Revenue Management Services
- It’s hard to say, but we’re the best!
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IMPROVE YOUR REVENUE CYCLE BY USING STRONG DENIAL MANAGEMENT PRINCIPLES
- You can make your practice the most lucrative with MD CAVE’s Revenue Management Services. We offer a comprehensive solution that manages the entire revenue process, from patient insurance eligibility to claim processing and denials management to financial reporting. This is much more than just revenue cycle management. We make it possible for you to receive payment swiftly while also saving a sizable amount of time.
Motives for Utilizing our RCM Services
.To increase reimbursements, streamline the process.
.Reduce incorrect medical billing and coding
Significant Steps in Revenue Cycle Management:
Scheduling:
Scheduling is a crucial component of the revenue cycle that, when improved, would undoubtedly boost sales and enable healthcare providers to provide
Patient Pre-registration:
Because it begins even before a patient is enrolled in the system, the initial step is always important. Name, medical history, payer information, and payment
Patient Registration
All of the patient data obtained during the earlier pre-registration is supported during the registration procedure. A patient is informed of any errors found on
Charge Entry and Capture
In the charge entry stage of medical billing, healthcare professionals enter the details of the numerous services they provided to patients before sending the
Medical Coding
Another stage is to really communicate processes and diagnoses. Medical coding is used to convert written descriptions of services, processes, individual
Eligibility and Benefits Verification
Another crucial phase in revenue cycle management is benefits and eligibility verification, which, if carried out properly, would result in a higher clean claims
Claim Submission
One of the most important phases of medical billing is the submission of medical insurance claims. In order for the payment to be transferred in
Denial Management
After claims have been received, payments are either accepted or rejected at this crucial step. The hospital’s accounts receivable management team
Insurance Follow-up
This establishes the significance of insurance follow-ups for timely receipt of claims. The most likely problems at this stage include denials, underpayments,
Patient Billing and Collections
Patient responsibilities and balances are determined in the final step of healthcare revenue cycle management, and a statement is created. Unpaid
Payment Posting
Payment posting enables us to view the payments while presenting a picture of the financial practices, making it simple to discover any difficulties and rectify
Reporting
Staying on target and avoiding costly errors are essential. The practice must have good reporting technologies for this. Your revenue cycle management process will
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