Revenue Cycle Management Services
We smooth out your frameworks cycles and individuals, to improve your revenue cycle with our industry skill joined with digital abilities.
As a medical care supplier, your practice needs to keep up with the balance between giving treatment to patients, Submitting claims to payers and getting them paid. This cycle is a mixture of medical services, business intentions and administrative procedure with insurance agencies. It is a compound series of steps including, claims, coding, registration, payment collections, remittance, and subsequent follow-ups. It is generally expected these exhausting and bulky errands that hamper you from concentrating on your center Medical care business. Medical services suppliers regularly underwrite more assets and time in accomplishing their objectives while an expert revenue cycle the board accomplice can convey better outcomes. Revenue Cycle Management services are at a spiraling development because of their return from investment and the enhanced business methodology. Essentially all central parts in health care are using these advanced level techniques to better revenue streams and decrease bad debts. The progress from conventional services fees to reimbursement-based medical services has renovated how medical services suppliers are working as far as better monetary feasibility.
Offering medical care to patients is an income stream; however when hospitals spend more assets to recuperate that revenue, it’s anything but an additional worth. A sound and expert RCM framework can be a compelling business move that assists you with flourishing in the competitive market situation.
A Compelling and Professional RCM System is Utilitarian for a Large Number of Variables
- ✅Enhanced Income and cash flow framework
- ✅Upgraded cycles and strategies to suit business requirements
- ✅Effective clinical, regulatory and revenue generation capacities
- ✅ Staying refreshed with CMS Rules and guidelines
How NJ-MBS Providing Leading Edge RCM Solutions
- ✅Extensive involvement with healthcare billing organizations with professional system diagnostics
- ✅Real-time processing of patients insurance eligibility status
- ✅Proper check and cleaning of claims
- ✅Self pay creation, e-statements and their online submissions
- ✅Eliminate administrative and compliance bothers
- ✅Adequate follow up of claims from Insurance payers.
- ✅Reconciliation of all the accounts and resolve issues identified with patient responsibility and adjustments
- ✅Effective management of denials and underpayments
- ✅Productivity precision in payment posting and decrease credit adjusts and retractions
What makes NJ-MBS the Ideal Choice
Outfitted with leading edge medical billing services, we are smoothed out for start to finish cycles and reporting processes, 90% of the claims are settled inside 90 days. You can completely depend on our expertise in RCM services and spotlight your assets on your center business.
Eligibility and Deductible Confirmation
Insurance eligibility/deductible checks are the most significant and the initial phase in the medical billing process. Insurance eligibility verification checks straightforwardly impact the reimbursements. Insurance agencies routinely make strategy and policy changes and updates in their health plans. In this way, it is significant for the medical billing organization or the doctors to confirm if the patient is covered under the new arrangement or plan to maximize reimbursements. Confirming the health insurance coverage acceptance criteria for the first submission of claim, though non-check prompts a few inconveniences like modify, diminished patient fulfillment and expanded mistakes other than creating setbacks and claim denials.
Verification Process
Confirm patients’ insurance coverage and benefits with their insurance by making phone calls to the patient’s payer or check via online approved web portals.
After getting or confirming accurate details update the medical billing software or practice management software (PMS) with verified information like member ID, primary and secondary payer verifications, and patient’s plan details like effective and termed date of policy, cap limit, copay, deductible, co-insurance, and other level benefits details along with maximum allowable limitations.
When any issue is found related to patient eligibility and benefits, we share updated information to the client promptly. This process saves the client’s time and money moreover the process increases practice revenue without rejections and denials and services loss.
Billing and Coding
It is significant that right coding and billing practices are executed by all experts and doctors. They should have NJ-MBS ensure EHR and training about the process to prepare themselves for the right codes with ICD-10. As the coding framework is perplexing, experienced experts are needed for handling claims on the initial submission.
Super Bills Completed by the Physician
Correct billing is important for RCM proficiency and NJ-MBS had formulated strides to execute it. The physicians are needed to get reimbursed according to the services and data should be entered accurately. We utilize control measures, like auditing and reconciliation to make sure that diagnosis codes, treatment codes, and services are billed accurately to the insurance carriers.
Processing of Claims
Denials and rejections at any level will amount to lost revenue and delays in cash flow for the healthcare providers. To resolve these problems, it is most difficult that each progression of the work process is set apart for quality and better handling. Complete staff including providers, front-line individuals, billing team, coders and clinical staff must have training for understanding their duty in processing claims.
Patient Payments
We completely comprehend the nature of the medical services business. Despite the fact that we focus on co-pays during registration time itself, in specific cases it might need to be modified. As medical services face busy times and emergency circumstances, we have arranged satisfactory methods to handle these situations.
- ✅Accurate claims and information processing are basic to coding and billing simultaneously. It is essential that claims get accepted for reimbursements rather than denials.
✅Clean data entry and claim submission within a timely filing limit will ensure a higher claim acceptance rate.
Payment Received
The last step of revenue cycle management (RCM) is the receipt of payments. Getting payments is vital for the business presence and claim denials may be informed by payers through ERA/EOB. The revenue cycle is troublesome and having a capable RCM accomplice can make things bothersome.
Maximize Practice Account Receivables (A/R)
We limit your lead time and let you accurate and clean claims processing. As a medical services supplier, tasks like entries and submissions, erroneous information, and claim settling takes a lot of resources and precious time. NJ-MBS will allow you to have devoted experts for your billing, coding and guaranteeing reimbursements. With an essentially high first-pass claim acknowledgment rate, we advance A/R. With regards to claims handling, we have you covered.
We Specialize in Becoming your Actual Billing Associate
NJ-MBS professional RCM works together with your billing practice and goes about as your billing associate. We plan and carry out our services by customizing it for your medical practice.
Our company works intently by assessing your particular prerequisites to guarantee you get each claim paid. We are specialists in observing and upgrading your system and A/R that directly affects your revenue collections.
We have demonstrated methodologies and systems set up that enhance your business. We go about as a contact for you at each step of the RCM cycle by joining trend setting technology.
We automate different tasks that lead to the best quality and advancement. Our primary objective is to maximize your practice revenue and reduce risks of loss.
Our Key Performance Indicators
7-14
Days Turnaround Time
30%
Reduction in A/R
15-20%
Revenue Increase
90%+
Collection Ratios
96%
First Pass Clean Claims Rate