Transforming Manual, Inefficient Processes and Reconciliation into Automated Workflows If your staff is currently overloaded with slow, time-consuming processes to accurately reconcile and post all of your payments (electronic and paper-based), then outsourcing this part of your revenue cycle may be an option to consider. Utilizing workflow automation and data validation technology, your organization can
Maintaining Timely, Accurate Payment Posting for Multiple PM Systems with Revenue Cycle Outsourcing Services Physician Practice Groups put significant training, IT resources and investment into their Practice Management (PM) Systems. These applications include billing processes and reporting tools that are critical to the financial health and cash management of an organization. Since significant investment has
Revenue Cycle Outsourcing (RCO) Services for Complex Business Environments Our client’s Clearinghouses and Banks play an important role in how medical claims are submitted and how insurance payors provide reimbursement back to the organization. Clearinghouse services go beyond just claim submission and remediation. Their services can also include eligibility and benefits checking, referral authorization, and
Automated Payment Posting and Reconciliation, Matched to Bank Deposits In today’s healthcare business office, complexities associated with numerous payment sources, along with robotic denials and adjustments by payors, can lead to delays in reimbursement and loss of revenue. Challenges with multiple payment streams and billing/coding errors ultimately reduce profits for provider organizations of all sizes.
Healthcare Claim Denials Are On the Rise – Learn How to Prevent Them ReMedics Denial Management business process automation and worklist solutions quickly isolate claim denials and defects. Denied claims are automatically captured, organized, and routed to the appropriate staff, facilitating timely and effective follow-up with third-party payors. Our extensive data validation processes also help
Streamlined Exception Processing for Today’s Revenue Cycle From remittance processing and data validation through bank reconciliation, ReMedics works to improve our client’s data quality and cash flow by detecting and correcting errors prior to posting. When claims do deviate from the norm and require human intervention, ReMedics creates exception-based worklists, designed to improve staff efficiency
Facilitating Autonomy for Practice Groups through Automated Reconciliation According to an article published by Chief Healthcare Executive® in 2024, corporate entities acquired 5,300 physician practices in 2022 and 2023. The percentage of corporate-owned practices rose 11% in those two years, while hospital-owned practices rose 7.3%. In many cases, these acquisitions occurred within an operating framework
What’s Your Revenue Cycle Goals for 2025? Let’s Talk About Healthcare Denial Prevention With the Right Data Validation Tools and Business Intelligence (BI) Technology, You Can Prevent Many of Your Denials Claim errors that lead to denials can have a significant impact on your revenue cycle by delaying or reducing payments from health insurance payors.
Revenue Cycle Services for Multi-Specialty Physician Practice Groups Designed to Support Growing Organizations For many Multi-Specialty Groups, having more than one Practice Management (PM) system isn’t that unusual. This is especially true for groups that have grown through mergers and acquisitions. In some cases, certain specialties may require unique features or functionalities not available in
Reducing Errors with Data Validation Healthcare claims and other billing documents contain a substantial amount of patient, provider and payor information that can originate from different sources and HIT applications — which then leave room for error. Common issues include duplicate entries, incorrect coding and incomplete data. Any inaccuracies in the processing of remittances for
Maintaining Your Autonomy with Joining or Forming an MSO Partnership With the formation of a Management Services Organization (MSO), efficiently processing and posting remittances for multiple practice management (PM) systems, clearinghouses and bank lockboxes can be challenge. This is especially true if all the groups are reporting to a single Tax ID and ERAs are
Outsourced RCM Services Designed to Grow with Your Business Mergers and acquisitions that include the use of multiple billing systems can bring a significant amount of manual work to reconcile, distribute and report on all payments being posted or re-worked. As organizations grow by adding dozens or more business units and multiple HIM sources, having
How to Maintain Cash Flow when Migrating Practice Management (PM) Systems While staffing shortages continue to create a variety of revenue cycle obstacles and cash flow interruptions, there are also a considerable number of groups in the process of researching and selecting a new Practice Management (PM) system. If you’re currently in that mode, or
