Successful revenue cycle management is integral to the successful operation of an Orthopedic practice. Management of the orthopedic revenue cycle and billing process may not be the core function of your healthcare group, but the revenue cycle is the lifeline of your practice, supporting services provided to every patient that comes through your doors. Revenue cycle management is a term to describe the entire financial cycle of a practice, which can include scheduling, registration, coding, billing, claim submission, denial management, appeals collections, financial advising, financial modeling, and more.
Revenue Cycle Management (RCM) is a process by which your orthopedic practice ensures its gets paid for all services rendered. But not just that you get paid, but paid what you are contractually obligated to be paid and in an efficient and compliant manner.
At HIS, we go above and beyond by staying up-to-date with government regulations, payor policies, shift in practice volume or payor mix, keeping a close watch on detailed metrics and key indicators to truly understand the financial health of your practice.
HIS’ strategy for revenue cycle management is the method of controlling and managing the entire process to ensure a medical practice collects all the funds owed for the services it provides and to provide the practice with the necessary information about their business to make informed decisions for the future.
As the leader of a practice, your focus should be on providing top-notch care to all of your patients. When your focus is on billing problems, denials, and past-due invoices; it isn't on your patients. HIS makes it easier for your practice to focus on the business of healing, while improving the flow of revenue, efficiency, and profitability of your office.
By outsourcing the management of your revenue cycle to HIS, you will not only minimize billing errors and staffing issues that cost your practice money, but will also see increased cash-flow, maximized reimbursements, and increased profitability.
The world of health insurance is becoming more and more complex as insurance companies demand more information at every stage of the revenue cycle. Allowing even one negligible error to slip may result in the claim being denied or only partially paid. If you cannot find or afford to keep staff with the orthopedic billing skills and education to support your operations, HIS can help.
We will assist with coverage verification, determining eligibility for services, ensuring clean claims, correctly identifying copays and deductibles, and collecting payment at the time service is rendered. HIS will improve your practice’s cash flow with unmatched denial management and appeal process services, all within an impressively quick turn-around.
HIS maximizes reimbursement for your practice through optimal coding, improved documentation, effective denial management, and appeals process. Our highly trained and educated team also monitors state and federal regulations and insurance changes that could impact your revenue procedures.
We will utilize our expertise and team of over 65 Certified Professional Coders (CPCs) . We promise to keep your practice compliant with changes in government regulations and payor policies while improving documentation to maximize your reimbursement. HIS knows and understands the complexity of the healthcare environment and will ensure your practice is compliant – no matter what.
HIS employs experienced and dedicated industry experts. Our team works to optimize workflows and increase revenues to make your practice as profitable as possible. We implement industry best practices that improve efficiency, boost revenues, and lower overhead costs – making you more profitable.
With trained professionals and over 40 years experience in revenue cycle management for Orthopedic practices, you can trust HIS’ proven track record and commitment to success.