[Partner Post] This Secret Weapon Could Earn Your Practice More Money in 2018
By CLICK Staff
Tuesday, April 10, 2018 12:10 PM
NEW YORK—The claims management process for an eyecare practice can be challenging. But, the success of your claim processes has a drastic impact on your overall revenue, making it a very critical part of your business. High employee turnover, low performance visibility, and a lack of knowledge into vision and medical claim nuances are a few of the things that make it difficult to manage an effective claims cycle.
But, with help from a revenue cycle management service
you’ll see a decrease in your claim processing time and faster reimbursements without having to manage the stress of claim filing in your practice. Let’s look at exactly how a revenue cycle management service can be your secret weapon to claims success in 2018.
3 Ways Revenue Cycle Management Will Help Your Claim Reimbursements
1. Rejection and Denial Management
Rejections and denials are bound to happen, and there are many reasons why claims can bounce back to your practice and need to be resubmitted. When the responsibility of managing rejections and denials falls on just one person in the practice, it’s easy to get backed up and overwhelmed with the work load. Leveraging a revenue cycle management service gives you access to billing experts who help quickly mediate rejections and denials for you.
2. Shift Staff Focus
If your front desk staff is spending time with their head down buried in claims, there is a good chance that patient needs in your office are going unnoticed. Today, 97% of customers read online reviews, which means customer focus should be at the forefront for every patient that walks into your practice. Freeing up staff time from claim management will allow your team to better utilize time in the office with patients, making sure they have a good experience throughout the entire appointment.
3. Analytical Business Decisions
Having access to your practice’s business data with easy to read reporting can help you make better business decisions to reach your goals. But, many practices are left in the dark when it comes to claim performance. The right revenue cycle management service will give you access to a dashboard packed full of all the important metrics you should be looking at like submission times, denial rates, utilization reports and so much more. Not only is it great to be able to see historical performance for your practice, but it’s also helpful when you can compare your practice’s performance against your peers.