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Revenue cycle management services
Are you finding it difficult to achieve a smoother administrative experience and generate better revenues? Is your organization falling short of trained resources to handle your RCM management services requirements? Then, the best option for your organization would be to opt for outsourcing to experienced revenue cycle management companies.
Synergy Resource Management (SRM) provides high-quality and cost-effective RCM solutions to global customers. We can help you collect payments on submitted claims, increase the revenue from underpaid claims, and follow up with insurance companies for quick settlements. Additionally, we can also help with your revenue cycle management system, including coding tasks as well as complete patient registration and eligibility verification. Leveraging our expertise can help you –
- Improve your collection ratio
- Increase the probability of payment
- Increase revenues
Our Revenue Cycle Management Solutions
RCM has a significant impact on the way your hospital or medical practice functions. A new-age healthcare provider needs policies and practices in place to remain financially secure. With our customized revenue cycle analytics services, you can see a visible impact on your day-to-day operations while benefiting from enhanced customer satisfaction and improved claims submission and returns.
Whether you are a healthcare provider or an individual physician, we can provide comprehensive revenue cycle management services that will meet your exact needs. Our wide range of revenue cycle services include -
• Healthcare Collection Services
We provide clients with accurate and high-quality healthcare collection services with the help of our years of experience and expertise. By using the latest tools and technologies, we aim to deliver top-notch revenue cycle management process outsourcing services.
• Payment Posting Services
With our RCM services, we can ensure quick and accurate posting of all payments into your billing system. We also do regular auditing of all posted payments, which helps to reduce errors.
• Denial Management Services
Insurance claim denials are a major pain point for healthcare businesses around the world. We can help you analyse, correct, and resubmit denied claims. This process includes identifying denials by revenue coding and CPT/HCPCS codes. Thereafter, the reason for the denials is analysed and a detailed denial management report is prepared. This process can help you effectively manage claim denials.
• AR Calling Services
Our AR Calling Services are equipped with the expertise to follow up and handle delays in the payments. We identify the unpaid dues that are causing a bottleneck in your RCM system and follow up with delinquent patient accounts. We ensure to courteously engage patients, make them feel comfortable and urge them to make timely payment of pending dues. We also call the insurance companies to send details about rejected claims.
• Insurance Eligibility Verification
Checking the eligibility of the patients can be time-consuming because it is a resource-intensive task. These revenue cycle management services are completely taken care of by our trained professionals who will check all medical documents, verify the patient coverage, follow-up with patients if there is a shortfall in the supporting documents. The final report will be filed for faster processing.
• Medical Claims Processing Services
We can manage both electronic claims submissions as well as submission of paper claims. Our experienced team prepares the Explanation of Benefits (EOBs) and submits the claims to the insurance company as part of our RCM services.
· Accounts Receivables Services
We can help you identify patient accounts that require follow-ups and take the requisite action to collect unpaid/underpaid claims. Our services include –
- Accounts receivable analysis
- Identification of the grounds for claims denials
- Follow-ups on pending claims
We can also prepare monthly reports that can help you manage your cash flow and increase profitability. These include reports related to –
- Aging A/R
- Charges, payments, and adjustments
- Payment punctuality for different Payers
- Payer mix
In this way, we provide a range of hospital revenue cycle outsourcing solutions that can help you achieve better operational efficiency.
• Medicare Reimbursement Services
We help you successfully optimize compliant Medicare reports, which is challenging, especially when the federal and state regulations are continually changing. We have expertise in comprehending multi-layered legislation and applying it to ensure the most optimum Medicare reimbursement on an ongoing basis.
• Medical Claims and Encounter Processing Services
As one of the leading RCM companies, we assist clients in submitting encounter data to the respective agencies. Our encounter processing services are HIPAA (The Health Insurance Portability and Accountability Act) compliant and manage end-to-end testing and certification logistics. We receive, transform, and transmit full and compliant encounters.
• Health Insurance Recovery Services (HIRS)
We provide specialized services related to health insurance claims follow-up and insurance claims denials. Working closely with the hospitals and healthcare services, our experienced and trained professionals enable healthcare providers to efficiently address claims denials. This facilitates increasing cash flow and reducing or eliminating write-offs.
• Payment Accuracy Services
If your bottom line is seeing a dip due to payment errors and issues in data validation, it is time you opt for revenue cycle management outsourcing services. Let us be your efficient payment accuracy services provider and resolve the payment issues within a tight TAT. We take prudent measures to avoid errors and fix older bugs to resolve the payment error.
• Healthcare Revenue Integrity Services
With our comprehensive and detailed healthcare revenue integrity services, we use standard and ethical business processes and practices to meet the three most important elements of operational efficiency, compliance, and optimal reimbursements. We focus on all the three together and make them work in tandem resulting in the healthy development and operations of practices.
• Policy Owner Services
We assist individuals, private firms, public companies, and government organizations to make changes to their existing policies by contacting and working with policy carriers. We help with every minute detail right from choosing a new policy up until the relevant payment on maturity. Our professionals conduct a thorough analysis of all the policies and carriers available and provide you with high-quality consultation services.
• Health Risk Assessment Services
We can tell how much of your workforce is exposed to physical and mental health risks by conducting a detailed study of demographic data, behaviour, occupation, lifestyle, and more so that you can implement safety measures to ensure sustenance of business operation.
• Patient Financial Clearance Services
We are a leading provider of patient clearance services and help small, medium, and large healthcare providers to improve their revenue generation upfront and provide a more seamless and effective customer experience to their patients. We leverage the latest technology and predictive analytics capabilities to simplify the prior authorization and eligibility verification process to help patients understand their fiduciary responsibilities.
• Patient Registration
We can help you process your patients' personal, demographic, and all insurance-related information. At each step of the process, we ensure that we verify and validate patient information. During this step, easy identification of insurance mismatch, wrong provider details, etc. can help you avoid losses down the line.
• Charge Capture
We can help you process your patients' personal, demographic, and all insurance-related information. At each step of the process, we ensure that we verify and validate patient information. During this step, easy identification of insurance mismatch, wrong provider details, etc. can help you avoid losses down the line.
· Charge Capture
Charge capture is extremely important since it helps doctors accurately record the entire information of services provided. This information is then sent to different payers and insurance companies for quick and timely reimbursement. We can process charges for multiple specialties within a short turnaround time. We have extensive experience in handling –
- Medicare
- Third Party Liability
- Medicaid
- Managed Care
- Preferred Provider Organizations
- Indemnity Insurers
Workers Compensation
· Custom Reporting
If you a healthcare service provider who wants a 360-degree outlook of your RCM system and how it is affecting your bottom line, we are the right company to outsource to. We create custom reports through powerful dashboards which you can access from any location and device. Our services consist of –
- Charge and Payment reports
- Procedure frequency and diagnosis reports
- Payment reimbursement reports
- Lockbox reconciliation reports
- Payor analysis reports
Synergy’s RCM Process
Being one of the leading revenue cycle management companies, our team believes in providing quality services to clients within a quick turnaround time. This is possible by making use of a systematic and streamlined process which involves the following steps –
Patient Pre-authorization
Insurance Eligibility and Verification
Insurance Claims Submission
Payment Posting
