Revenue Cycle Management
Super-Charge Your Practice With Our Top-Notch RCM Services
Revenue Cycle Management (RCM) covers a bunch of financial tasks in healthcare. It includes things like medical billing, coding, and managing payments. Outsourcing these jobs can help doctors focus more on patients and less on paperwork.
Healthcare money stuff can be really tricky, especially for doctors. We’re here to help take some of that stress off their shoulders. Lots of other companies do the same thing, but we do it for less money, making it easier for doctors to manage their finances.
Revenue Cycle Management
Looking for a good RCM services provider is really hard. With so many choices, finding one that fits your needs can be tough. Global Medical Billing Center has already solved these problems. Work with us if you want to make good money each month. We’ve started a process to show you how we can help you reach your goals. Below is a demonstration of our RCM process to help you understand it better.
Eligibility Check and Demographic Verifications:
The first thing we do when we provide RCM services is to check if the patient is eligible or verify their details. This helps us gather the patient’s information for the next steps.
Collection of co-pay/Balance:
In this step, we collect co-payments. Co-payments are the money that patients with health insurance pay for each healthcare service they receive.
Claim Creations validations and submissions:
Right after that, we move on to creating, validating, and submitting claims. This helps us strike a balance between identifying potential fraud and quickly validating legitimate claims from patients.
Correcting errors/denials:
Next, we concentrate on denial management services, where we pay close attention to denials. We carefully review claims, fix errors, and verify everything to prevent any obstacles when submitting claims.
Claim follow-up:
Once we’ve successfully submitted the claims, we follow up with the insurance companies. If you don’t have advanced software to set reminders for follow-ups, don’t worry, we’re here to assist you with that.
Statement of patient:
Next, we send a bill invoice or statement to the patient on behalf of the provider. This lets them know how much the insurance has paid and how much they still need to pay to the provider.
Collecting payment from patients:
We also handle collecting payments from the patients. If they forget or delay payments, we send them reminders to make sure everything gets settled.
Our Custom Billing Solutions To Heal Your Financial Injuries
Global Medical Billing Center was created to support providers in every way possible. With our efficient and expert approach to streamlining billing operations, we’ve introduced personalized billing solutions. We have experience working with multispecialty practices and understand all the coding and billing methods needed for your financial stability. Our services offer various benefits, such as:
- Our services are compliant with the latest healthcare industry’s protocols and regulations.
- We provide customized billing solutions at affordable rates.
- We offer result-oriented medical billing solutions.
- We can optimally handle billing processes of more than 50 specialties.
- We ensure 99.9 % successful claim acceptance.
- We can manage and reclaim your denied or rejected claims.
Services And Process Automation Within The RCM Services
We team up with medical practitioners and clinicians, serving clients from across the USA. Our aim is to help healthcare providers and organizations speed up reimbursements. With our assistance, clinicians can identify the reasons for revenue loss and work to eliminate them. Using our services can enhance the patient experience. Our services cover the entire revenue cycle management, divided into three categories.
The first phase involves the patient, known as the patient access area. This front-end process of RCM is crucial as it assesses and ensures accurate, timely revenue collection. Here are the steps involved in the front end of RCM:
Frontend Revenue Cycle Optimization
Patient appointment management and scheduling
This step, as the name suggests, focuses on the initial patient demographic information. Here, we handle patient appointments and ensure they are scheduled promptly. This helps reduce the number of missed appointments, saving practitioners time.
Eligibility Verification
This step is crucial, and we've already assisted many healthcare providers with it. In the eligibility verification process, we confirm insurance coverage, eligibility, and benefits. This practice ensures accurate billing and helps reduce claim denials.
Prior- Authorization
Our team manages the prior- authorization process efficiently. We make sure that our clients get the required approvals on time.
Patient Demographics
With nearly 11 years of experience in providing RCM services, managing PDS is no longer a challenge for us. We efficiently handle patient registration and demographic data. This service greatly benefits timely claims submission and accurate billing.
Expertly executing these steps helps streamline the revenue cycle, reducing billing errors and ensuring a consistent cash flow for healthcare providers. Any remaining gaps will be addressed in the Mid-Revenue Cycle, which includes the following steps:
Mid-Revenue Cycle Services
Initial Auditing and Charge Entry
We're thrilled to announce that we're the only company offering free initial audits. Our goal is to fully support medical practitioners. Schedule a consultation with us today and secure your free initial audit. During the charge audit, we make sure nothing is overlooked to ensure accurate billing and timely claims submission.
Medical Coding Services
Every part or step in RCM is crucial, but medical coding stands out as the primary one. Practitioners often invest heavily in hiring staff for medical billing to avoid the complexities of medical coding. However, partnering with us can be cost-effective for you. Our certified medical coders excel at assigning accurate codes to medical procedures, and we're proficient in handling medical coding software as well.
