Revenue Cycle Management

The economic downturn is creating new reimbursement challenges for physicians. Patients with comprehensive health coverage are on the decline, while self-pay patients are increasing. Medicare reimbursements continue to decline, yet there are financial incentives available from CMS such as the PQRI* bonus payments and E-Prescribing incentive payment. Keeping billing processes running smoothly and productively is complex, time-consuming, and for busy clinicians, nearly impossible to do effectively.

It's also a compelling reason to engage MedOptima to manage your revenue cycle. We will help you reverse the troubling trends of lower reimbursements, revenue leaks, and suboptimal billing practices that threaten the financial health of otherwise sound medical practices. We are innovative and thorough in our approach to revenue cycle management, taking a total process approach that includes:

• Reviewing patient financial policies to minimize write-offs and maximize collection
• Verifying patient eligibility to ensure timely payment of out-of-pocket costs
• Utilizing technology to better manage self-pay and under-insured patients
• Monitoring and incorporating new government incentive programs like the Physician Reporting Quality Initiative (PQRI) and E-Prescribe to secure incentive payments
• "Scrubbing" claims of potential errors so they're paid quickly the first time they're submitted
• Proactively tracking your practice's financial performance to identify and circumvent potential problems

MedOptima's approach to revenue cycle management optimizes revenue and profits, while eliminating the stress many physicians experience when torn between the practice of medicine and the business practice. It's a solution that starts with a conversation. Let's talk.

Learn more about Revenue Cycle Management (.pdf)