The Right Reimbursements at the Right Time
You didn’t go to medical school to manage a finance department, but at the same time you need to make sure your business is profitable. The only way that happens is if payments are coming in on time and at the correct level. If you are one of those providers that find themselves handling their own Revenue Cycle Management (RCM) system, you may be unaware of the risks involved.
Risk-Free RCM Outsourcing Comes Down to Time and Quality
There are 10 steps in an RCM system. Each one of those has the potential to either delay or lose the payment by either failing to meet the required timeframes for submission or submitting incorrect or inadequate information.
Medical school focuses on medicine, not on billing and collections, which means providers are not often fully trained in this area. Eliminate the extra burden of finances with outsourced Physician Office Billing and Collections with AQuity Solutions. Our team specializes in this area and goes the extra mile for each step in the process to ensure maximum justifiable profitability. We make sure you get the right payments at the right time so you can focus on why you got into medicine in the first place – patient care.
Steps We Take to Ensure Accuracy and Timeliness
Each step of the RCM system needs to beat the timely filing limit while also ensuring accuracy. The quality of the claim that is going out not only determines the amount of reimbursement but how quickly that payment is received. AQuity ensures accuracy and timeliness within each individual step, including:
- Validating insurance prior to appointments
We check benefits and whether procedures are covered before they happen. This way we can contact the patient on whether they want to proceed with any services out of pocket. According to Medical Economics, it’s best practice to avoid surprises for the patient on billing by providing transparency.
- Providing medical coding review and education
Diagnosis and procedure codes need to be accurate. We eliminate errors before any claims leave our system so that they do not get denied later in the process. Our team gives feedback on how to improve coding and documentation going forward for better reimbursement. AQuity also offers options to reduce coding workload and costs, helping solve any coder overtime burnout.
- Meeting deadlines and following through
From claim submissions to denials, the deadlines vary but AQuity keeps up with each one as payments are directly tied to accurate and prompt filing. Whether it’s confirming with insurance companies directly when authorization numbers are not required, making sure patient information from the electronic health record (EHR) matches exactly to their insurance, or regularly uploading CMS billing amounts to ensure the proper amount is billed, AQuity follows through to ensure the most accurate filing as possible to reduce denials. Our clients see denial rates of less than 2%. And when there are any denials, we address them daily so that they do not get delayed any further.
Quality, Consistency, and Control
We know how difficult it is to manage all the various aspects of a medical practice while also providing the best patient care possible. There’s often an area that doesn’t get the highest quality output possible when juggling so many areas. AQuity Physician Office Billing & Collections can handle your RCM system, providing you with the maximum justifiable revenue while you can focus on the important matters of patient care.
We ensure proper coding, consistently providing you with the highest quality claims to keep your business profitable. With transparency for both you and your patients, we work within your preferred workflow to optimize results, so you maintain control.
Let AQuity Physician Office Billing & Collections follow up and follow through with risk-free RCM outsourcing so you can go from managing finances back to managing care.