Practical Solutions for Improving Accounts Receivables (A/R) Creating More Efficient A/R Processes Implementing A/R workflow improvements can have a significant impact on staff efficiency and cash flow. It’s important to first mention, however, the need for to capture and utilize all patient, government and third-party insurance payment information. Second, is the need to have simultaneous
Managing Revenue Cycle Processes for Multiple Clearinghouses to a Centralized Single Receiver Our client’s Clearinghouses and Banks play a key role in how medical claims are submitted and how insurance payors provide reimbursement back to the physician group. Clearinghouse services go beyond just claim submission and remediation. Their services can also include eligibility and benefits
Strategies for Revenue Cycle Outsourcing in a Co-Shared Business Model For many healthcare provider organizations, staffing shortages continue to create a variety of cash flow obstacles. In researching different outsourcing options, solutions will range from a specific area of need to a substantial portion of your business office. In most cases, ReMedics provides a co-shared
Supporting Multiple Divisions, PM Systems & Clearinghouses – to a Single Receiver Maintaining Current Practice Management IT Investments Physician Practice Groups and Management Services Organizations (MSOs) put significant resources and investment into their Practice Management (PM) Systems. These core business applications include billing processes and reporting tools that are vital to the financial health of
Revenue Cycle Outsourcing for Physician Groups: Integrating with Existing PM Systems ReMedics delivers fully integrated revenue cycle solutions and services that help to lower operational costs, increase staff productivity and optimize ROI. Our outsourced services, integrated with existing Practice Management (PM) Systems, modernizes the business office by eliminating manual processes associated with payment posting, check
Efficiently Repairing Exception-Based Healthcare Claim Errors Claim errors and missing information in patient billing can cost your organization valuable time and lost revenue. Identifying errors that cause delays in posting payments and getting them efficiently corrected is vital to financial performance. With ReMedics exception-based worklisting tools, we use over 300 customized data validation rules to
How Merging Physician Practice Groups Can Optimize Their Existing Infrastructure With 338,899 currently active physician group practices in the U.S., as reported by Definitive Healthcare¹, it’s inevitable that a large number of mergers and acquisitions will continue to occur for them to remain competitive and to expand their services. For many physician owners, however, maintaining
Providing the Tools to Maximize Staff Resources, Manage Healthcare Claim Denials, and Increase Cash Collections Denials are a line of business for the insurance companies, so you need experts and/or expertly designed technology allowing you to impact actual denials as quickly and efficiently as possible — while keeping overhead at a minimum. As they say,
Experiencing Healthcare Staffing Shortages? Consider Extended Business Office Services For healthcare providers who are experiencing staffing shortages and/or bottlenecks in various stages of their revenue cycle, it may be worth investigating Extended Business Office options. Identifying the right vendor, however, for your specific needs is critical to making the transition (to outsourcing) as efficient and
Automate Your Workflows with Healthcare Revenue Cycle BPO Are you looking to outsource some or all of your revenue cycle processes? With a unique blend of services + workflow automation technology, ReMedics provides fully outsourced BPO services across all healthcare delivery networks, including: Physician Groups; Hospitals; MSOs; DSOs; and Eye Care Networks. From Lockbox Payment
Improving Cash Management with Revenue Cycle Outsourcing Solutions Many of today’s automated solutions still generate a significant percentage of payment exceptions and defects. ReMedics specializes in revenue cycle optimization and the prevention of reimbursement delays with the use of AI, Robotics Process Automation (RPA) and Enterprise Content Management (ECM). With these technologies, ReMedics ensures that
Revenue Cycle Outsourcing: Pursuing Cash Flow Stability, Scalability and Workflow Efficiency Many of today’s physician practice groups and hospitals face numerous revenue cycle issues, including lower reimbursement rates, inconsistent cash flow, staffing challenges, and time-consuming claim denial processes. It’s been estimated that hospitals lose $68 billion each year due to billing errors alone. The challenges
Remittance Outsourcing for Management Services Organizations (MSOs) to a Single Receiver With physician practice group consolidation, efficiently processing and posting remittances for multiple practice management (PM) systems, clearinghouses and bank lockboxes can become significantly complex. This is especially true if all the groups are reporting to a single Tax ID and the clearinghouse ERAs are
