When it comes to running a successful PALTC practice, having the right RCM service to manage your revenue is crucial. It’s an integral yet complicated aspect of ensuring that your practice is running at optimal efficiency. But even with the right RCM system, there are common RCM pain points that a practice must avoid in order to be successful. Luckily, Saisystems Health has developed a state-of-the-art RCM service that provides viable solutions to these pitfalls.
In this post, we’ll take a look at the following pain points and how our RCM system can resolve them:
- Billing and Collection errors
- Lack of training and resources
- Outdated tech
RCM Pain Point 1: Billing and Collection Errors
While errors in billing are nothing new, many PALTC professionals may not know how much is actually lost each year due to avoidable errors in collections. In fact, many professionals from Becker’s Hospital Review claim that errors occur in as much as 80 percent of all medical bills. But how do these occur? And better yet, how does one prevent them?
As processes are rushed, revenue data and information can be lost, often leading to a delay in care delivery. This ultimately can negatively impact the patient experience, causing a hit to your practice’s reputation. To avoid these errors, you must understand the three most common problems in billing:
- The coding is not specific enough.
- A claim is missing information.
- Claims not filed on time.
To combat these problems, our RCM system manages all phases of your revenue cycle, keeping a keen and watchful eye over all your data. This end-to-end system is only elevated by a team of experts dedicated to addressing critical issues before they can affect your practice. Our system backs up your revenue with insightful data to ensure that your claims are filed correctly, efficiently, and on time. Not to mention that this service also utilizes our business intelligence tool, navigatEHR, to ensure that your coding data is detailed and airtight.
RCM Pain Point 2: Lack of Training and Resources
Practice makes perfect. It’s an adage as old as time because it’s a universal truth. After all, Hendrix wasn’t an artist without the guitar, and Magic an athlete without a ball and court. So even if you had the best RCM system in the world, you would still need to know how to use it. Even in the biggest organizations, a great deal of training is required to bring success. This not only ensures that everyone is on the same page but that they are fully compliant with the ins and outs of any RCM system. But sometimes, getting this training is much easier said than done.
Due to the high volume demands of the billing process, finding enough time for the proper training can be a bit challenging. Not to mention, expensive. Because of this, many practices struggle with finding the appropriate funding and time to provide the necessary training.
So how do PALTC professionals make time for this training without taking time away from their patients?
Saisystems Health’s RCM service provides each practice with a designated Customer Relationship Management and Account Manager to guide you as an operational and strategic consultant, giving you and your practice the proper training for an onsite transition. This feature provides your practice with enough direction and insight so you can identify and understand your financial trends and performance.
RCM Pain Point 3: Outdated Tech
As the industry grows, so does the technology it uses. And when it comes to the patient’s journey, every step of the way is dictated by technology. However, sometimes these advances in technology make certain pieces of tech, like an RCM system, outdated and unreliable. So as time passes and technology evolves, how does one stay ahead when managing revenue?
Our RCM service utilizes state-of-the-art tech to reinforce your practice’s revenue with insightful data. By using this tech, we have developed a system that uses robust reporting and analytics to provide you with the most accurate data in a timely manner. This will allow you enough time to properly care for your patients and provide you with the necessary insight into their billing and payment history. Plus, our system delivers clear, transparent data faster than most RCM services, keeping you and your practice ahead of the curve for all technological advancements.
RCM Wrapped-Up
If you take anything away from this post, it should be that managing your practice’s revenue is no easy feat. It’s a task that requires a lot of discipline, patience, and, most importantly, a reliable RCM system. With Saisystems’ RCM service, PALTC professionals can avoid the typical pitfalls of revenue management. To solve common billing and collecting errors, our system manages all phases of your revenue management to ensure that most claims are filed on time with the correct information. Not to mention that this system provides in-depth training for any onsite transition. But none of this would be possible if it wasn’t for the durable tech supporting this system. With robust reporting and analytic features, our RCM service provides you with reliable, accurate data efficiently and timely.
Make sure to fill out the form below to learn more about our RCM service and how it can benefit your PALTC practice.