With Modernizing Medicine’s RCM service, you can have peace of mind knowing our combined use of technology, people and proven processes can help you to:
- Improve your revenue cycle
- Lower claim denials
- Increase patient collections
- Achieve more profitability
- Grow your business
Physicians recognize the added benefits and convenience of having a single source for the combined technology and services needed to run their practices and optimize results.
Clients choosing our Electronic Medical Assistant™ (EMA) as their preferred electronic medical records (EMR) system along with our billing service can experience more efficient, streamlined workflow and billing processes at the point of care.
Using EMA with our other specialty-specific services can give you the convenience of a one-stop shop. Plus, you get future development focused on enhancing all products and services to work better together than if you chose different solutions from multiple vendors.
When you select both EMA and Revenue Cycle Management, you get a specialty-specific focus across the board.
Many practices miss the mark on financial performance because they aren’t analyzing all of the factors that impact revenue. To see how you measure up, look at all of the metrics and consider the impact of the following:
- Total Clinical Collections — How much do you generate in total clinical collections?
- Net Collection Ratio — What percentage of money do you collect against the amount you are legally owed?
- Adjustments/Write-Offs — What are your current insurance adjustments? Are all of your write-offs justified?
- Days Sales Outstanding — How long is it taking you to collect money from the date of service?
- Aged A/R Analysis — What are your current A/R balances? Is the majority (85% or higher) collected within 0-60 days?
We can help you take a closer look at these key performance indicators and work with you to improve them.
Since using RCM, our patient collections have been the best they’ve ever been and our accounts receivables have decreased significantly. Modernizing Medicine manages the entire billing process, from the time the patient comes in until the time we are paid.
– Marie Miller, Office Manager