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9 Benefits of Working With the Right Revenue Cycle Management Company

March 31, 2015

Benefits of right RCM companyNot all Revenue Cycle Management (RCM) or medical billing service companies offer the same service and finding the one that is right for your practice can provide a number of benefits.  It’s tempting to just go with the one that has the best price, or the one that catches your eye first.  After all, they’re all pretty much the same, right?  Well…not really.  Below, find nine benefits of working with the right revenue cycle management company, so you can be confident you chose the right solution to solved your medical billing needs.  

Medical Coding Expertise  

As of October 2014, most medical billing and coding has swapped over to ICD-10.  The best revenue cycle management companies will be comfortable with using ICD-10 and will have made the switch far enough in advance that they have already gotten used to the new system.  You don’t want a company that’s struggling to catch up with the latest standards; you want one that has already figured out the system and knows how to utilize it for your practice, thus highlighting why hiring a solution that is prepared for the ICD010 deadline is so important.

Medical Coding Audits

The first step to defending yourself against potential audits and loss of revenue is making sure that you’re maintaining proper coding and billing patterns.  Protect yourself with proper coding and documentation.  A good revenue cycle management company will work with you to ensure that all of this is taking place in your practice each day, including helping you to set up the systems that you need.

A Experience Medical Billing Team 

You don’t want an upstart business doing your medical billing and coding.  Instead, rely on an experienced team that knows what they’re doing and has been down this road many times before.

Free Medical Billing Software with Specialty EHR

You want your revenue cycle management company to be comfortable working with an electronic health records system (EHR).  An EHR streamlines both your documentation and your patient care practices.  A good EHR includes charting, scheduling, e-prescriptions, billing, and lab integration, and the best ones come with free support whenever you need it.

Faster Payments

The sooner you get your money, the happier your entire staff is.  Accurate, timely work from your medical billing and coding company will help improve your odds of receiving all of your payments in a timely manner.

More Time to See Patients

When you hire a revenue cycle management company that takes the documentation workload off of your shoulders, you have more time to spend on patient care, where your attention should be. Rely on your medical billing solution to take care of their job while you deal with yours.

A streamlined practice

When your medical billing and coding system is working at peak efficiency, your office can flourish too.  You’ll know that the billing and coding is being taken care of, so you can focus on patient care.  

Local Customer Service

The right medical billing and coding company for you will provide the customer service you need, when you need it.  You don’t always work regular, nine to five hours, and you need a revenue cycle management company that is equally flexible.  

Paperless Option

You can generate a lot of paper throughout the course of a day.  Not only is it costly, but it adds a great deal of clutter.  You want a medical billing and coding company that will give you a paperless option so you can keep your practice as efficient and streamlined as possible.

The most important aspect of your relationship with a medical billing solution is trust. You must be able to trust that they will do everything you need them to, so you are free to focus on providing the highest quality of care. If you are starting to search for the right medical billing solution and you feel you could use some help, please feel free to reach out to one of our team members at any time.


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