Billing/Revenue Cycle Analysis

Practice owners and their staff need and deserve peace of mind that their Billing/Revenue Cycle is well defined, running efficiently, and monitored. recognizing the impact… No practice owner has to be told operating margins have declined over the years. Collecting all revenue due to the practice is paramount. A complete analysis of the revenue cycle can help to reveal underlying issues inhibiting cash flow and decreasing bottom lines. identifying the issue… First and foremost, we listen to the concerns of the practice owners and management. A well-planned analysis should include a review of all stages of the revenue cycle. MedSupport’s review includes a review of key performance indicators (KPI), managed care contracts, charge master, patient registration, verification of insurance, charge capture, account follow-up, explanations of benefits, denial management, collection agency management, account adjustments, staff levels and qualifications, revenue cycle policy & procedure, and the use of your practice management software. formulating the best solution… The results of our analysis will be reported to the practice in a detailed report including KPIs with definitions and comparisons, a narrative of our review approach to each stage of the revenue cycle, the team’s findings, and recommendations for improvement including a work plan to implement the recommendations. gaining acceptance… Our objective is to gain acceptance as a practice partner and not be viewed as an outsider. Our aim is to create a team with the central purpose of improving the cash flow and bottom line of the practice. doing what is right… MedSupport diligently seeks to better our clients’ operations while approaching every aspect of our engagement with compliance in mind. implementing the plan… We will be available to assist the practice with project leadership or as a team member to implement the recommendations included in our analysis.