Optimizing revenue without sacrificing quality is no longer a goal, it’s a necessity. ReveNewCycle Management and Consulting can help you do more than increase revenue in the short term we also work with providers to design and implement the performance transformations that drive sustainable and ongoing improvements.
Billing and Coding (Certified Coder)
EHR Incentive Program
Obtaining Insurance Contracts
If your office is struggling to stay ahead for patient billing, take a look below to see if you’re encountering these problems.
– Staff has not been properly trained or educated: Optimizing your revenue cycle is like a supply chain; if one person in the chain does their job incorrectly, it will affect the outcome of the rest of the chain. Coding errors, incorrect data entry (insurance information, patient demographics, etc) or simply a failure to understand how their job affects the revenue of the office can result in your staff making costly mistakes.
– Lack of communication between staff: While the typical office day can be very busy, it’s important that everyone understands their role in the office’s revenue cycle. Therefore, communication between physicians and office managers must remain open and weekly meetings should occur to review the financial reports including accounts receivables, collections and revenue..
– Poor workflow: Does your staff check patient eligibility and copay amounts before the patient arrives? Do you check for missing charges against your charge slips? How long does it take your staff to follow up on claims? Without an established workflow, your staff can end up missing steps and/or forgetting tasks which ends up in increased errors and more delays to getting paid.
Aside from preventing the problems above, did you know that CMS rejects nearly 26% of all claims and up to 40% of those claims are never resubmitted? This can result in lost revenue of up to 10% per physician. However, with the proper revenue cycle processes and workflows in place, your office can increase payments while decreasing bad debt write-offs. (In other words, your practice will stay in business).
ReveNewCycle is a revenue cycle management and consulting company that offers providers creative and cost-effective solutions to problems related but not limited to the capture, billing issues, and collection of health care revenue.
After working 15 years in health care revenue cycle management I began to grow tired of watching providers lose thousands and thousands of dollars due to poor management, lack of knowledge and lack of concern which is what lead me to start ReveNewCycle Management and Consulting.
We are a company with integrity that put our physicians first. We believe in quality over quantity which is why we make it a priority to invest the time it takes to find and fix the root of the problems providers may face.
Revenue Cycle Assessment
A focused assessment that provides recommendations in specific areas, such as the charge capture process, charge master setup, or billing components
Revenue Cycle Optimization
Revenue Cycle Optimization means increasing your revenue by improving both above the line and below the line operations by identifying and fixing revenue cycle leaks and Benchmark business achievements.
We will look into your contracts and credentialing files to make sure there aren’t any issues that would render the provider to be ineligible for reimbursement
We will train your staff on strategies to use to improve reimbursement and to keep it that way.