Our Services
Revenue Cycle Management
Revenue Cycle Management Services That Boost Your Practice’s Revenue,At Practice Claim, we simplify medical billing and revenue cycle processes so you can focus on patient care. Our RCM solutions reduce claim denials, improve cash flow and maximize reimbursements for physicians, clinics, laboratories and specialty healthcare providers.
Services We Provide
Accurate Data Collection: We handle the personal data of patients and their insurance, phone numbers, and other demographic data for billing.
Appointment Scheduling: Scheduling is done well in our systems and the problem of no-show and less practice time is well handled.
Eligibility Verification: We ensure that the patient meets the requirements to receive medical services and check for primary as well as secondary insurance coverage.
Prior Authorization: We monitor and review pre-approvals, and authorization to check for approvals on coverage.
Accurate Medical Coding: Most of our team members make sure that all the medical services provided are correctly coded to avoid denied claims.
Charge Capture: We properly document charges for services offered to make sure that you are taken care of as per the reimbursement terms.
Electronic Claim Submission: Choose to file your claims through electronic means to save time.
Claim Scrubbing: We detected errors before submission in order to minimize the number of denials.
Follow-up on Claims: We maintain records of the claims filed and regularly check on the insurance companies for processing updates.
Payment Posting: We process records based on payments, adjustments, and denials within the shortest time possible and efficiently.
Reconciliation: We confirm that the payments made are relative to the billed services and address the differences.
Denial Analysis: We determine the reason for denials and address them appropriately.
Appeals Handling: We prepare appeals for rejected claims to increase the amount of money received.
Patient Statements: We create concise and authentic patient accounts to facilitate early payments.
Collections Management: We eliminate accounts receivable outstanding balances and improve the flow when it comes to collections.
Comprehensive Reporting: We obtain special performance reports of finances and claims, as well as other payments.
Business Intelligence: Our team uses analytical tools to come up with decisions for practice enhancement.
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Procedure: How Our RCM Service Work
Initial Setup & Data Collection
- Securely collect patient and insurance information and sync it with your practice management software.
Insurance Confirmation & Approval
- Verify coverage and obtain pre-certifications to prevent surprise bills and claim rejections.
Medical Coding & Charge Entry
- Apply accurate CPT, ICD-10 and HCPCS codes to ensure clean claims.
Claim Submission
- File error-free claims electronically for faster processing.
Payment Posting
- Record and reconcile payments from payers and patients to ensure accuracy.
Claim Denial Resolution
- Identify the cause, correct errors and resubmit quickly to minimize revenue loss.
Patient Billing
- Provide clear, easy-to-understand billing statements and flexible payment options.
Reporting & Analysis
- Deliver monthly, quarterly and annual reports to track performance and identify growth opportunities.
Why Practice Claim is the Right RCM Partner?
We reduce repetitive tasks in your employees to make them dedicate their time and attention to patients. We reduce repetitive tasks in your employees to make them dedicate their time and attention to patients.
Benefits of Outsourcing RCM to Practice Claim
Enhanced Revenue Collection
Maximize Reimbursements Improve customer satisfaction by decreasing claim errors; process and get paid quicker, and deny fewer claims.
Improve Cash Flow We consistently manage claims to ensure smooth cash flow.
Operational Efficiency
Streamlined Processes We reduce repetitive tasks in your employees to make them dedicate their time and attention to patients.
Reduced Overhead Costs There is no need for an extensive billing department within the company hence offering time and cost savings.
Compliance and Accuracy
Following Regulations In accordance with all the healthcare laws including HIPAA, our RCM processes are all legal.
Accurate Medical Coding Our certified coders also ensure that coding is accurate and no claim is rejected or subjected to an audit.
Data Security
HIPAA Compliance We follow the HIPAA standards ensuring patient information and privacy are protected.
Secure Systems It is easier to protect your financial data from breaches and fraud with our technology.
Increased Transparency
Regular Reports Obtain regular updates on your practice’s financial results.
Complete Visibility Learn more about each phase of your revenue cycle by using our adaptable dashboards.
Time Savings
Focus on Patient Care By eliminating administrative tasks you can focus on providing the best patient care.
Automated Tasks Use automation in daily tasks such as payment posting, denial management, and reporting.
Why Choose Practice Claim for RCM Services
1. Expert Team
We collaborate closely with our experienced team of Physicians, RCM focuses on bringing the best revenue for your practice. Our company has experience in dealing with numerous healthcare niches, and we respond to any billing requirements for your practice.
2. Cutting-Edge Technology
We are currently utilizing new technologies and exploring AI solutions that help to automate work such as adjusting and denying claims, as well as posting payments and reducing paperwork.
3. Custom Solutions
Every practice is unique. Our solutions are customized depending on your practice size, whether you are a small practice or a large healthcare setting.
4. Proven Results
We are proud that our previous experiences and performances also reflect our organizational capabilities. It’s evident that we have systematically been assisting practices to improve their revenue, decrease A/R days, and attain higher clean claim rates.
5. Dedicated Support
In addition, we are always available to attend to your questions and make sure the site runs efficiently at all times. You can always feel free to contact our team in case of difficulties with the work.
Frequently Asked Questions
RCM covers the entire financial process of a patient’s journey, from scheduling and insurance verification to claim submission, payment posting and collections.
Outsourcing reduces administrative workload, improves accuracy and accelerates reimbursements, which means more revenue for your practice.
Our systems, processes and staff training strictly follow HIPAA guidelines to safeguard patient privacy and data security.
Yes. We tailor our services based on your specialty, size and operational needs.
You will get monthly, quarterly and annual performance reports, along with custom analytics to track key revenue cycle metrics.
