Some days it seems that hospitals are revolving doors. Patients coming and going. Emergency personnel in high gear with patient emergencies. Babies wanting to come into the world. Friends and families concerned for the welfare of their loved ones. While this is wonderful that the United States is blessed with such high-quality medical care that people can receive treatment for any condition under the sun, it can lead to hospital staff burnout and inevitable billing mistakes being made.
Comprehensive Healthcare Revenue Management is a medical billing company that helps hospitals with their healthcare revenue services. Our mission is to help you as much as possible care for the humans who walk through your doors while we care for the medical billing and coding they represent on paper.
Hospital revenue cycle management presents specific challenges and obstacles that other service lines do not. This unique environment requires hospitals to streamline tasks which clog throughput by assisting with patient access, prior authorization, scheduling, effective coding, and prompt AR follow.
Our medical billing services navigate the complex maze of today’s healthcare financial optimization requirements and help achieve optimum reimbursement effectively. 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 work flows are customizable and tailored to your specific needs. We begin as early as front end guidance for a client’s front office staff to fighting for your claims with different payers.
We ensure maximum efficiency throughout the revenue cycle and keep you connected throughout it all. With the help of our data analytics tools, our experience in working with in-network and out-of-network payers, and our deep understanding of payment proposal and appeal processes, we are able to provide excellent services to our clients in this specialized field of hospital medical billing. If you’re on the fence about outsourcing billing needs for your hospital, read below some of the signs you should highly consider the medical billing and coding services of CHRM. Contact us today!
SIGNS YOUR HOSPITAL NEEDS MEDICAL REVENUE SERVICES
- Underperforming key performance indicators (KPIs). KPIs serve to be a gauge of the financial health of your hospital. When these start slipping (and noticeably so), it’s time to reevaluate your medical billing solution. Some KPIs to watch include bad debt, charity, cash-to-net revenue, and your percentage of claims paid on the first pass.
- Your staff is feeling overwhelmed. Patient care should always be first priority when it comes to hospitals. Getting patients the care they need as quickly as possible is first. Everything else is second. Medical billing can be challenging. Your hospital front office staff has to coordinate and document patient care and translate hospital services into appropriate codes for billing, which generates your medical claim. This does not include any element of patient check in, which includes verifying patient information, collecting health insurance information, and managing wait times. Add to this the myriad of government and local healthcare regulatory requirements, such as HIPAA (Health Insurance Portability and Accountability Act of 1996), and your front office staff can get extremely frustrated at times, causing patient care to slip.
- You’re considering cutting costs and staff to save money. This is a common error hospitals make when their revenue cycle is not maximized. Hospitals instinctively try to do more with less, which reduces the quality of patient care as well as patient safety, and fails to improve the bottom line. The revenue cycle can be better managed, usually with outsourcing your medical billing and coding needs.
- An attitude of indifference has set in. When your staff (and that’s everyone who works for the hospitals) fails to understand or fails to 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 the front-end staff to the back-end staff, from failing to verify eligibility requirements from patients to failing to update patient charts correctly) has an impact on the revenue cycle, no matter how small.
Comprehensive Healthcare Revenue Management (CHRM) is here to help hospitals get back on track 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 your hospital can thrive.
As value-based care begins to take hold of the medical community, emphasizing the patient result instead of the services the patient utilized, CHRM is here to manage that change for you. We closely follow regulatory changes and keep up to speed with changing medical revenue technology. We are up-to-speed with the various billing and reimbursement guidelines for each insurance company, as well as new payment models that crop up. 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. Our data analytic tools will track improvements made and those that need tightening. When we discover a pattern, CHRM makes prompt adjustments. Our medical billing experts are trained to handle new procedures quickly and efficiently. With a dedicated staff, CHRM is a top-notch medical billing company. Contact us today for all your medical billing needs!