We leverage our years of expertise to offer a unique blend of agility, scalability, and management to your Revenue Cycle, delivering quality support and results to your patients.
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Revenue Cycle Management
The heart of every healthcare facility is managing its most liquid asset on the balance sheet. Administering Revenue Cycle Management processes are vital to maintaining business agility and driving growth.
Why should I improve my Revenue Cycle Management?
The primary goal of Revenue Cycle Management in healthcare is to maintain maximum cash flow into the healthcare facility by minimizing the collection period and associated costs. Unmanaged Revenue Cycle can significantly strain cash flow and result in lost revenue.
Managing your Revenue Cycle in the healthcare industry is a tricky business. It can be challenging to predict how much revenue you will generate each month, how much will be written off, or when you will get paid. Your Revenue Cycle process has a lot to do with smoothing out those fluctuations to more accurately predict the cash balance of the facility.
MedSrv, LLC specializes in developing robust Revenue Cycle processes for healthcare facilities across the U.S. Our team helps healthcare facilities avoid the hidden costs of carrying large Revenue Cycle AR balances forward, like bad debt and administrative fees.
Our Benefits
Fast-track your payments process while keeping the focus on patients. We specialize in Revenue Cycle Management and system analysis. MedSrv, LLC can help you streamline the Revenue Cycle and create a better experience for your patients and staff. Our solutions compliment your current Days Revenue AR process without requiring lengthy implementation of new technology.
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Revenue Cycle Management
Our team reviews patient accounts for any outstanding balances and follows up with insurance providers and third parties to manage AR.
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Denial Management
Denial Management is a vital part of improving the Revenue Cycle Management of any medical facility. Through this process, healthcare facilities can ultimately enhance the quality of services to their patients.
There are four steps to denial management:
1. Identify that a claim has been denied and investigate the root cause of denial.
2. Manage the steps involved in correctly filing and reversing denials wherever possible. This can involve directly routing claim denials, creating standard workflows, and creating specialized online tools.
3. Monitor AR denials by categorizing denial data for all payers and auditing processes.
4. Prevent or reduce the risk of future denials by revising processes, re-training staff, or adjusting workflows.
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Payment Posting
In coordination with client lockboxes, we ensure payments are allocated to the correct patient accounts and dates of service.
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Remit Processing and Setup
Remits are received and sent for full posting in accordance with listed accounts. We also ensure complete balance of remits and received payments.
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PM Systems
Utilize PM systems to track and analyze trends within the Revenue Cycle and produce analytics based on denial rates, payments, charges, adjustments, etc.
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System Configuration
We configure PM System tables to meet unique payer requirements and prevent backend denials.
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Reporting
Our reporting provides better visibility and analytics into your healthcare facility’s Revenue Cycle and insights that support data-driven decision-making.
Dynamic Reporting Solutions
Our service offers complete 24/7 accessibility through our portals which are fully integrated into our systems. Clients can access their information thanks to our interactive dynamic reporting systems.
Request a Sample ReportOur Services
MedSrv, LLC provides healthcare facilities and physician practices healthcare Revenue Cycle Management and oversight with the highest level of customer service across the U.S. from our campus in Chattanooga, Tennessee.