Revenue Cycle Management (RCM)
The two biggest challenges faced by the providers today can be named as their unclaimed that is Outstanding revenues and their unorganized revenue cycle – Collectively both the factors create an overall inefficient and vicious circle that is hard to come over by the practice owners
In order to run your practice with great efficiency and keeping it profitable for yourself it is essential that as a healthcare services provider you should opt for a RCM (revenue cycle management) system that understand your needs and provides solutions to the cause. Some of the guiding principles that can be followed are as follows:
Will this RCM system provide or help your practice in an increased cash flow?
Will this RCM system make your operations organized and keep them structured?
Will it help your practice in earlier realization of revenues?
Will it be able to Continuously screen the key revenue generating cycles?
If you look at these qualities of any RCM system that you are deploying at your practice then the advantages can be numerous not limited to higher patient satisfaction and higher revenues but increased efficiency and organized cash flows and staff. Outsourcing, in this direction is a considered unavoidable as it not only provides greater cost savings but also puts professional people on the job to get it done.
RCM Solutions from STS (STAT Transcription Services)
We are a premier organization in healthcare outsourcing, and we guarantee you the quality services in addition to a great ROI (return on investment) with our RCM (revenue cycle management) solutions. We would manage the entire RCM for your practice that starts from the time when a patient is visiting your practice, is admitted to the hospital, his treatment, and discharge/post discharge claims and settlements .
Given below is a short overview of the steps that we follow for maintaining facility revenue cycle management:
All the Pre-admission, pre-registration processes will be taken care of, that includes insurance verification.
Patient’s registration and admission and his stay management will be done through the RCM system.
All his (Clinical) documentation will be captured along with the Charge (capture).
All entries related to his/her Medical coding, health information entry and management will be done.
Complete Medical billing cycle.
All Claims will be reviewed, All approvals and denials with the insurance companies will be tracked.
Patient accounts will be fully managed.
Continuous follow up for unpaid or outstanding payments/AR will be done.
Reasons for the non payment will be reviewed and remedial steps will be taken for best revenue collection
Why choose STS for healthcare RCM (revenue cycle management)?
Following are the guaranteed benefits that you will get by choosing STS (STAT Transcription Services) as your partner for ealthcare RCM:
- Savings: 60% on your current operating costs.
- 24/7 Services: We offer round the clock support with quick TAT (Turn Around Time).
- Experienced Staff: with minimum 3 years of experience in handling RCM system.
- Continuous F/U (follow up): on the bills and records that results in greater revenue collection.
- HIPAA Compliance: ensures security and strict performance for all revenue cycles.
- Up-to date software and technology: that helps in best productive functioning of the RCM.
- No Risk Outsourcing: ensured by rigid information security procedures, practices and policies.
- Highly efficient RCM (revenue cycle management)
All practice owners looking forward to outsource their entire RCM system need a partner that not only can help their business grow with greater saving and efficiencies bit also keep them ahead of the newer challenges that we face in our healthcare industry today.
With STS (STAT Transcription Services) you will find such a partner that has an established track record with its clients for successful project transitions and an ever growing satisfied clientele of over 450 customers across the entire globe. You can trust STs (STAT Transcription Services) for their great industry experience, quality and extensive client base for your healthcare RCM services. With us you will find your partners in progress with a profitable and successful outsourcing arrangement.