Improving Revenue Cycle Management with Business Process Automation and RCM Outsourcing Services
ReMedics leverages decades of services, software development and workflow design experience to help customers lower costs and achieve substantial revenue cycle management ROI. Our practice group healthcare customers maximize the value of their information by leveraging core applications with our payment processing, data validation and bank reconciliation services to improve their operations and overall financial performance. We offer a wide range of outsourced RCM solutions that tightly integrate with existing infrastructure to improve the flow of claims, remittance and insurance data throughout a department or across the entire enterprise.
Achieving Success with Practice Group Mergers & Acquisitions
Physician Practice Group M&A transactions, with aggregation strategies designed to reduce costs while increasing revenue, continue to change the healthcare landscape. Recent merger announcements have also included prominent Dental and Ophthalmology groups. While many practices gain leverage from joining larger entities, the changes often come with significant IT spend and loss of practice autonomy. ReMedics facilitates group consolidation with its uniquely connected revenue cycle management (RCM) platform, maintaining autonomy for each business unit without the need to change EMR and Practice Management systems. Strategic business partnerships enable us to deliver fully integrated patient financial management solutions and BPO services that lower operational costs, increase productivity and deliver a measurable ROI.
Practice Management System Conversion & Migration
Continuation of the business and cash flow is essential to every group practice. If you’re planning for a change to your Practice Management System (PM), ReMedics can work with your IT team to make that conversion easier. We can help to develop a migration strategy that cuts over all business units at the same time — or a strategy that plans for phased implementation. ReMedics is system agnostic! With our technology and workflow automation in place, we can split your remittance processing by business unit (utilizing the two separate systems) until all groups and their support staff are ready for a complete changeover. Because ReMedics is uniquely positioned to work with multiple EMR and PMS systems to a single cash management platform, clients can be confident that their new system is working properly before completely cutting over to a new system. ReMedics also works with technology partners, such as RCMS LLC, to provide systems management and support for specific technology applications, including Enterprise Content Management (ECM).
Modernizing Your Payment Life-Cycle with Automated Workflow Processes
The ReMedics solution for Remittance Processing modernizes the payment life-cycle by eliminating manual work tasks associated with payment capture, check matching, posting, document indexing, remark/reason code translation, bank reconciliation and reporting. Our Business Process Outsourcing (BPO) options deliver a cost-effective alternative to inefficient, error prone tasks that allows your business office personnel to focus more on revenue generating activities and customer service.
ReMedics streamlines the payment process for all paper and electronic (even non-835 ERA files such as spreadsheet-based) remittance advice. This includes comprehensive paper to 835 conversion services, as well as conversion of remark codes to HIPAA-standard codes for payers. ReMedics works with banking institutions through both retail and wholesale lockboxes for payment consolidation and document capture of paper remittances and correspondence. Once processed, ReMedics provides normalized 835 files split by division for direct integration to your Practice Management System(s) in a multi-submitter, single receiver environment. Reconciliation of all lockbox/remittances is completed through our Treasury Reconciliation solution whereby corporate bank deposits are segmented by division, balanced, and reconciled daily at both the divisional and enterprise level.
Centralized Data and Document Management… Integrated with Your Existing Infrastructure
Deliverables to our clients also include reporting and document management. They are a by-product of our unique workflow, providing a centralized location to obtain details on payments, denials and reimbursements. All correspondence and remittance documentation can be accessed by utilizing the ReMedics Client Portal, where documents are indexed at both batch and patient folder levels for timely retrievals. This documentation portal supports tasks such as appeals, secondary billing, audit requests and other collection-based activities, resulting in a streamlined workflow that eliminates paper and integrates with your existing clearinghouse(s), patient accounting systems/EMR and banking partners. In return, your practice reduces organizational IT spend and maintains system-wide autonomy.
Contact us to learn more about how our unique blend of outsourced services and workflow automation technology can assist your organization with making permanent Revenue Cycle Management improvements.