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.
Effective RCM not only ensures optimized cost-reducing processes and revenue improvement, but also an improvement in the patient experience. A shift from a billing-focused approach to complete RCM is required as the industry is evolving from a fee-for-service to the value-based care model. Unfortunately, a certain level of expertise and experience is required to capture the benefits offered by revenue cycle management- skills and expertise that most practices lack.
Our RCM teams have accumulated the necessary expertise over 11 years and are able to adapt their service to the individual practice regardless of where they find themselves in the practice life cycle model.
Master building processes, control, and workflows that facilitate smooth functioning and better revenue outcomes for your practice.
Our stand-alone RCM Consulting services are offered to those who are starting up, or practices looking to optimize and scale.
Revenue Leakage Analysis and error trend detection to improve revenue.
Improvements to clean claims with ongoing actions.
Maximized reimbursements with faster turn-around times.
Front and back-end integration means 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.
Neolytix serves as the enabler for holistic analysis to foster a cross-departmental synergy.
In-depth reporting provided to create a platform for proactive improvement strategies.
Amendable key metrics to best reflect what matters to the individual provider.
Scheduled or on-demand detailed reporting and analysis
A brand-new holistic approach is needed to gain the most out of your revenue cycle. But as is the case with all new strategic implementations, the learning curve is steep and sometimes costly. Neolytix provides practices access to instant expertise and the opportunity to optimize their revenue cycle, without having to go through the slow and painful adoption process.
Neolytix’s expert RCM teams bring 11+ years of experience to your practice which means you’ll enjoy all the benefits that all-inclusive revenue cycle management brings:
Don’t have the appetite to harvest all the benefits from full-spectrum revenue cycle management services?
No problem. Select individual service offerings from within the revenue cycle to gain access to specific expertise to complement your non-clinical processes.
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.
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Neolytix offers HIPAA-compliant Medicaid billing services customized to meet the needs of medical practices everywhere.
There’s no assembly line here; all of our physician billing solutions are handcrafted with your practice in mind.
Leave all the paperwork to us and focus more time on your Behavioral Health Practice
Neolytix offers HIPAA-compliant medical billing services with professional expertise and friendly, convenient service.
Medical billing is a central part of healthcare. It’s how we as a community ensure that every medical professional gets paid on time and every patient is covered by their insurance.
Neolytix is proud to offer comprehensive and results-oriented national medical billing services. We guarantee consistent, expert results every month.
