Value-Based RCM Services at HIS
Healthcare Information Services (HIS) proudly offers a wide range of RCM services for all types of medical practices. Optimizing RCM for value-based care requires a very different mindset, set of work culture and skills, and supporting technology to be able to track what’s going on when patients leave your office. Our goal is to help you implement successful RCM processes to ensure financial viability and consistent delivery of high-quality care to patients. Clients usually see an 11.2% increase in overall reimbursements when outsourcing their RCM to us.
What is a Value-Based Revenue Cycle?
The health IT landscape is constantly evolving, and healthcare technology is undergoing an industry-wide transition from fee-for-service to value-based care. The shift requires providers to revisit their existing revenue cycle management (RCM) approaches and adjust accordingly. The fee-for-service model is a straightforward process involving proper documentation of medical encounters in the electronic health record (EHR), claims submission, and payment.
Now, with the value-based care model, reimbursement is dependent on the quality of patient care rather than quantity. Payments are established based on the performance of the physicians and historical prices of the services rendered. Beyond that, it creates a system in which to run an effective revenue cycle, healthcare providers must work hard to find ways to cut costs while improving the level of care provided.
Maximize Your Vaule-Based RCM With Our Other Services
At HIS, our expertise in the healthcare industry runs deep. Along with our value-based reimbursements, we offer a full suite of RCM services, ranging from denial and appeals management to remote monitoring services.
Looking to improve your RCM performance? Contact us today to schedule a free consultation.
How The Shift to Value-Based Care is Impacting RCM
The best way to help navigate value-based care is by aligning your financial and clinical operations. Healthcare organizations cannot afford to leave money on the table as a result of disjointed systems, processes, or resources. A cohesive RCM strategy allows administrative staff and physicians to improve financial and clinical outcomes, the patient experience, and access to care. In addition, an integrated platform that promotes transparency will help establish trust, improve engagement, and build loyalty.
Benefits of a Value-Based Care Model
Since healthcare costs are rising and patient satisfaction is often not, it has become vital to adopt new techniques for billing and revenue cycle management. Value-based care is the type of care delivery and payment system that many organizations and government entities are eyeing as a solution. VBC provides a wide range of benefits, including:
- Increased patient satisfaction
- Lower costs
- Overall reduction in medical errors
- Society becomes healthier overall
- Prices will begin to reflect value
- Keeps patients informed
- Encourages healthy habits
Implement a Value-Based Care Model with HIS
In today’s complex environment, it is challenging for healthcare providers to keep up with increasing customer demands while staying profitable — that’s where we come in. HIS provides revenue cycle management services focused on value-based care for medical practices throughout the United States. We will work closely with you to optimize workflows, improve cost-effectiveness, and build a healthier bottom line. Contact us for more information or to schedule a consultation with one of our specialists today!
Healthcare Industry Updates and Articles
Read our most recent blogs and news from the world of medical billing and practice management.