Revenue Integrity
We uphold revenue integrity by conducting regular audits. We continuously review billing processes and claims submissions to ensure accuracy and compliance. This practice is essential for maintaining revenue integrity and does not compromise it in any way.
Medical Coding Audit
In this process, we examine the medical records maintained by healthcare providers. Then, we review the billing data submitted by insurance payers. This helps us identify, monitor, and correct any coding errors that may have been made mistakenly or inappropriately.
Clinical Documentation Integrity
Clinical documentation integrity involves enhancing clinical documentation to ensure accurate and comprehensive records. This process facilitates clean and smooth claim submissions by identifying and correcting any discrepancies in the records. We excel at improving clinical documentation efficiency and ensuring compliance with regulations.
Back End Revenue Cycle Services
Remittance Processing
In this step, we process remittance EOBs and advice. This is done to make sure the payments will be credited to your accounts timely.
Accounts Receivable
Our experts manage accounts receivable, and make follow-ups. This is done to ensure the collection credit in time.
Denial Management
We focus on denial management and create follow-ups. As mentioned earlier we keenly work on purposes, responsible for denials. We efficiently manage claim denials which reduces the risk of revenue loss.
Key Benefits of Our Client-Oriented Lowest-Cost RCM Services
Advanced
Technology
We use advanced technology strategies to automate repetitive tasks, ensuring a smooth cash flow, minimizing billing errors, and achieving a 99% claim acceptance rate. Our integrated technology solutions facilitate seamless communication between various systems and stakeholders, enhancing efficiency and accuracy.
Cross-Functional Collaboration
RCM optimization is a continuous journey. We don’t just implement solutions and leave—we’re dedicated to ongoing improvement. By regularly monitoring, analyzing, and refining processes, we ensure that your RCM evolves with your practice’s needs and industry trends.
Continuous Improvement
RCM optimization is an ongoing process. We don’t just implement solutions and walk away—we’re committed to continuous improvement. Through regular monitoring, analysis, and refinement, we ensure that your RCM processes evolve alongside your practice’s needs and industry trends.
Data Analytics
Data-driven insights are essential for driving RCM optimization. Our expert team leverages advanced analytics to pinpoint areas that need improvement for effective revenue cycle management. Integrating data aids in making informed decisions to optimize the revenue cycle and foster business growth. Through data integration, physicians can identify areas where performance may be lacking and take targeted actions to improve.
Holistic Assessment
Leave the task of optimizing your revenue cycle management to us. We conduct a thorough review of your practice’s RCM processes, from patient enrollment to claims submission, and even handling payments. We take care of every aspect. By examining every detail of your revenue cycle management, we create a report and develop holistic solutions tailored to your needs.
Experience Top-To-Bottom RCM Optimization At Budget-Friendly Rates
Less Than 1% Rejections
Our dedicated revenue cycle management team is committed to validating advanced technologies and the latest revenue-generating strategies, aiming for less than 1% rejections. Ready to unlock your practice’s potential? Schedule an appointment to discover more about our custom RCM solutions.
99% Claim Acceptance Rate
At GMBC we claim that our claim acceptance rate is 99% because we understand the importance of a high claim acceptance rate for a successful medical practice. we go above and beyond to deliver exceptional service and results.
100% HIPAA-Compliant Process
Experience Peace of Mind with Our 100% HIPAA-Compliant Process. Proficient experts of GMBC understand the importance of safeguarding sensitive patient information. that is why we proudly say we offer a comprehensive 100% HIPAA-compliant process for all our services.
Starts From 2.33% Of Monthly Collections
We believe that every healthcare provider deserves access to top-notch revenue cycle optimization and management without having lacks or delays in their reimbursements. this is why we are offering our comprehensive RCM services at the lowest possible rates, starting from 2.33% of your monthly collection
Robust Practice Medical Billing Audits
Partner with GMBC and do not let billing errors and cashflow challenges hold your business back. we offer intelligent medical billing services to unlock the potential of your financial success. contact us today to learn more about how we can tailor our solutions to meet your practice’s requirements and goals.
Enhance Cash Flow And Reduce Billing Errors
Experience Peace of Mind with Our 100% HIPAA-Compliant Process. Proficient experts of GMBC understand the importance of safeguarding sensitive patient information. that is why we proudly say we offer a comprehensive 100% HIPAA-compliant process for all our services.
Our Integrated Approach to Solve Complex RCM Optimization Challenges
We know doctors have a lot on their plate, from treating patients to handling paperwork and money matters. It’s tough for smaller practices to handle billing on their own. That’s where we come in to support our healthcare heroes.
We offer a range of services to help optimize revenue cycles without breaking the bank. From pre-claim assistance to billing and coding, we’ve got it covered, so doctors can focus on what really matters: providing top-notch patient care.