from you.
Claim Scrubbing & Edits
In our RCM services, we also review claims for errors and missing information to minimize denials by claim payers.
Insurance Follow-Up & Denial Management
RCM medical billing process in whole is a time consuming process, and regular follow-ups help in addressing denial management. Corrected claims are resubmitted, and appeals are filed if necessary.
Patient Billing & Statement Generation
To fill any gaps in payments, we generate and send bills for any outstanding balances to patients after insurance payments. Our proactive approach facilitates timely collections while maintaining compliance with RCM best practices.
Payment Posting
Apply payments received from insurance companies and patients to the correct accounts to maintain up-to-date financial records.
A/R Management
Outsourcing revenue cycle management makes it easier for providers to track unpaid claims, follow up on outstanding payments, and maximize reimbursements.
Reporting & Analytics
Our end-to-end revenue cycle management services provide proper monitoring of financial performance, identify revenue trends, and optimize the revenue cycle for efficiency.
FAQ’s
How can an organization improve its revenue cycle management?
Revenue cycle management is the most important factor for an organization to improve. It can be improved by streamlining processes with accurate coding and billing, trained staff, using automation tools, and regularly auditing claims. Outsourcing RCM functions can also help by providing expert support, improving efficiency, and reducing errors, while ensuring timely payments and follow-ups on denials.
Why outsource revenue cycle management?
By outsourcing revenue cycle management services, you can save thousands of dollars on the same services you receive through in-house hiring. Outsourcing also provides well trained professionals with years of experience in medical billing, credentialing, and medical coding, guaranteeing accuracy, compliance, faster reimbursements, improved efficiency, and reduced administrative burdens, allowing healthcare providers to focus on patient care.
What Specialities does Medico Tech LLC serve?
At Medico Tech, we serve all types of specialties and practitioners, including Medical Healthcare, Dental Healthcare, Vision Care, Mental/Behavioral Healthcare practices, and many more.
Why should I choose Medico Tech LLC?
We are professionals with over a decade of industry experience, giving us an advantage over many other providers. Since we work with all specialties, we are the only choice you need to save money, time, and achieve peace of mind.
Get in Touch With Us
See our contact page for more information
Head Office
7901 4TH ST N STE 300
St. Petersburg, FL 33702
Email Us
info@medicotechllc.com
Call Us
+1 727 353 2939
7901 4TH ST N STE 300 St. Petersburg, FL 33702
