Revenue Cycle Management (RCM) drives your business. Once you schedule a consumer, there are necessary steps involved to ensure you receive final payment for services provided. However, like most providers, you are experiencing a financial strain due to any or all the following:
- Recruiting, training, and maintaining staff to help support the work involved with an effective RCM.
- An increased volume of consumers, providers, and participants.
- Growing consumer debt collections and a decrease in payer reimbursements.
If this sounds familiar, now is a perfect time to research outsourcing all or part of your RCM process. Managing consumer care at your organization is a top priority, but without healthy finances and cash flow you will put the success of your business at risk. If you are struggling to balance consumer care with inefficiencies in your RCM, consider the following reasons for outsourcing your billing and collections:
Better Cash Flow – Meet the demands of your growing business with help from an experienced team with an established RCM process. We will help you solve your billing challenges, opening the door for increased revenue and timely payments from insurance companies.
Reduce Expenses – Operating an in-house billing department requires a serious investment on your part but comes with the added stress of employee turnover, training, and retention. Outsourcing to a third-party company with a successful record will create optimized workflow and reduce your expenses over time.
Compliance Management – Evolving industry standards means staying up to date on billing rules, compliance regulations, and insurer submission guidelines. A consulting company stays on top of compliance rules and payer guidelines to ensure a streamlined billing process.
Prioritize Client Services – With the day-to-day tasks of billing management, claim submission, and payer appeals handed over to a trusted and experienced team, it creates more time for you to focus on consumer care.
A Deeper Analysis – Managing the daily tasks of a business office and providing client care means little extra time for analyzing your current RCM process. An outside billing company has the resources and capabilities to extract data, identify problems, and provide solutions within your RCM system. Doing so allows you to implement sound billing practices and solidify the financial health of your company.
Gain an Edge with ZMark Health
We are here to provide guidance on or manage your Revenue Cycle Management process. With our services, you will increase profitability and improve efficiency. Contact us today to learn more about the support we can provide.