Revenue Cycle Services for Hospitals and Health Systems
While ReMedics is primarily known for its services to Physician Practice Groups and Management Services Organizations (MSOs), we also reinforce and support revenue cycle staff for Hospitals and Health Systems. For provider organizations with a variety of hospitals and clinic locations, staffing shortages in the business office can often contribute to revenue and cash flow issues. A consistent increase in unpaid claims and A/R backlog are just a few examples that can quickly escalate if left unchecked.
Adding to the complexities of maintaining revenue, many health systems are also in the process of updating or changing their legacy EMR or Practice Management (PM) Systems. Hospital mergers and acquisitions can also require a significant amount of manual work to reconcile, distribute and report on all payments being posted or re-worked for multiple systems. ReMedics can alleviate many of the worries that come with change with a mix of services, technology, and systems integration capabilities.
Opportunities for Staff Augmentation
In obtaining help with outsourced RCM services, ReMedics options range from specific areas of need, such as EDI Splitting and EOB conversions, to outsourcing your entire remittance processing and reconciliation needs. We can also provide comprehensive collection services, with customized follow up activity based upon the type of denial, by payer, aging, dollar value and other criteria.
One of the first steps in preparing to outsource is to identify those processes where we can deliver RCM services with the highest impact on your bottom line. To assist with your project, ReMedics can perform a Cost Benefit/ROI Analysis of your current state. This can be accomplished over a few discovery calls and a day or two of on-site assessments with your respective teams — from billing to treasury reconciliation and posting, to A/R and collections. From these findings, a Statement of Work (SOW) can then be created to outline those processes and services where we can deliver the most impact in a cost-effective and timely manner.
Adding AI & Workflow Automation to Your Revenue Cycle
In performing RCM services to our customers, RCMS LLC (a ReMedics sister company), provides our Operations Team in Cleveland, Ohio with a variety of AI and workflow automation tools that eliminate many of the manual processes typically seen in a business office. From correspondence indexing and payment processing to data validation and bank reconciliation, RCMS’ ReSolve® Technology optimizes all data capture, document capture, EDI splitting and workflow processes, creating greater efficiencies for our staff… and for yours! Our services can also include the processing of PLB adjustments, co-pays, deductibles, co-insurance, transfers, write-offs, take-backs, remark codes, denials and much more. The result is lower operating costs, improved cash flow and increased efficiency, allowing staff to focus on customer service and eliminating any backlog in Accounts Receivables (AR).
Remittance Processing and Payment Posting for Multiple EMR & PM Systems
For Hospitals and Health Systems with multiple EHR/EMRs and PM systems, ReSolve® provides the means to consolidate resources. By using automation technology for improving workflow processes across multiple systems, we can significantly reduce and/or eliminate repetitive data entry that is prone to human error and a waste of valuable resources.
Contact ReMedics
Outsourcing even just a small portion of your back-office functions with our data cleansing services allows for reduced administrative costs that would otherwise be used to correct and resubmit claims. Talk to ReMedics about outsourcing your revenue cycle needs and with implementing technology improvements for your organization. Contact ReMedics here — or call 440-671-7700.