The Best Medical Billing Company for Revenue Cycle Management
Since hospital staff must deal with life and death on a daily basis, the last thing they need to worry about is medical billing. Comprehensive Healthcare Revenue Management (CHRM) specializes in helping hospitals outsource their medical billing needs. Contact us today to get started!
Bad debt is growing
Cash-to-net revenue is decreasing
Percentage of claims paid on the first pass is declining
Billing turnaround time is increasing
Credit balance in accounts receivable (AR) is increasing
Your staff is having a hard time keeping up with regulatory changes
Your staff is feeling overwhelmed
Patient care is diminishing because of more time being devoted to hospital medical billing
At times, hospitals can seem like revolving doors. Between handling outpatient visits, dealing with patient emergencies, and comforting concerned friends and families, hospital staff can easily become overwhelmed, and burnout is common. Often, this leads to errors in medical billing. While billing can seem like just another area of paperwork that needs to be addressed, it’s a great source of importance for hospitals and other healthcare establishments. Organized billing processes and practices keep everything running smoothly, and prevent headaches for:
Thorough hospital medical billing also creates a strong reputation of professionalism and builds trusting relationships with clients. Your establishment is already busy as it is, so why not let CHRM handle it? CHRM helps hospitals with their healthcare revenue services, so they can devote their time to what matters most — delivering compassionate, effective care.
CHRM’s medical billing specialists navigate the complex maze of today’s healthcare financial optimization requirements to help achieve optimum reimbursement for your staff and patients. As your partner in revenue cycle management, CHRM brings a team of over 50 dedicated revenue cycle management specialists with years of careful and insightful attention to the specific details of your healthcare delivery requirements. Our workflows are customizable and tailored to your specific needs. No matter what area of healthcare billing your organization needs help with, we are here to help get it all under control and to optimize your processes.
Our transparent and effective services allow us to ensure maximum efficiency throughout the revenue cycle. Thanks to our data analytics tools, experience with in-network and out-of-network payers, and deep understanding of payment proposal and appeal processes, we are able to provide excellent services in the specialized field of hospital medical billing. If you’re on the fence about outsourcing your hospital’s medical billing, read on for even more signs that your facility may benefit from CHRM services.
Transparency, honesty and excellence are principle foundations of CHRM’s healthcare billing services. We know you’re already busy and stressed enough, and don’t need to worry about your paperwork and revenue management. When you partner with our trusted staff, you’re receiving specialized attention and services that cater to your exact needs, allowing you to focus more on taking care of patients. Let us handle this important area of business operations and scheduling and reap the many benefits CHRM can provide your healthcare facility.
If you notice any or all of these signs in your hospital or other healthcare facility, contact Comprehensive Healthcare Revenue Management for help right away. Take advantage of our free audit offer and with their revenue cycle. Our medical billing experts are committed to helping you process claims, decrease denial and rejection rates, and tighten up the timeframe on all medical billing and coding processes so that your hospital can thrive!
KPIs help to gauge the financial health of your hospital. When KPIs start slipping, it’s time to reevaluate your medical billing process. Some KPIs to watch for include bad debt, decreased cash-to-net revenue, and a declining percentage of claims paid on the first pass.
Quick and efficient patient care should always be a hospital’s top priority. Everything else, including medical billing and coding, is secondary. Medical billing can be challenging. On top of checking in patients, managing wait times, and ensuring HIPAA (Health Insurance Portability and Accountability Act) compliance, your front office staff must coordinate and document patient care, translate those services into appropriate billing codes, and then generate medical claims. All of these responsibilities can easily lead to burnout, causing overall patient care to decline.
This is a common error hospitals make when their revenue cycle is not maximized. By instinctively trying to do more with less, hospitals reduce the quality of patient care and patient safety, and fail to improve their bottom line. Instead, hospitals should turn to outsourced medical billing and coding to better manage the revenue cycle.
When your employee fails to understand or care about their particular role in the hospital revenue cycle, it’s time to consider outsourcing medical billing. Every person who touches data that ends up on a medical claim or as part of the documentation process. From failing to verify patients’ eligibility requirements to forgetting to update patient charts, staff indifference can have a big impact on the revenue cycle.
As value-based care continues to take hold of the medical community, the emphasis has shifted to patients’ results instead of the services rendered. CHRM can help you navigate that change. We make sure to stay up to date on ever-changing medical revenue technology, payment models, and billing and reimbursement guidelines. We’re committed to helping your entire hospital staff (from the front-office staff to the healthcare providers) get on board with the most efficient revenue cycle practices and procedures in use today. Our data analytic tools can track improvements in your revenue cycle and draw attention to those that need tightening. When we discover a pattern, CHRM makes prompt and efficient adjustments. Thanks to our dedicated staff, Comprehensive Healthcare Revenue Management has become a top-notch medical billing company.