Revenue Cycle & Practice Management
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- Revenue Cycle & Practice Management
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Revenue Cycle & Practice Management
Keeping track of multiple payer contracts with varied specifications often results in denials, underpayments, and lost or ignored claims. It is difficult for providers to comply with regulations like HIPAA-complaint formatting and ICD-10 coding standards for claim submission, while they are undergoing changes to keep pace with 'meaningful use' requirements. A specialized application should be able to streamline revenue cycle and make practice management simpler, minimizing manual efforts and accelerating the collection process.
Having considerable experience in provider, payer and financial domains, Silicus can be the appropriate consulting and technology partner to help you continually improve your collection rates and stay ahead of the latest claim trends.
Jose Ramon Mosteiro
Ford Oxaal
Dayon Kane
John Ferrari
Umesh Verma
Dan Boehm
Bo Keyslay
Michael VaughnWe leverage our ability to understand leading-edge technologies that guarantees world-class product architecture, design, implementation, deployment and servicing. Further, we have the right mix of techno-functional and QA experts that help you realize your goal of custom-product development while ensuring business-applicability, adherence to quality & compliance, scalability and cost-effectiveness. In addition, Silicus offers comprehensive services for implementation of following revenue cycle and practice management modules:
- Patient Registration - Eligibility Verification & Authentication Check
- Medical coding, transcription and charge capture
- Medical billing, claim generation and claim submission
- A/R Collections and follow-up
- Charge Entry and cash posting
- A/R Denial Management
- Patient Follow-up
- Conformance to regulatory standards like HIPAA, CPT(Current Procedural Terminology) and ICD
Here are some of the benefits that implementing a revenue cycle or practice management application can bring to your organization:
Integration gateway for provider EMR and payer contracts
Integration of patient records (EMR) with related insurance and billing information allows online insurance eligibility verification & authorization of claim submission at the time of patient registration.
Reduction in number of denials
Online medical transcription and coding using ICD-10, HIPAA and similar coding standards ensures accurate claim submission and in turn reduces compliance-based claim denials
Automation
Automation of claim submission, A/R collections, follow-up, and denial management streamline process workflow and enable status tracking and follow-up across various stages of revenue cycle management.
Payer Management
Practice management also helps in keeping track of multiple payers by providing a unified view of their contracts, comparative reports and useful alerts like specified vs. actual payment.
Reporting
Intuitive reports for forecasting future collections, tracking problem areas, and supervising payments & related activities.