Revenue Cycle Management
Revenue Cycle Management
Revenue Cycle Management (RCM) is the process that governs the financial operations of a medical practice. This involves all the required steps for claims submission and processing, receiving and reconciling payments, and resolving claim denials and underpayments.
Highly efficient revenue cycle processes are the difference between financial stability and merely struggling to get by. Simply put, your revenue cycle process is one of the most important aspects of your practice. It should be handled by professionals.
Associated Management Services will work directly with you to optimize your financial performance while complying with regulatory requirements. Each of these steps rely upon the others and are critical to the cycle:
Accurate patient registration, insurance verification, obtaining pre-certs and pre-auths
Collecting copayments at the time of service
Pre-collecting deductibles and coinsurance
Capturing all encounters
Proper coding of claims
Billing clean claims
Denial management
Resolving claim denials and underpayments
Effective reporting and analytics
Your Revenue Cycle Process is One of the Most Important Aspects of Your Practice
AMS supports all of the necessary Revenue Cycle Management functions such as assessing insurance low pays, managing unapplied balances and refunds, patient statements and delinquency letters, and filing appeals. We track and follow up on all unpaid claims and pursue all reimbursement possibilities. We respond to both payor and patient inquiries. Transaction reports are produced and scanned to our secure encrypted webserver. Month end reporting is catered to your specific needs. Over 700 standard and custom reports are currently available, and a special report suited to your needs can be written upon request.
Our Process
We have developed a UNIQUE DEDICATED PROCESS to work aged claims and ensure the most timely retrieval of your reimbursements. Our professional staff will assertively and properly follow-up on aged claims until they have been resolved. Claims are followed online whenever possible, both with our Electronic Data Interchange as well as with the payors’ online services.
At AMS we make every effort to develop long term relationships with our clients based on our expert performance, confidence, service and trust. We know that every healthcare provider’s needs are unique. We will consult with you at length to learn your specific processes and we will then create an individual plan for your specialized needs. This one-on-one approach allows us to address your particular situation and truly serve as a natural extension of your office.
Your front desk will make best efforts to collect copayments and payments on accounts at the time of patient visit. We will post copays and deposits in an accurate and timely manner. We strongly encourage our clients to use an offsite location to receive any paper checks and payment information. Payments are screened to ensure the payor has made the proper reimbursements. We will follow up on unpaid claims, unpaid line items, denials, and payment errors.