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
ReMedics Talks – Part Two of a Series Subject: Using Automated Data Validation Processes and Analytics to Prevent Claim Errors and to Identify the Root Cause of Recurring Denials Claim denials greatly impact the revenue cycle by delaying or reducing payments from payors to providers. And while denials can cause a significant amount of revenue
ReMedics Talks – Part One of a Series Subject: Practice Group Consolidation and Our Use of Technology for Multi-System Remittance Processing In this two-minute video, the ReMedics management team talks about practice group consolidation and multi-system remittance processing with the use of robotics process automation. For rapidly expanding Physician Practice Groups, we are uniquely positioned
Join us at the 2023 MGMA Leaders Conference Stop and See ReMedics in Nashville, TN — Booth #636 ReMedics will be exhibiting at the MGMA 2023 Leaders Conference taking place October 22-25 at the Music City Center in the heart of downtown Nashville, Tennessee. The conference is the industry’s premier event for physician practice group
ReMedics Announces Comprehensive Collection Services New Service Line Available to Healthcare Provider Clients We’re excited to announce that ReMedics is starting a new co-shared service line that will provide comprehensive collection solutions to our clients. As part of its services, ReMedics will be providing its clients with dynamic reporting options to quickly review details on
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
Automating Revenue Cycle Processes for Electronic and Paper Payments Streamlined Workflows for Improved Processing Speed and Data Accuracy 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) and
Advanced OCR/ICR Solutions for Automated Data Extraction & Conversion 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
