Maintaining Timely, Accurate Payment Posting for Multiple PM Systems 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 gone into these core business
Reconciliation and Audit Controls for Autonomous Practice Groups… 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 occured within an operating framework
Maintaining Your Autonomy with Joining or Forming an MSO 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 co-mingled
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: Integrated 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 matching, document retrieval,
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
Identifying and Re-Associating PLBs The following is an excerpt from our client support newsletter called “A Closer Look”, which provides helpful information in dealing with common payment processing, denial/defect and reconciliation issues. This particular article looked into the complexities associated with Provider Level Balance Adjustments (aka PLBs). If you would like to know more about
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
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
Maintaining Practice Management Systems After a Group Merger One of the many details to be navigated when facilitating a merger (or acquisition) is with switching an entire group of doctors and their support staff over to a dissimilar Practice Management System. The additional time spent with installation, staff training and vendor support can result in
Strategies for Maintaining Billing Processes and Cash Flow Physician Practice Groups, MSOs and DSOs put significant training, IT resources and investment into their Practice Management (PM) Systems. These applications include billing processes and reporting tools that are the backbone of being able to manage and measure the financial health of an organization. Since significant effort
