Maintaining 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 contemplating the move, developing a systematic, planned migration that keeps cash flowing should be at the top of your priority list. 

Whatever system you’re moving to (or moving away from), one of the first steps in planning is to identify those processes where an outsourcing partner can deliver the most stability with your cash flow — while working with your revenue cycle team before, during, and after the transition.  

How Can ReMedics Augment Your Business Office?

For Physician Practice Groups and MSOs, ReMedics provides a co-shared service model that amplifies the business office with outsourced remittance processing, data validation, faster turnaround on posting payments and bank reconciliation. Our services and technology are customized to each client and their system’s billing application. This is also true for organizations with multiple EMR/PM Systems, Clearinghouses and Banks as a result of mergers and/or acquisitions. ReMedics will also provide for the splitting of ERAs. With our services, switching over from one system to another becomes a much simpler and strategically timed process.

Reporting & Data Analytics

ReMedics provides pre-defined detailed reports and scorecards with all of the data needed for monitoring the payments being processed — across all divisions. We also utilize Microsoft’s Power BI as a data source for more detailed drill-down analysis of your business.

Contact ReMedics

If a migration or merger/acquisition is in your future plans, ReMedics can help to make sure your  financial performance doesn’t suffer by minimizing posting backlogs and by distributing funds to different business groups or divisions. Contact ReMedics today to help with developing a systematic, planned migration that will keep cash flowing.