Medical Billing Revenue Cycle Management
Medical billing is a crucial aspect of the healthcare industry, but it can also be one of the most complex and time-consuming tasks for healthcare providers. Acer health is the top medical billing companies that offer the best medical billing services to help streamline revenue management and allow healthcare providers to focus on providing quality care to their patients.Medical billing services play a vital role in revenue management for healthcare practices. These services can help to ensure that a practice's billing and collections processes are accurate, efficient, and in compliance with all relevant regulations and guidelines.
Whether you are switching your billing company or starting a brand-new practice, we will work with you and implement a seamless operation from the very first day. Providers should focus on patients, not claims and patient statements. With our experience working with different insurance companies, we know what works and what doesn't. Before boarding, we will plan and assist you with the entire transition and make sure that the entire team focuses on avoiding interruptions in billing. The pile out happens in a phase-wise manner where we will discuss your software and administrative requirements, data transfer requirements, take decisions on previous AR, manage vendor coordination and centralize setups.
Every day, our billing team focuses on maximizing results for our clients, according to government and insurance company laws. In fact,We offer advice to our clients based on their ever-changing regulatory needs after many years of clinical and administrative experience. Our team develops and consults with coding guides like the Local Coverage Determination (LCD) and the National Correct Coding Initiative (NCCI) for accurate claims submission. To make sure billing is clean and up-to-date, we track denial trends constantly.
A practice's success depends on patient flow. A company without smooth spikes in its schedule can lose revenue even after providing quality services. We avoid this problem by proactively verifying benefits for all patients. All scheduled patients are verified 2 days before their appointment. This reduces wear and tear on staff and physicians. A systematic patient planning process makes the patient's experience better before and after the visit. Among the data we gather are the type of insurance plan, coordination of benefits, copays, and the deductible and out-of-pocket amounts.
Persuading an insurance company to cover medications has become increasingly difficult among physicians and workers because of the different administrative processes. It's usually an expensive distraction that slows down productivity. We complete the authorization process for all patients and send the details to you 2 days before the procedure.
Any process without a quality check isn't complete. Claims that are incorrect or incomplete may cascade if they are not checked at every step of the process. We submit all claims to the insurance companies within 24 hours. They must review the guidelines, rules, and regulations governed by their health insurance policies before they submit claims. After scrubbing, the claims are manually verified. This procedure reduces the chance to get denied and boosts the first-pass ratio at first submission.
Reconciliation is an electronic gateway that ensures figures are in agreement and correct. Setting up this infrastructure ensures fast payment reconciliation and accurate revenue projections. We coordinate with clearing houses and carriers to set up Electronic Remittance Advice (ERAs) and Electronic Fund Transfers (EFTs) that manage your payments and provide strategic insights by analyzing the information collected. Pending patient balances are applied and adjusted frequently to avoid the accumulation of unapplied payments. In addition to these services, we also update and assist with payment practices that flaw the marketplace’s payment system.
Having trouble keeping track of your receivables? Do you have a backlog of claims to process because of a lack of skilled resources? Worried? In order to make this process as efficient as possible, we follow up on claims 10 days before they're due. Claims can now be tracked, denied issues can be resolved, and revenue can be predicted more easily.
No matter how smart your claims submission process is, denied claims are liable to happen. Management of those issues is going to be a fact of life for medical practices. We tend to follow daily denial management methods to make sure claims reconciliation is as quick as possible to overcome this problem. Don’t leave cash on the table. 70% of denied claims get recovered. Whenever a denial occurs, it's flagged and sent to accounts and assets. To resolve denials properly, our closely-knit teams work together constantly. By avoiding accounts receivable accumulation, reducing AR, and increasing revenue, revenue increases.
Acerhealth's dedicated customer service team handles all billing-related questions. Your practice has its own line.
Using our Smart Reports, you can make informed decisions about the health of your practice.
The Acer Health Smart Reports interface is intuitive, with eye-catching dashboards and graphical collections. You can generate reports and graphs by specifying parameters. In addition, you can monitor the key performance indicators of your practice such as operational costs, the billing & reimbursement cycle, accounts receivable, and revenue stream. With this analysis, you'll find underperforming areas and operational silos, so you can increase productivity and maximize revenue.
Our team will assist you with the many medical processes involved in your long-term success. We work in unison with you and your dedicated team to achieve quality growth for your business. Whenever you have a technical or billing issue, we're here to help.