MSO Revenue Cycle Outsourcing for Multiple Practice Management Systems
Among ReMedics’ clients are several Management Services Organizations (MSO) having a considerable number of affiliated Physician Groups. The MSO platforms provide a variety of non-medical administrative functions to each practice, such as billing, creating operational efficiencies and reduced overhead. This allows doctors and other providers to focus more on caring for the patient instead of the business side of the organization.
In many MSO business environments, revenue cycle activities are typically centralized. This also means that claims and payments may also be processed using a single Tax ID (or EIN) for multiple divisions — while using a variety of EMR & Practice Management (PM) Systems. These payments then need to be ‘split’ and processed to the appropriate PM System, Patient Record and Bank Account.
This is a common problem for larger Physician Practice Groups as well (with having multiple PM Systems and Clearinghouses) as a result of a merger or acquisition.
ReMedics Service Benefits for Complex Environments
By utilizing ReMedics RCO services, we implement proprietary workflow automation technology to efficiently manage the data capture, splitting, batch balancing, data validation and bank reconciliation. Designed as a co-shared processing model for the purpose of supporting multiple divisions, we often refer to these services as a ‘Multi-Submitter, Single Receiver’ environment.
With our solutions, we will split all co-mingled ERAs to each division (often within 24 hours) and direct the normalized 835 files to be posted through the correct PM system. We also provide for check matching (for more accurate payment posting and reconciliation) and PLB adjustments. Our data validation services also ensure that correct information is applied to the patient account by helping to scrub and cleanse all of the captured data prior to posting.
Our Reporting & Analytics providing a centralized location to obtain details on all payments, denial/defects, co-pays, deductibles and contractual allowances.
Contact ReMedics
Whether you’re an MSO looking for services like ours or a growing Practice Group (through mergers or acquisitions), let us know some details about your outsourcing requirements. Contact ReMedics today to set up a conference call or presentation with our experienced executive team.
*ReMedics leverages the ERA Splitting and Remittance Processing capabilities of ReSolve® AI and Workflow Automation Technology provided by our sister company RCMS, LLC.