Revenue Cycle Management

Seal leaks in your revenue cycle with an expert, full-spectrum-focused team

Create a fortified innovative revenue cycle management structure with analytically driven expert teams.

Reduce leakage, reduce over-coding risks, improve clean claims and tighten the grip on governance.

Neolytix Revenue Cycle Management:
Not Just Another Medical Billing Service

Experience an innovative approach to revenue cycle management from an expert team that cares about your financial health. Medical billing and coding are vital pillars within the revenue cycle, but honing in on these processes in isolation is not the key to unlocking the true potential of a medical practice’s revenue cycle.
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Create an industry-best blueprint

Get it right from the start by following industry-best-practice blueprints for your revenue cycle Neolytix provides consulting services to those starting up, or looking to optimize or scale. 10 years+ of experience serving medical practices nationwide

Empowering revenue intelligence

In-depth reporting provided to create a platform for proactive improvement strategies Scheduled or on-demand detailed reporting and analysis Amendable key metrics to best reflect what matters to the individual provider
empowering-revenue
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Front and back-end integration

Embracing the entire revenue cycle, from the first point of patient contact to final reconciliation. Reporting and analyses along each step of the revenue cycle value chain Holistic analysis to foster a cross-departmental synergy.

Increase revenue

Revenue Leakage Analysis and error trend detection to improve revenue Improvements to clean claims with ongoing actions Maximized reimbursements with faster turn-around times
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Top 5 Reasons why Medical Providers using Neolytix RCM services

Neolytix’s all-encompassing revenue cycle management services allow medical practices to enjoy the same RCM benefits as hospitals, with less cost, and complexity.

Full-Spectrum Revenue Realization Approach

  • Expertise in addressing all aspects that impact your revenue realization 
  • Consolidated services beyond medical coding and billing include: Provider licensing, Credentialing, Benefits, and Prior authorization.  

Analytics-Driven Expert Teams

  • Minimizing compliance risks by proactive back-end research 
  • Proactive monitoring of coding and policy changes 
  • Transferring skills and best practice procedures to practice through trends detected across the industry.

Revenue Leakage Prevention

  • Actioning claims in a timely manner 
  • Vigorous follow-up protocols 
  • Proactive tracking and reporting of claims 

Connoisseur Coding Practices

  • Optimizing revenue through pin-point-accurate coding 
  • Minimizing the risk of over/under coding 
  • Improved first pass ratio 

Uninterrupted Performance

  • Dedicated teams and account managers assigned to practice 
  • Trained backup personnel on standby 
  • On-demand detailed reports available upon request  

Pain-free Transition

  • Short lead time for implementation 
  • Old AR Cleanup 
  • Dedicated Account Manager  

See What Our Clients Have To Say About Us

Complete Ownership of RCM Services
for a Positive Patient Experience

Create a high-performing collections process synergy with services designed to collaborate and complement each other to minimize financial losses and maximize the overall patient experience.

Benefits & Prior Authorizations

  • Prevent Surprise Bills and Penalties 
  • Improved benefit verification and prior authorization 
  • Support patient collections and improve patient experience 

Licensing Service

  • Minimize onboarding time of new clinical personnel 
  • Physician, Non-Physician, DEA, CDS, CLIA & Group Licensing 

Credentialing Service

  • Fast Insurance Medical Credentialing and Provider Enrollment 
  • Relationships with insurers and in-depth knowledge of processes 
  • Expedited service through constant follow-up 

Medical Billing and Coding

  • 10+ years of SLA-based billing service experience 
  • Expert Coding support and knowledge transfer 
  • Maximize revenue without overcoding 

Frequently Asked Questions (FAQ’s)

In its simplest form, revenue cycle management, also known as RCM, refers to the lifespan of a patient account from first contact to payment and reconciliation. It includes all the administrative and clinical functions that add to the capture, management, and collection of revenue.  

Apart from the time and money wasted finding and onboarding billing staff, without an expert, cohesive team, the billing process isn’t as watertight as it should be, leading to providers losing revenue in the process.

In addition, poor coding practices also contribute to a loss in revenue. Refer to the next question for more on this topic.

Although medical billing is a vital part of revenue cycle management, RCM  goes beyond and includes both front and back-end processes. Revenue cycle management for medical practices builds a think tank into the billing process with a high amount of focus on analyzing and improving key health metrics on an ongoing basis.

A holistic approach to the medical practice’s revenue cycle optimizes revenue and improves the overall patient experience. By creating and monitoring measurable metrics across the board, a platform for constant improvement is generated. This would essentially lead to an increase in claims paid upon first submission, faster collections, minimized compliance risks, and more.  

The primary reasons for outsourcing RCM relate to operational cost reductions and optimizing income. Maintaining an expert in-practice revenue management team is costly, and staffing problems lead to disruptions that could affect the bottom line of the business.  

Outsourcing the revenue cycle management function of practice not only reduces costs, increases revenue, and solves staffing solutions, but the in-depth analysis and reporting of the entire cycle and the cross-industry transfer of skills and knowledge to the practice leads to a sustainable synergy.  

Schedule a free, no-obligation consultation to learn more about optimizing your revenue cycle

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