Revenue Cycle Management

Streamline Your Medical Billing Process with Our Comprehensive and the Best Revenue Cycle Management Solutions

In today’s rapidly evolving healthcare industry, efficient Medical Billing processes are crucial for ensuring the financial stability of healthcare providers. Medical Billing is a complex process that involves numerous steps, such as coding, claim submission, payment posting, and follow-up with payers. These processes can be time-consuming and can lead to delayed or denied payments if not managed properly. This is where revenue cycle management (RCM) comes into play

Revenue Cycle Management (RCM) encompasses managing the financial aspects of a patient’s visit, ranging from appointment scheduling to payment processing. It requires coordination between multiple departments and functions, including front-end staff, medical coders, billers, and payment posters within a healthcare organization. Effective RCM is vital for ensuring prompt and accurate payment for healthcare services provided, which impacts the financial stability of healthcare providers.

At Billvolt, we recognize the significance of RCM in medical billing and offer comprehensive solutions that streamline the billing process, ensuring timely reimbursements for our clients. Our RCM services comprise:

Eligibility Verification

Our knowledgeable and experienced billing staff collaborates with insurance payers to verify patient eligibility and ensure that healthcare services are covered by the patient's insurance plan. By verifying eligibility prior to the delivery of services, healthcare providers can avoid expensive claim denials and billing errors, resulting in enhanced revenue cycle management and financial performance.

Medical Coding

Accurate and appropriate medical coding is essential to ensure successful claim submission and prompt payment. Our company provides comprehensive medical coding services that adhere to industry standards and ensure compliance with regulatory requirements. Our team of experienced and certified medical coders uses advanced technology and best practices to assign accurate and appropriate medical codes, which ultimately helps healthcare providers optimize their revenue cycle and improve financial performance.

Claim Submission

Claim submission involves making sure that the patient has insurance, assigning the right medical codes to the services provided, and sending the claim to the right insurance payer on time. Effective practices for submitting claims help healthcare providers get paid on time and correctly, reduce the risk of claims being denied, and improve their revenue cycle. At our company, we offer full services for submitting claims that are made to fit the needs of healthcare providers.

Payment Posting

Medical Billing requires accurately recording and allocating insurance and patient payments. The payment posting process involves accurately crediting payments received from insurance companies and patients and adjusting any outstanding balances accordingly. Payment posting is essential for accurate financial records and revenue cycle optimization in healthcare. We specialize in healthcare provider payment posting. Our experienced professionals streamline operations and ensure accurate payment posting using advanced technology and best practices. Our payment posting services help healthcare providers maintain accurate financial records and properly allocate payments, improving cash flow and financial stability.

Denial Management

We track and analyze claim denials to identify trends and take corrective action to reduce future denials. We keep tabs on denied claims and analyzing the data for patterns so that we can take preventative measures moving forward.

Accounts Receivable Management

Effective ARM practices in medical billing help healthcare providers improve their revenue cycle, reduce bad debt, and increase cash flow. Our company, Billvolt, specializes in providing customized Accounts Receivable Management (ARM) solutions for healthcare providers. Our experienced team of professionals leverage advanced technology and best practices to optimize ARM operations, reduce payment delays, and minimize claim denials, with our comprehensive ARM services, healthcare providers can prioritize providing quality patient care while we manage the complex task of handling their accounts receivable.

Patient Collections

Ensuring timely payment for services rendered is crucial in medical billing, and patient collection plays a pivotal role in achieving this. It involves various steps, such as generating and sending patient statements, communicating about outstanding balances, and setting up payment plans as required. Efficient patient collection practices not only improve healthcare providers' cash flow but also reduce bad debt and boost revenue. Our company understands the significance of patient collection and offers tailored services to suit each healthcare provider's unique requirements. Our team of experienced professionals adopts proven techniques to maximize patient collections while maintaining positive patient relationships. With our patient collection services, healthcare providers can focus on providing quality care while leaving the arduous task of managing patient balances to us.

Our team of experienced RCM professionals works closely with healthcare providers to understand their unique needs and develop customized solutions that optimize the billing process. We leverage advanced technology and best practices to streamline operations and improve financial performance.

By working with Billvolt as your RCM medical billing partner, you can expect fewer claim denials, quicker payments, and better cash flow. Get in touch with us today to learn more about how we can help your organization enhance its revenue cycle management processes