Selecting the right revenue cycle management (RCM) system for your practice is no easy task. With variables such as cost and experience, it can be tricky to find the best one for your specific practice. This makes picking the right RCM system a daunting challenge for behavioral health providers. It’s usual for most behavioral health centers to rely on self-pay as their primary source of income and revenue. In other words, patients pay their bills on the spot, and insurance companies are usually not involved. Many of these facilities simply use software systems to help, failing to examine the best practices for billing.
This is where a reliable RCM platform comes into play.
As your behavioral health practice grows, the more payor enrollments you bring in. This creates complex issues for your RCM system to solve. For example, one payor from one state might not have the same rules and regulations as another payor from another state. These differences are caused primarily because billing services are mainly unstandardized, allowing each state and each payer the opportunity to do its own thing.
In this post, we’ll take a look at how a revenue cycle management system works and how it can benefit your behavioral health practice.
An Effective RCM Fits Well with Value-Based Care
A practice is only as strong as the values and ideals it holds. And when it comes to providing public care, patients want a practice that puts their best interests first. With a dedicated RCM system, your practice can elevate its value-based care by providing the streamlined documentation you need. But this implementation isn’t as simple as it sounds. Applying a revenue cycle management system to your practice can be a massive headache, especially for behavioral health facilities. With complex billing issues and vague guidelines, it’s difficult for behavioral health facilities to manage their revenue in-house. This is why it’s best to outsource some or all of your RCM services to a vendor specializing in behavioral health.
Developed to manage all phases of your revenue cycle, Saisystems’ RCM platform is a great choice for any long-term care facility. With features that eliminate administrative burdens, this RCM system gives you a chance to focus more on your patients and less on their payments. It also helps improve the visibility of your patient’s data, allowing you to make real-time decisions to provide proper care.
RCM Improves Patient Experience For Behavioral Health
Patient experience is a key metric used to measure the quality of care within a practice when it comes to long-term care. As the name suggests, patient experience consists of how a patient interacts with your practice, and if they are satisfied with the care they are given. A reliable RCM system helps improve the patient experience by streamlining the revenue management process. This allows hospitals and practices the chance to focus more on delivering quality and timely care.
Our RCM platform increases the innovation of your practice by transferring RCM functions to our highly-trained and knowledgeable team. This reduces the amount of administrative burden on your end while improving your overall collections. By pushing the responsibility onto us, you will be able to focus more on your patients and the care they need without having to worry about your revenue management.
A Reliable RCM System Cuts Costs For Behavioral Health
It’s no secret that the healthcare industry is one of the most expensive in the nation, especially when it comes to long-term care facilities like nursing homes. And as the cost of care continues to rise, more and more practices are struggling to keep up with the growing demands of the industry. With the help of an efficient RCM system, long-term care facilities can cut costs by reducing the likelihood of error and time commitment. This means that costs associated with managing your revenue are cut down tremendously.
With our Saisystems’ RCM system, long-term care facilities can reduce their margin of error when it comes to billing and payment. By utilizing our business intelligence tool, navigatEHR, our RCM platform can address crucial issues and solve them before they significantly affect your facility. This, in turn, simplifies the revenue management process for your practice, saving you substantial amounts with each error fixed.
Check out this post to learn more about how an effective RCM can cut costs for your long-term care facility.
RCM Paired With Behavioral Health
Navigating the ins and outs of long-term care can be tricky, especially when it comes to managing revenue. Saisystems’ state-of-the-art RCM platform makes managing your revenue easy, simplifying the billing process by eliminating payment interruptions, cutting down on revenue costs, and improving the patient experience.
Make sure to fill out the form below to learn more about our RCM system and how it can benefit your long-term care facility.