What is Revenue Cycle Management for Healthcare Organizations?
Managing your healthcare organization – be it a large hospital or a single-provider practice – can be extremely difficult for physicians and office staff. Poorly managed revenue can lead to a significantly lower profit margin, clerical errors, problems with insurance providers and shortage of staff to fill requirements.
Healthcare revenue cycle management means taking extra measures in administrative and clerical functions to ensure that your practice is paid all money owed to you by your patients and their insurance companies, as well as ensuring that this is done in a timely fashion. At a medical practice, the “revenue cycle” is defined as beginning the moment a patient calls to make an appointment and ending when all money associated with the services rendered has been paid.
Why Choose AR Logix, Inc. As Your Revenue Cycle Partners?
An AR Logix, Inc. customizable medical revenue cycle solutions give your medical organization a way to manage the entire patient encounter. An increasingly complex management of insurance claims, insurance denials, pre-registration, payment monitoring, patient follow-up calls, Medicare/Medicaid eligibility and more, means that the tasks associated with the revenue cycle are only increasing – and more office work can be a difficult burden for you and your staff. Not surprisingly, the medical industry is seeing declining rates of reimbursement. Combine this with increased business operating costs, and the importance of maximizing revenue for your business is even greater.
By making AR Logix, Inc. your revenue cycle solution, you’ll leave revenue cycle issues to a team of experts with extensive training in the healthcare industry. In addition to handling insurance eligibility and verification, calls with patients, and verifying patient demographics, revenue cycle management incorporates the latest technology in your practice to allow you to easily identify proper payer class, collect more from self-pay, and assist with Charity Care eligibility.
Utilizing AR Logix Inc. as your revenue cycle partner, you will feel secure in knowing that your healthcare revenue cycle management company is knowledgeable, experienced and compliant with all HIPAA requirements.
Read our blog post about Eliminating Bad Debts with Automated Revenue Cycle Management Tools.