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. CHRM helps hospitals with their healthcare revenue services, so that they can devote their time to what matters most — delivering compassionate, effective care.
Our 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.
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.
MORE SIGNS YOUR HOSPITAL NEEDS MEDICAL REVENUE SERVICES
- Underperforming key performance indicators (KPIs): 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..
- High staff burnout: 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
- Staff cuts to save money: 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.
- Staff indifference: 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
Comprehensive Healthcare Revenue Management 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 that your hospital can thrive.
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. Contact us today for a free audit!