Automated Data Extraction & Conversion with Advanced OCR/ICR Solutions Utilizing OCR/ICR with Extensive Rules-based, Machine Learning Techniques With a sizable number of insurance payers still sending paper documents to healthcare providers, ReMedics helps our clients to convert their paper EOBs to ANSI standard 835 electronic files. One of the many technology tools that ReMedics uses
Common Challenges with Physician Practice Group Mergers & Acquisitions Strategies for Success For practice groups planning a merger or acquisition, there are numerous challenges that can delay the process. Maintaining current Practice Management (PM) systems, deciding on how funds will get distributed and staffing decisions are just a few examples. ReMedics specializes in correcting many
Capturing Your Paper EOB’s and Correspondence Document Capture, Indexing & Retrieval With the ReMedics Document Management Portal, accounting personnel can quickly search and retrieve EOB and correspondence files by Patient Last Name, Check Number, Invoice Date, Paid Amount and many other “wildcard” options to easily identify any missing information needed for posting. By providing staff
Identifying and Re-Associating Provider Level Adjustments What Are Provider Level Adjustments? Provider Level Adjustments are used to convey adjustment information in 835 files that can increase or decrease healthcare provider payments. It can be confusing to follow and determine what is truly owed for a claim because overpayments are often made by healthcare insurance companies,
Converting EOBs to 835 Electronic Remittance Advice Optical Character Recognition (OCR) in its simplest form is the process whereby a paper document is scanned and the image is captured for processing data into a specific application, such as paper-based EOBs. The text is extracted from an image and converted into machine readable data (as 835
ReMedics and Your Bank Accounts The Process Behind the Processing Knowing how ReMedics interacts with our clients’ bank accounts is an important area of understanding the processing that takes place. For many of our clients, we work very closely with the bank associated with the “Corporate Lockbox” account. This is the account where ACH/EFT and
Denial Prevention and Increased Staff Efficiency Benjamin Franklin is credited with having coined the phrase, “An ounce of prevention is worth a pound of cure.” It’s as relevant today as it was in 1736, especially when it comes to healthcare payor denials. In a recent survey* reported by Becker’s Healthcare, over 500 Chief Financial Officers
Correspondence Document Management and Workflow Efficiency For healthcare provider organizations, unstructured content exists in a wide variety of file types and sources of information. Being able to quickly retrieve lockbox correspondence, indexed to the patient, can play a critical role in how fast your claims get paid, delayed or denied due to missing or inaccurate
Streamlining Post-Merger Integrations When merging two or more practice groups together, there’s a considerable amount of work to be done in negotiating agreements and in working through all of the organizational details. Some may say, however, that after the papers are signed, the real work is just getting started. When it comes to the revenue
Working in a Multi-Submitter, Single Receiver Business Environment For aggregated Physician Practice Groups that operate with business unit autonomy, these groups can often have multiple Practice Management (PM) Systems. In this complex scenario, ReMedics provides efficient remittance processing and reconciliation services whereby all of the revenue being reported to a single Tax ID/EIN can be
Augment Your Billing Staff with Outsourced Payment Processing For many physician groups, medical clinics and MSOs, staffing shortages in the business office have contributed to a variety of cash flow obstacles. A/R backlog continues to affect cash management as the volume of unpaid claims and denial rates remain a constant challenge. In a recent article
Managing Cash Flow in a Multi-Vendor Environment For larger practice groups and MSOs, the complexities of a multi-vendor environment can often inhibit efficiency and adversely affect cash flow. This is especially true for organizations with business units using a variety of EMR/Practice Management (PM) Systems and Clearinghouses to capture charges, process claims and receive payor
How to Keep Your Banking and Clearinghouse Relationships with a Practice Group Merger Banks provide several key services in the revenue cycle, starting with being the recipient of funds as well as EOBs and correspondence via lockbox services. Clearinghouses are are integral to healthcare providers in order for them to forward claim information and receiving
Keys to Managing Healthcare Claims and Payment Information Depending on your type of business and reporting requirements, efficiently managing high volumes of information from disparate systems can often require manually aggregating the data. With ReMedics specializing in the processing of healthcare insurance payments, and with creating operational efficiencies, our focus is on three specific
