Outsource medical billing to our team of certified medical billers. With their expertise in medical billing for doctors, you can count on them to show improvement in your billing processes. Our billing professionals regularly produce a 96% clean claims rate, 48 hour turnaround on denials, and improve your practice profitability.
They will operate transparently, giving you regular insight into your practice’s revenue, so that you know what’s working and what can be improved. With the billing dashboards in your cloud based electronic health record, you can view reports and graphs breaking down your revenue. CHITVAN offers your group practice or hospital comprehensive medical billing services. Our entire company is focused on achieving superior results for clients and running fully transparent operations.
Each revenue cycle management solution is delivered with a focus on the best results for your practice, hospital, agency or ASC.
Please contact us today to learn more: xxx-xxx-xxxx or info@chitvanhealthcare.com
Revenue Cycle Management or RCM typically refers to the entire medical billing process, from beginning to end.
Healthcare revenue cycle management begins when a patient makes an appointment to seek medical services. The process ends when organizations have collected all claims and patient payments. However, the life of a patient’s account is not as straightforward as it seems.
To start, when a patient arranges an appointment, administrative staff must handle the scheduling, insurance eligibility verification, and patient account establishment.
Pre-registration is key to optimizing revenue cycle management processes. Employees create a patient account that details medical histories and insurance coverages during this step.
“From the hospital’s perspective, our ability to enter the correct insurance, verify accurate demographics for the patient, and collect the patient’s financial responsibility at the front end all reduces rework throughout the revenue cycle and ultimately reduces potential denials. After a patient visit is complete, the healthcare provider must create a claims submission and complete charge capture duties.
The provider or coder identifies the treatment, determining how much reimbursement the entity will receive from the patient’s health plan. Selecting the most appropriate code for services can help prevent claim denials.
The charge capture process documents the services into billable fees.
After a claim is created, the practice sends the claim to the private or government payer for reimbursement. But the revenue cycle management does not end there for healthcare systems. Organizations still need to oversee back-end office tasks associated with claims reimbursements, including payment posting, statement processing, payment collections, and claim denials.
Once an insurance company evaluates the claim, healthcare organizations typically receive reimbursement for their services, depending on the patient’s coverage and payer contracts. In some cases, claims can be denied for various reasons, such as improper coding, missing items in the patient chart, or incomplete patient accounts.
For anything that insurance does not cover, healthcare organizations must notify and collect payments from the patient.
Healthcare revenue cycle management aims to develop a process that helps organizations receive payment in full for services as quickly as possible.
However, bills and claims in revenue cycle management are usually processed over a long period of time. Oftentimes, claims go back and forth between payers and providers for months until both parties resolve all issues. During remittance processing, the payer will either approve the claim and pay the provider or deny the claim.
Revenue cycle management may also be a lengthy process as patients do not always have the funds to pay medical bills immediately.
Hence, CHITVAN
In the medical billing industry, all parties have compliance responsibilities. Any provider dealing with Medicare and/or Medicaid has mandated compliance responsibilities from the Government. CHITVAN has always treated compliance as an integral part of the billing process. Every employee takes a comprehensive compliance journal at least once a year and CHITVAN endorses and fosters a culture of compliance in all phases of company operations. The goal is for each client to obtain the full reimbursement to which they are legally and ethically entitled, in a manner that fully complies with both the letter and the spirit of all applicable regulations and guidelines.
One of the biggest challenges for any healthcare organization today is staying current with the barrage of regulations as they are continually updated. With this inexpensive service, CHITVAN clients are notified via email immediately whenever an important regulation or rule is updated or changed.
Compliance Incident Support
When a potential compliance incident is identified, it is critical that the organization have a defined process in place to respond, effectively and timely. Since incidents should occur infrequently, it can be hard for an organization to have the necessary expertise in place. CHITVAN offers this service as an extension of your compliance office