Billing can be time-consuming and overwhelming. Billing mistakes can cost you more than just lost profit. This is where an all-inclusive, specialized EMR software solution can help. By choosing the right software that‘s built with the ability to handle to specific needs of physical therapists, you get the help where you need it most – Revenue Cycle Management.
What is Revenue Cycle Management (RCM)?
Revenue Cycle Management (RCM) encompasses the need to identify, collect, and manage revenue from payers based on services provided. It is important to understand the revenue cycle itself. Once you understand this, it is easier to see why you need to manage the process every step of the way.
The cycle starts with a patient making an appointment and ends with collecting payment. The stages in between are where there can be inaccuracies that lead to missed payments– improper coding, canceled appointments, missing/incorrect information, and more. EMR Software like A2C Medical is used to provide comprehensive revenue cycle management – dedicated billing specialists handling the submission of claims to insurance, ensuring the claims are correct, fixing errors, and getting clinics paid faster.
Why is RCM useful for physical therapy practices?
The benefits of RCM for a physical therapy practice can be numerous, but here are a few:
Financial viability – A physical therapy practice has ongoing expenses, from payroll to equipment maintenance. Utilize RCM services to keep a steady stream of revenue to ensure you can keep up with your operating expenses.
Time Management – With RCM your clinic doesn’t have to handle processing – ensuring there’s more time to dedicate to patients. RCM services can handle all of the details such as insufficient information or billing errors that can lead to late or missed payments.
Customized Plan – RCM helps you put the same consideration into your medical billing practice as you would a patient treatment plan. Billing specialists can help you customize your approach to the entire revenue cycle to improve collections, instead of a “one-size-fits-all” approach.
Organization – Using an all-inclusive EMR software allows you to stay organized – as opposed to trying to integrate into existing software that may be outdated. Items such as documents and reporting work hand–in–hand with Revenue Cycle Management to provide a complete patient record that can be seen by front office staff, practitioners, and other providers when necessary. Have the answers you need at your fingertips with organized, easy to view data to avoid delayed payments.
Dealing with Insurance – Within a physical therapy practice insurance is widely used, which means dealing with claims. Claim generation can be complicated with every patient having a different list of services to invoice. After a rigorous scrubbing and validation process, the A2C Medical software examines checked in visits that are unbilled and classifies them as billable or nonbillable.
A2C Medical EMR and RCM
At A2C Medical, we take a unified approach with our EMR software. Data is entered once and shared across all modules. Generally, this means that information is collected from the patient and reviewed when they make their appointment. The same data follows them throughout the system and is used for billing, ensuring that no data is incorrect or missing. Utilizing A2C Medical’s EMR and RCM services means our dedicated billing specialists will identify and track every stage of the Revenue Cycle within the software, ensuring this is the only software you need.
How can I learn more?
Are you ready to learn how A2C Medical and our dedicated billing specialists can take the burden out of billing for your clinic? Contact us today to schedule a demo.