Medical Billing cycle(RCM)
Introduction to Medical Billing Cycle(RCM)
Revenue Cycle Management (RCM) Services at InvicieQ encompass the entire spectrum of the financial process in healthcare, from patient appointment scheduling to the final payment of a balance. Our RCM services are designed to streamline billing processes, reduce errors, enhance payment collection, and ultimately improve the financial health of healthcare providers.
strategy
Key Aspects of RCM Services
- Patient Registration and Insurance Verification: Ensuring accurate patient data entry and confirming insurance coverage details.
- Charge Capture and Entry: Accurately recording services rendered into the billing system.
- Medical Coding and Claim Submission: Assigning appropriate codes and submitting claims to insurance companies.
- Payment Posting and Reconciliation: Accurately recording payments and reconciling accounts.
- Denial Management and Follow-up: Addressing and resolving denied claims and conducting persistent follow-ups.
Why Opt for InvicieQ's Medical Billing Cycle (RCM)
Choosing InvicieQ for RCM services ensures a comprehensive approach to managing your healthcare practice’s financial processes. Our team is equipped with the expertise to handle every aspect of the revenue cycle, ensuring maximized revenue and minimized financial disruptions.
Process
RCM Process at InvicieQ
- Efficient handling of patient registration and insurance verification.
- Precise charge capture and entry for all medical services.
- Expert medical coding and timely claim submissions.
- Accurate payment posting and financial account reconciliation.
- Proactive denial management and effective claim follow-up procedures.
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Everything you need to convert, engage, and retain more users.
20%
Reduction in cost to collect
15%
Increase in NPR
25%
Increase in patient satisfaction
Benefits
Benefits of InvicieQ's RCM Services
- Streamlined end-to-end management of the revenue cycle.
- Reduced billing errors and increased claim approval rates.
- Enhanced cash flow through efficient payment collections.
- Thorough handling of denials and expedited resolution.
- Comprehensive financial reporting for improved transparency and decision-making.
Ready to get great results?
Contact us today to discuss how our tailored solutions can streamline your revenue cycle and help your practice thrive.
We look forward to becoming your trusted partner in financial success.