ReMedics Sponsoring 15th Annual Healthcare Finance and Growth Conference ReMedics is excited to announce our sponsorship of McGuireWoods 15th Annual Healthcare Finance and Growth Conference. The conference takes place on September 15th at the The Ritz-Carlton at 201 East Trade Street in Charlotte, North Carolina. Robert Zimmerman, ReMedics President and COO, to be a
Preventing and Managing Denials More Efficiently It’s no secret that claim denials can greatly affect the revenue cycle and profit loss. While appeals can be time-consuming and costly, it’s better than receiving no reimbursement at all. However, learning from past claim errors to avoid future denials with permanent revenue cycle improvements is the ideal solution
Growth Strategies with Physician Practice Group Aggregation Expanding a practice or MSO through Practice Group Aggregation can present a variety of revenue management obstacles that need to be planned for. One of the more challenging adjustments is when the newly acquired group is required to change its Practice Management (PM) system. This major disruption to
EOB Check Matching Technology and Payment Processing Efficiency Processing Physician Practice Group payments from multiple PM Systems and Clearinghouses to a single Tax ID/EIN requires a high degree of data accuracy and verification. The distribution of funds for separate divisions (or business units) also adds complexity to the work for MSOs and DSOs. To accomplish
Organizational Techniques to Maximize Follow-Up Staff Efficiency Nothing is going to completely eliminate payor denials. In fact, denials are on the rise. According to a survey of 131 hospital executives* conducted in Apr-May of 2021, they reported a 20 percent increase in claim denial rates in the past five years. The average denial rate shown
Using Power BI Analytics to Increase Revenue By utilizing analytical solutions with Microsoft’s Power BI, ReMedics provides our Practice Group clients with data visualization tools that help them to make informed revenue cycle decisions. By identifying and addressing negative trends and inconsistencies in key RCM areas, these reporting tools can help to develop process and
Automating and Improving Collection and Follow-Up Activities Revenue improvements can take place by making incremental changes in many different RCM areas — from Patient Registration and Remittance Processing, all the way through to Collections. In this article, we focus on automating and improving collection and follow up activities. With patient liabilities continuing to rise, it’s
Analyzing Trends for Permanent Revenue Cycle Improvements Having an accurate view of your daily billing and posting data is just one step in effectively managing revenue cycle improvement processes. Looking at historical and current data over a longer period of time, however, can help to identify hidden trends where revenue and/or cash flow could be
Segmenting Practice Group Bank Deposits by Business Unit For many of our clients, having the ability to segment bank deposits by business unit saves them a considerable amount of time and effort in managing their funds distribution. With ReMedics Reconciliation Services, bank deposits are segmented, balanced and reconciled daily for divisional and corporate-wide groups. It’s
Connecting Core Business Systems to a Single Cash Management Platform One of the major challenges of a Practice Group merger or acquisition is with the introduction of a new Practice Management System and Billing Application to an expanded group of physicians and their support staff. Significant IT time and costs go into data migration, training
Unlock Your Revenue Potential with Detailed Reporting, Scorecards & Data Analysis One of the many benefits of using ReMedics for your outsourced remittance processing, data validation and bank reconciliation needs, is the detailed reporting that we provide to your management team. ReMedics Reporting & Analytics solutions help you to visualize and analyze revenue cycle data
Utilizing Advanced OCR Technology for Converting Paper-Based EOBs One of the many technologies used by ReMedics to automate payment processing for our healthcare clients is Optical Character Recognition. Utilizing OCR technology, text is extracted from an image, such as paper-based EOBs, and converted into machine readable data. The problem with processing paper EOBs is they
Taking Control of Your Business Office Unstructured content plagues practically every healthcare organization. It’s the data that resides outside your organization’s core systems and processes. For patient care, it’s the patient information that exists outside your EMR. In patient finance, it’s the data outside your billing and financial systems. And in accounting, it lives beyond
Streamlined Workflows for Improved Processing Speed and Data Accuracy Automating the Capture and Routing of All Payments and Correspondence In order to streamline remittance processing work with minimal errors, ReMedics enhances the data capture of all payments to include adjustments, zero pays and comments. Integrated to any major Practice Management (PM) System (or multiple systems)
