Healthcare revenue cycle management services refer to the process of identifying, collecting, and managing the practice’s revenue. Panda Infosoft offers revenue cycle management services for hospitals and individual practitioners that want to improve cash flow and boost financial performance.
Transform Your Revenue With First-class Revenue Cycle Management Services
Today, more and more healthcare practices are outsourcing revenue cycle management services. Therefore, it is crucial to understand your organizational needs and transform them as per industry requirements to stay ahead in the competition. In this ever-emerging healthcare industry, it is critical to improving efficiencies through IT investment to ensure better business outcomes. Therefore, you need to partner with a professional revenue cycle management services company to boost overall financial performance.
Here at Panda Infosoft, we help you render quality patient care by reducing your overheads and improve efficiency through our extensive experience in offering world-class revenue cycle management services. RCMPanda Services are designed and performed by certified experts in medicare billing and other programs. Leveraging our industry know-how and expertise in different areas aligning to better healthcare such as insurance companies, payment gateways, cleaning houses, and leading healthcare technologies, we strive to offer a complete suite of revenue cycle management services under one roof. By partnering with us, you can enhance business profitability and reduce operational costs.
Full Revenue Cycle Management Services Outsourcing
Besides revenue cycle management services, we offer customized medical billing solutions, virtual assistant services, complete support with MACRA/MIPS, and credentialing. With years of practice and technical expertise, we can boost your business profitability and reduce operational costs. We work with a professional team that believes in teamwork and dedicated to rendering customer-centric revenue cycle management services within a short turnaround time. Here’s our RCM outsourcing workflow;
- Patient Scheduling and Eligibility Verification
Revenue cycle management services start at the moment the patient calls to schedule an appointment with a healthcare provider. Our front desk representatives collect and verify patient insurance and demographic details accurately to strengthen your claim.
- Patient Visit and Clinical Documentation
According to the CMS guidelines, a patient’s clinical document is an essential part of revenue cycle management services. At Panda Infosoft, we complete and proceed with patient records under ICD-10 coding standards.
- Superbill Completed By Provider
This is unquestionably the most critical part of the revenue cycle management services. The payers will pay the healthcare providers based on the information shared on the superbill along with the latest & correct CPT and ICD coding.
- Patient Payment and Co-pay Collected
Collecting co-pays and patient payment at the time of registration is considered one of the best front desk practices. However, in case of emergencies or rush hours, we can get the payment when they leave the practice. For some good reasons, we consider it an integral part of our revenue cycle management services.
- Medical Billing & Coding
One wrong code and payers will reject your claim. Owing to the complex nature of the medical codes, medical practices prefer availing professional medical billing & coding services. We have ICD-10 coding masters on the team to render complete revenue cycle management services smoothly.
- Claim Processing
Delayed reimbursement and claim denials are perhaps the biggest reason for poor cash flow and low revenue. For this reason, our revenue cycle management services include proven practices to avoid denials, and experts monitor the process closely at every stage.
- Payment Received & Entered
Revenue cycle management service completes when providers receive reimbursement from payers for their services. In case of claim denials, the process will be restarted from the claim process.
Our Revenue Cycle Management Services And Their Benefits Are Unmatched
Panda Infosoft’s Full RCM outsourcing, one of the different revenue cycle management services we offer, can improve your practice’s cash flow and sustain results by leveraging the latest technologies and harnessing best practices. Here’s are some benefits of outsourcing full revenue cycle management services with Panda Infosoft:
- Fee Schedule Review and Analysis
- Assistance With Providers Enrollment and Credentialing
- Account Receivable Management
- Patient Eligibility and Insurance Verification
- Insurance and Patient Payment Posting
- Though Medical Billing and Coding
- Appeal to Denied or Low Paid Claims
- Secondary Insurance Billing
- Claim Denial Review and Management