Benefits of Revenue Cycle Management Consulting Services for Patient Care

Healthcare practices of all sizes can implement software solutions to improve their revenue stream and patient care. Revenue cycle management consulting teams offer comprehensive technology solutions and orientation services to help practices adjust to new workflows. Here are four of the patient care benefits of working with a healthcare consulting company:

1. Patient Scheduling and Registration

Revenue cycle management consulting teams can implement software that streamlines the process of gathering and storing patient data. This reduces the time spent on administrative tasks like patient registration. Some software systems allow patients to fill out their personal information online or through a secure app that automatically updates their patient files.

On these secure platforms, patients can also schedule future appointments and view provider availability. This helps practices fill time gaps and increase their efficiency and the number of patients they see during a workday. Healthcare management software can send appointment reminders and confirmations to patients, reducing the chances of missed appointments. This helps patients get the care they need without having to reschedule.

2. Accurate Coding and Claims

Using a standardized, effective coding system helps providers create accurate patient treatment records. It also keeps patients from overpaying or paying for services they didn’t receive. Accurate coding also improves patient treatment outcomes, as providers will be able to understand which treatments have been performed successfully in the past. This prevents repeat treatments and opens the possibility for new treatment methods.

Consulting companies follow the coded claims throughout the submission and acceptance process to confirm your practice is paid fairly and on time. If your claims are rejected for any reason, healthcare consultants will work with the insurer to determine the cause of denial and prevent future issues. They also handle appeals for claims that were denied unreasonably.

3. Billing and Payments

A revenue management team will work to streamline your billing and payment collection processes. Healthcare software systems include automatic billing and payment reminders for patients. These systems may also include patient portals that allow patients to make one-time or scheduled payments within the app. Accessible platforms and payment reminders reduce the risk of missed payments, improving the relationship between patients and practices.

4. Telehealth and Virtual Services

Consultants can help practices add virtual healthcare services to their offerings, potentially increasing their revenue streams. Phone and video appointments require minimal overhead expenses and create more accessible scheduling options for patients. Offering virtual messaging services through a secure app allows patients to interact with providers and receive immediate feedback about health concerns without scheduling an in-person appointment. Virtual tools help practices increase their patient load without increasing expenses for supplies and in-office staff.

Find a Revenue Cycle Management Consulting Company

Increase the efficiency of your practice’s workflows and patient care practices with the help of a revenue cycle management consultation team. These professionals can also help practices complete the complex credentialing process required when hiring providers, changing locations, or registering with insurance companies. Healthcare consultants are also available to assess the needs of start-up practices and provide recommendations for physical locations, legal compliance, and other tasks that will get your practice running as soon as possible. Contact a revenue cycle management consultation company today to learn more about their comprehensive services.

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