Because plastic and reconstructive surgery is among the most complicated medical specialties when it comes to your patients’ personalized billing and authorization needs, it’s also one of the most challenging to obtain maximum coverage and reimbursement from insurance companies.
Like your specialization, your plastic and reconstructive surgery medical coding, billing and collections needs to be both art and science to be successful.
The AAPC provides six steps that revenue cycle management processes should include to ensure financial success:
1. Maintain productivity
2. Capture all charges
3. Verify clean information is being sent the first time (demographics, ins, coding, etc.)
4. Effective office collections
5. Effective collection policies and procedures
6. Regular review of contracted payer rates and operational costs
Partnering with the right revenue cycle management firm, especially one specializing in plastic and reconstructive surgery medical coding, billing and collections, can provide all of this and more. Making this transition will be one of the most important decisions you will make when it comes to the financial success of your practice.
Adding to the AAPC list are four more steps important for financial success that revMD.com provides:
7. Maintain control and know how your plastic and reconstructive surgery revenue cycle management is performing at any given moment with a detailed, real time reporting tool – RCM Console – scheduling reports when, where and how you want them.
8. Know your full revenue potential. Many practices often don’t. A new tool called the MedRev Index provides an easy, effective metric for assessing where you stand. It’s an algorithm index serving as a benchmark to clearly delineate your revenue performance. From there, a professional assessment can be made about future steps needed to increase your revenue reimbursement from your medical coding, billing and collections.
9. Eliminate the risk that comes with your revenue cycle management process transition. Will your new firm generate better results? There’s one offering a win-win called Assured Return. You pay only the percentage that aligns with your bottom line gain.
10. Build a bridge during your transition to better revenue cycle management (to revMD) and ensure your revenue stream continues uninterrupted. Unique in the industry, Revenue Bridge effectively bridges the gap by eliminating the risk to your cash flow by guaranteeing immediate payment on existing receivables at a fixed rate.
revMD.com is the results-proven alternative for healthcare revenue cycle management, with a niche specialization in plastic and reconstructive surgery medical coding and billing that generates unprecedented results and builds profitable medical practices. Leveraging a history of industry wide success spanning 25 years, revMD.com partners with medical practices in Arizona and throughout the U.S. to optimize revenue for hospital based and practice based physicians. For more information, visit www.revmd.com.
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