Efficient revenue cycle management is a critical part of the success of any medical practice, and vein and vascular practices are no different. Failure to optimize every aspect of claims submission, claims payment and accounts receivable management, including both insurance and patient balances, can seriously affect your practice’s revenue flow, and the rules and regulations affecting this most important aspect of your practice’s financial health are changing constantly with both commercial carriers and government plans. Precision Vein & Vascular provides highly advanced revenue cycle management software services and systems that can help you effectively manage this most important aspect of your business, giving you dramatically improved cash flow, far more efficient medical records processing, and outstanding claims denial management. Precision can train your staff on the intricacies of revenue cycle management, or like many physicians, you may choose to partner with Precision for all your revenue cycle management needs and outsource that function to us. Either way, you receive the benefit of Precision’s experience, functional scale and proficiency in this critical area.
It is truly easy to put Precision Vein & Vascular’s revenue cycle management team to work for you. Here are some of the ways Precision can help with your revenue cycle management needs:
- High Level Consulting: Precision can provide help desk and skilled support to your in-house billing staff.
- Partial or Complete Outsource: It’s difficult to have all the necessary billing expertise you need with an in-house staff, especially when you consider the constantly changing rules and regulations promulgated by CMS, HHS, other governmental regulatory bodies and the many commercial carriers and plans that a practice must manage, as well as the impending ICD-10 and transaction standard changes that are coming. Precision can become an extension of your existing staff to provide needed expertise in all areas of revenue cycle management, or Precision can take overall revenue cycle management responsibility for your practice in order to truly maximize every potential reimbursement opportunity.
- Clearinghouse / Lockbox Interface: Streamlining claim submissions and payment receipts is extremely important. Precision can help you interface seamlessly with critical clearinghouse and lockbox systems.
- Patient Balance Processing: Precision provides comprehensive processing of patient statements and delinquency letters, refunds processing, and interfacing with collection agencies on unpaid patient balances.
- Custom Financial Reports: Information is most useful when it’s provided in formats that you’re accustomed to and can easily understand. Precision will provide custom financial reports that show information the way you like to see it, so you always have the knowledge you need to support your decision making.