The Buffalo News, western New York’s no. 1 news source, recently picked up one of our press releases that discussed Revenue Cycle Management. Read the full Press Release here.
The burden of collecting payment from multiple sources often contributes to physician burnout, and even the closure of small practices, making health care for families in rural and urban settings more and more challenging. For any ambulatory medical practice, from family medicine to pain management, Revenue Cycle Management (RCM) can augment front office staff with a dedicated team of task-specific experts to address patient communications, insurance issues, and medical coding. By subscribing to RCM, a doctor can shorten payment cycles and improve payment rates, which strengthen the practice’s financial stability and provide peace of mind.
A recent study shows that RCM service subscribers are twice as likely to receive a 99 percent claim payment rate as those who self-manage the medical billing process. Adding RCM on top of PrognoCIS Electronic Health Records (EHR) and Practice Management software, doubles a medical practice’s chances of achieving a consistent 99 percent payment rate month-to-month. The study detailing medical billing payments is available online at PrognoCIS.com.
Kristen Nehk, Director of PrognoCIS RCM services, explains, “Practices that achieve the milestone of a 99 percent claim payment rate with RCM services have optimized their revenue, usually at a much lower cost than hiring additional employees.” These practices often realize increased satisfaction levels among their patients when the staff has more time to focus on them when they are in the office for an appointment.
PrognoCIS RCM services provide dedicated account managers and detailed monthly reporting in addition to online electronic medical record software. The service delivers maximum revenue and shortened payment cycles for health care providers. RCM services by PrognoCIS make running a medical practice easier, accelerates payments and delivers a continually growing account receivable balance. Learn more at https://prognocis.com/medical-billing/.